Cardenas Markets, the largest Spanish supermarket chain in the United States, is expected to be equipped with ATMs to buy and sell cryptocurrencies.
Crypto ATMs are booming
Coin Cloud, a leading operator of bitcoin vending and digital currency (MMC) machines, announced a partnership with Cardenas Markets, one of the largest Spanish supermarket chains in the country.
With 59 stores in three states, including California, Arizona and Nevada, Cardenas Markets customers can access Coin Cloud DCMs to buy and sell bitcoin, Ethereum and more than 40 other digital currencies for cash.
† With the most authentic offerings and the freshest produce, Cardenas Markets stores now offer the ability to buy and sell digital currencies with cash, starting right here at home in Las Vegas.said Chris McAlary, CEO of Coin Cloud. Recognized as one of the largest supermarket chains in the country serving the Hispanic community, we are delighted to offer their customers digital currencies, including myself as a loyal Cardenas buyer.† †
This decision is partly due to a recent survey that found that the Hispanic population in the United States is primarily interested in cryptocurrencies and is among the populations that have most adopted this technology. When the Federal Reserve’s survey shows that 12% of US adults own cryptocurrency, we also learn that the non-bankers, 11% of the Hispanic population, are more likely to be interested in cryptocurrency payments.
† We are pleased to offer our customers cryptocurrency capabilities through Coin Cloud’s DCM networksaid Prabash Coswatte, COO of Cardenas Markets. With this unique offering, we continue to deliver on our promise to meet the evolving needs of our customers, especially in today’s digital world.Coswatte added.
Cryptocurrencies Increasingly Popular Among Hispanics
Another reason for the success of cryptocurrencies among the Spanish population could be that they are booming in Latin America, especially in countries like Argentina and Mexico, where inflation is higher than in the United States. The Mexican Senate has also purchased a bitcoin machine.
It could inspire use by Hispanics in the United States who want to send money to those countries or are simply influenced by enthusiasm. Remittances are indeed a very important topic for populations of South American descent, the president of El Salvador had stated that citizens could save more than 400 million dollars by using bitcoin and unpaid services.
One of the other reasons for the success of cryptocurrencies, and especially stablecoins, is the inflation or even hyperinflation that affects many Latin American countries. Bitcoin or USDT become safe havens when national currencies like in Argentina or Venezuela devalue exponentially.
Bitcoin ATMs are a very quick and easy way to buy and resell cryptocurrencies, unfortunately with a generally high cost, as the installation and management of these machines remain expensive for businesses. These ATMs remain a good gateway to web 3.0 for many investors.
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Passionate about geopolitics, economics, cryptocurrency, Eurasia and travel! (as far east as possible), crypto trader for 4 years.