Bitcoin ATMs That Support Litecoin, Dogecoin Launching This Week in Mexico
Mexico is slated to get it’s first two bitcoin ATMs on the week of Monday, March 16th in Tijuana — just below the border from San Diego, California.
Operated by start-up Bitcoin42, the two-way ATMs are the first in Mexico, but also take the title of being the world’s first litecoin and dogecoin ATMs.
“With [the ATMs], customers will also be able to buy a limited amount of Litecoins and Dogecoins,” the statement read on the Bitcointalk forum.
One of the devices will accept Mexican pesos, the other will accept U.S. Dollars.
The ATM units (which Bitcoin42 has not yet shown off) are to be positioned at the BIT Center (Business, Innovation, Technology), and 10 percent of generated profits collected using the machines will be donated non-profit associations local to Tijuana (the customer will be able to choose which organization the funds go to).
The company wrote:
We especially advocate for the use of crypto-currencies by non-profit organizations, so they can lower their administration costs. Through the use of crypto-currencies, non-profit organizations can get funds in a faster and more efficient way with the highest level of transparency. Through this, anybody can become a (truly) independent auditor, since one can provide information to verify balances and transactions and also allow the public to see how much in donations has been received and where it went.
In response to our inquiry, a Bitcoin42 representative said that “The fees will be announced later our website. They either will be originated around what the others are charging, but we are working on a special program so low income groups get better prices.”
“We want to help low income groups who are currently not able to make micro payments, since the Word bank favors higher transaction amounts. We are working on this, our main enemy is the price volatility. but these things take time,” the spokesperson added.