Crypto ATM Company Bitbase Prepares to Open Operations in Venezuela This Year – Exchanges Bitcoin News

Bitbase, an ATM company and crypto store based in Spain, is planning to start operations in Venezuela next year. For the opening of stores and crypto ATMs, Bitbase is currently looking for people to join its team. Bitbase is one of the first exchanges in the world to have an office opened in this country.

Bitbase Sets Up Operations in Venezuela

Latam is a desirable destination for companies and cryptocurrency exchanges due to its relevance. Due to the current economic challenges in the region, such as high levels of inflation or devaluation and other financial problems, this is a good place for cryptocurrency exchanges. Bitbase, an ATM company and cryptocurrency store based in Spain, will launch its operations in Venezuela this year.

These conditions are ideal for cryptocurrency growth. Bitbase believes this will continue as the company plans to open more shops in Venezuela. Enrique De Los Reyes is the Bitbase Venezuela manager.

Our efforts to land in Venezuela are strong. The hard work is continuing, and it will soon pay off with all the licenses that we require to conduct business in Venezuela. That image will reflect good use and mass adoption.

Bitbase’s business model includes physical stores, in which employees explain to users how to use crypto and serve as intermediaries for crypto operations. It aims to bring onboard people who appreciate physicality, and are not interested in crypto.


Now the company has the resources to hire the staff needed to care for the customers in these shops and establish crypto ATMs. De Los Reyes spoke out about this:

There is a law department at the company and there are many new talents from Venezuela who would like to join us.

Bitbase also operates from a branch in Caracas’s trade sector and foreign company section of the Spanish Embassy in Caracas. If it is launched this year, Bitbase would be the first foreign crypto company to have an office in Venezuela.

Bitbase declared its interest in Venezuelan markets in February, when de Los Reyes said that Bitbase might be able to take advantage of Venezuela’s current commercial opening. The company also entered Latam in the same manner, opening its first Paraguay store in July.

What do you think about Bitbase’s interest in the Venezuelan market? Please leave your comments below.

Sergio Goschenko

Sergio is a Venezuelan cryptocurrency journalist. Sergio is a cryptocurrency journalist based in Venezuela. He says he was late to the party, having entered the cryptosphere during the December 2017 price increase. His background is in computer engineering, but he also lives in Venezuela and was impacted at the social level by the crypto boom. He offers an alternative perspective on the success of cryptocurrency and the benefits it has for the underbanked.

Credits for the image: Shutterstock, Pixabay, Wiki Commons, lma_ss,

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