Dash is one of the top ten cryptocurrencies in the world. The development team is focusing on anonymity features above anything else. As it turns out, there are a lot of cryptocurrency enthusiasts who find Bitcoin lacks such specific features. TigoCTM, a new cryptocurrency ATM company, has partnered with Dash recently. This will allow ATM users to buy and sell Dash with fiat currency.
TigoCTM Sees The Added Value In Supporting Dash
The name TigoCTM may not ring a bell with most cryptocurrency enthusiasts just yet. This Panama-based cryptocurrency company is in the business of building their ATMnetwork. Among the supported currencies on their Crypto Teller Machines are Bitcoin, and now also Dash. This latter should not come as a surprise, considering the popularity increase this alternative cryptocurrency has gone through in recent months.
The efforts of TigoCTM focus on Latin America, a region where unbanked and underbanked residents are found in abundance. By giving these people access to cryptocurrency, they can complete financial transactions with ease. Moreover, this also allows for purchasing goods with Bitcoin and Dash. In the end, it all comes down to having other options besides storing value with traditional banks.TigoCTM CEO Cindy Zimmerman explained the situation as follows:
“We started this company in Panama because there was no way for anyone there to convert cash into cryptocurrency, and after the financial crisis in Venezuela took hold, the demand for an alternative way of accessing money quickly grew. For example, the bolivar has recently seen 100% year over year inflation; bitcoin has been more stable than some local fiat currencies. Over the past year in particular, cryptocurrencies like bitcoin and dash have increased in value faster than gold, silver, and many other traditional assets. Now with Dash added to our network, we will see an influx of an even larger customer base.”
The plan for TigoCTM over the coming months is pretty straightforward. Additional ATMs will be deployed in Panama and the rest of Latin America. The team will also focus on providing training, technical support, and convenient access to the devices. An international expansion is also on the agenda.
Rising Demand For Cryptocurrency
Cryptocurrency is a powerful tool in countries experiencing economic volatility. The majority of Latin American countries falls into that category, with hyperinflation and mounting debts as a result. Diversification of assets and portfolios is an absolute must. TigoCTM helps the general population achieve that goal through their ATM network.Keeping in mind how Dash is ranked as the eighth most valuable cryptocurrency in the world, there is a growing demand for this currency. Its market cap recently surpassed US$54m, and the network moves nearly US$500,000 every 24 hours. Dash has also become more popular among businesses around the world as of late.Header image courtesy of TigoCTMIf you liked this article, sign up for the newsletter on the main page, and make sure to follow Fintechist on Twitter and Facebook!