To achieve widespread crypto adoption, there needs to be conscious effort to make the use of cryptocurrency very accessible and convenient to the everyday user which will, in turn, make them more likely to use crypto as their primary method of payment for goods and services. One of the ways this can be done is to the installation of crypto ATMs which allow the buying of cryptocurrency with ease and also the withdrawal of crypto from wallets.
Now Paxful, a peer to peer crypto marketplace has teamed up with CoinLogiq, a crypto firm to bring 20 crypto ATMs to Columbia and 25 to Peru in the next few months. This announcement was made on September 5, 2019, by both firms.
Details About the Partnership
According to the official press release making the announcement, the companies intend to install cryptocurrency ATMs at the major points in cities in Columbia such as Botoga and Medellin and this is to encourage the use of cryptos consistently. Consumers will also be able to purchase bitcoin through several payment methods such as credit and debit cards and also methods such as gift cards, bank transfers and so on.
Colombians have shown a significant interest in cryptocurrency in the last few years and thus, it is no surprise that this initiative is taking place in the country. The country is already part of the distributed ledger technology initiatives= which aims to bring blockchain to countries with ease.
This partnership seems to be a very strategic one and there has been praise from the management of both companies as well as high hopes for the success of this project.
“Latin America has real heroes in the CoinLogiq crew. They genuinely care and are focused on real use cases. This is what makes bitcoin real and a part of people’s daily lives. We are proud to work with them,” said Ray Youssef, CEO, and co-founder of Paxful.
The management of CoinLogiq has also stated that this partnership will inspire leaders in the field to support such efforts.
“I am now even more convinced that mass adoption will not happen without the influence of the kind of synergy that can now exist as a result of this Paxful and CoinLogiq joint venture,” said CoinLogiq CEO, Dwayne Golden Sr.