Brazil's Biggest Mall Franchise Will Install Crypto ATMs

2021-08-20 19:30:00

In the latest crypto news from Brazil, BR Malls, Brazil’s leading mall franchise, discloses plans to install crypto ATMs in multiple malls throughout the country. Specifically, BR Malls’ announcement reveals that the company intends to initially release 15 crypto ATMs. These ATMs will be available in several cities across Brazil, or eight to be precise. Some of the biggest on the list being urban centers such as Rio de Janeiro, São Paulo, and Goiás.

In order to achieve this feat, BR Malls will turn to Coin Cloud for solutions. This US company is a specialist in operating with crypto ATMs, and consequently the perfect partner for the job. What is interesting is that Coin Cloud already has experience in dealing with Brazil. In fact, in December 2020 Coin Cloud sent 10 ATMs to Sao Paulo, thus showcasing its fondness for doing business in this Latin nation.

Coin Cloud also disclosed that the first group of crypto ATMs are already available for crypto enthusiasts in Brazil. Additionally, the US company states that the rest of the 15 ATMs will be completely integrated by the end of the upcoming weekend. Consequently, the new ATMs operate as bi-directional, meaning that users can both purchase and sell crypto.

These crypto ATMs will work solely with cash. However, users can also use a special app that will enable card purchases. The minimum amount you can purchase at the crypto ATMs is 1.87. And if you wish to sell your crypto assets, the minimum amount is 9.36.

For that purpose, Cloud Coin offers 30+ cryptocurrencies at disposal. With some of them being giants such as ethereum, bitcoin, litecoin, cardano, dogecoin, etc. Lastly, the crypto ATMs will also provide stablecoins in their offer, making for another convenient option.

Surprisingly enough, Isabela Rossa, head of Coin Cloud Brazil states that the goal behind this project is to attract mainly new customers. Moreover, hers and the company’s general opinion is that physical machines are more trustworthy for crypto newbies. Especially for those who are not so much into technology, or have a distrust towards online exchanges. Hence, crypto ATMs present the perfect opportunity for users to easily make the transition towards cryptocurrencies.

We are managing to attract an audience that is not the famous day trade — which is already on the platform —, but people who have heard of cryptocurrencies, who are interested and already invest in other markets, but do not want to enter through brokerages.Isabela Rosa | Head of Coin Cloud Brazil

Whatever the case, Brazil becomes part of a select group of countries that can offer crypto ATMs to their citizens.

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