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Playa del Carmen next after Cancun, Cozumel get ATM bitcoin machines

Cancun, Q.R. — The first bitcoin ATM for the north was installed in Cancun in SM 20. The machine, which is owned by Crypto Flamingo, reported a cost of $13,000 USD.

According to Ricardo Babini Roe, representative of the company, the main beneficiaries of this ATM for now will be Russian tourists who have found in this currency an option to pay for their trip after the blocking of their bank accounts as part of the Ukraine invasion sanctions.

However, he acknowledged that there are a large number of Mexicans who are also interested in this type of exchange. As an example, he cited the case of a person from Chetumal who travels to Cancun just to buy bitcoins.

Babini (left) at his Bitcoin ATM in Cancun

“We are very happy to arrive in Cancun, to see how bitcoin is making its way not only among foreigners, but also among nationals and we hope that with this first ATM, more good things will come, such as the approval of the currency in centres like Airbnb and restaurants,” he said.

“Most tourists come to sell. We also have the case of Argentina, where Argentina has an exchange control and people cannot get dollars from there, so what they do is buy their bitcoin there then come here to sell them and take out pesos,” he explained.

In addition to Cancun, the island of Cozumel also has a bitcoin ATM, which he says, can dispense up to 60,000 pesos as a daily limit.

The machines both buy and sell cryptocurrencies. To buy, the minimum is 500 peso, equivalent to a fraction of bitcoin. Then a QR code that is obtained when opening a virtual wallet is scanned and the cash is immediately inserted to complete the operation.

“People are getting very interested. People from other states write to us every day,” he said.

Babini says there are now plans for a Bitcbin ATM for Playa del Carmen.