CoinFlip Launches Bitcoin ATMs in Mexico as Adoption Increases

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked…

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Last updated:

August 27, 2024 23:00 EDT

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The American crypto firm CoinFlip has announced an “official expansion to Mexico,” where it has launched 20 Bitcoin ATMs.

In a CoinFlip press release, the firm said its “kiosks” can now “be found across Mexico City in over 20 retail locations.”

These include “shopping centers, coffee shops, bakeries, and other high-traffic locations,” the company explained.

The firm said its new Bitcoin ATMs had been installed at “select” branches of the restaurant chain Ojo de Agua.

Bitcoin ATM: Mexico Expansion

Local media outlets have reported that at least four million Mexicans trade Bitcoin (BTC) and other tokens.

And per Coin ATM Radar data, Mexico City is now home to at least 56 Bitcoin ATMS. This figure includes the new CoinFlip arrivals.

Several other Bitcoin ATM players have rolled out Bitcoin ATMs in Mexico. They include General Bytes and DitoBanx, as well as the domestic crypto project Montebit.

As well as the capital Mexico City, crypto traders can also buy and sell coins from ATMs in cities like Puebla, in east-central Mexico.

Operators have also installed several Bitcoin ATMs in Guadalajara and Querétaro as crypto continues to gain popularity in the nation.

CoinFlip said that it “plans additional expansion to regions outside of Mexico City throughout 2024.”

Mexico City Home to Over 55 Crypto ATMs

“Entering the Mexico market is a logical next step for CoinFlip as we continue our international expansion efforts. We’re confident that as adoption of cryptocurrency increases in Mexico, people will seek out technologies like CoinFlip to provide them with a convenient, secure, and easy way to buy, sell and invest in cryptocurrency.”

Ben Weiss, CoinFlip CEO and Co-Founder

CoinFlip claims to operate the world’s largest network of digital currency kiosks by transaction volume.

It says it operates “more than 5,000 kiosks across nine countries,” including the United States, Canada, Australia, New Zealand, South Africa, Italy, Panama, and Brazil.

It also says that it has “more than 400,000 worldwide customers,” and will “enable Mexican customers to combat inflation, build wealth, and easily send or receive money overseas.”

The press release cited a 2023 report by Chainalysis, stating that “Bitcoin is currently the most popular coin” in Mexico, “followed by Litecoin (LTC).”