The first cryptocurrency ATM has been opened by a TGU consulting Group in Honduran City. Hondurans people can now easily buy bitcoin and ethereum coins from their local currency. While buying cryptocurrency, they just have to verify their personal identification like Phone Numbers,s and scan their Ids.

TGU consulting group is based in Hondurans city which is located in Tegucigalpa. This is the country's first cryptocurrency ATM established in the main city.

According to Reuters Friday report, It was the first automated way to purchase cryptocurrency in their local currency which is the lempira. The machine “la bitcoinera” Cryptocurrency ATM allows buying Bitcoin and Ethereum in their local currency, just they have to scan their ids and personal identification like phone numbers.

Juan Mayan,Chief executive of TGU group consulting said Many Software developers had been accepting cryptocurrency in the mode of payment that's why we have decided to install Bitcoin ATM in capital city.  According to TGU executives, Hondurans had to exchange for crypto in person and also said that it is "very inconvenient and dangerous" in the country because according to crowdsource data platform Numbeo, the level of crime in Honduras city is "very high"

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As the crypto market is booming, in some countries of Central America, lawmakers have become crypto friendly. El Salvador is setting up bitcoin ATMs across the country to allow the cryptocurrency to be accepted as legal tender. At least one member of Congress in Panama has proposed the adoption of bitcoin and other cryptocurrencies.

GOVIND VISHWAKARMA

CBW - External Analyst

INDIA