The ATMs that remain operational are in stores that sell necessities. The ATMs undergo disinfection daily and users have to wash their hands after using them.

Last March 20th, the Argentine government decreed a mandatory quarantine throughout the country to prevent the spread of the COVID-19 virus. The measures prohibit gatherings, impose new route control and suspend work until further notice. This creates a new picture of desolate cities and collective panic, which also affects cryptocurrency companies residing in Argentina.

Athena Bitcoin, a cryptocurrency ATM manufacturer, has had to adapt its scheme of work to the new commercial reality under the quarantine. Dante Galeazzi, Country Manager in Argentina, states that the coronavirus epidemic has affected them like other companies, with a drop in sales volume.

The company has more than 10 ATMs throughout the country, according to data from Coin ATM Radar. However, several machines have recently stopped working, since they are installed in premises that were closed due to the quarantine. For this reason, they are not processing the same number of transactions with cryptocurrencies and fiat money as in previous months.

To give its users the possibility of trading Bitcoin (BTC), the company has decided to keep seven ATMs active in Buenos Aires and La Plata. The vast majority of these devices are installed in Walmart stores, so customers can do their weekly grocery shopping and, at the same time, check out the ATMs.

Persisting amid Pandemic

The board of directors of Athena Bitcoin said that they will not allow the coronavirus to remove cryptocurrency ATMs from the market. They will instead open new opportunities for Argentine citizens to access new monetary alternatives such as Bitcoin. Galeazzi stated that it is important that citizens do not lose their rights and can continue trading Bitcoin.

Ensuring to keep the service as secure as possible, Athena Bitcoin has contacted the owners of the premises to have the machines disinfected once a day. The same as cash and credit/debit cards, ATMs can also be a vehicle for coronavirus contagion. A large number of people touch the machines daily, which can make them get the virus, especially if they do not comply with minimum hygiene measures.

The company expects the ATMs to remain active throughout the quarantine period since they are located in stores that sell necessities. However, Athena Bitcoin is also developing a new service to meet the demand for cryptocurrency and decrease the risk of contagion. To do this, customers can use a new system to buy Bitcoin without leaving home, through bank transfer and the Internet.

Bitcoin in Times of Coronavirus

Dante Galeazzi believes that Bitcoin can help families in the current health crisis that humanity is facing. He notes that Bitcoin is an alternative for sending remittances to solve the precarious economic situation of relatives who have lost their job due to the pandemic or lack of money to cover quarantine expenses.

Galeazzi states that Bitcoin can also become a safe-haven asset for businesses that are still operating in Argentina. Last year, the Argentine government decreed an exchange rate control restricting the trade of US dollars, which complicated the country’s economic situation with the further devaluation of the Argentine peso (ARS).

Bitcoin emerged as a possible channel to access US dollars or a monetary system not controlled by the State. Cryptocurrency trade has flourished thanks to this situation, which could be accentuated considering that the quarantine has tightened controls on the US fiat currency in Argentina.

By Alexander Salazar

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