Mexico First ATMsMexico will get its first two Bitcoin ATMs no later than next week.
Operated by start-up Bitcoin42, the two-way ATMs are the first in Mexico, but also present a great innovation. Indeed, it will be the world’s first litecoin and dogecoin ATMs.The ATM units will be positioned at the BIT Center in Tijuana Baja California.Multi Crypto-currencies ATMBitcoin42 will present two ATM’s that buy and sell Bitcoins, one accepts US Dollars, the other Mexican Pesos. They are the first ones not only in Mexico but also in Latin America.
Customers will also be able to buy a limited amount of Litecoins and Dogecoins.The company says its business model focuses on cultural, social, ecological, and economical projects that aim to tackle challenges in our society by developing creative solutions.Bitcoin42 is inspired by the Institute for Social Banking and the Economy for the Common Good, which received larger popularity since the banking crisis.Pro Bono OrientedTo start, Bitcoin42 will be giving 10% of all generated profits to local non-profit associations in Tijuana. Furthermore, customers will be able to choose the cause they want to donate to.Bitcoin42 especially advocates for the use of crypto-currencies by non-profit organizations, so they can lower their administration costs.Through the use of crypto-currencies, non-profit organizations can get funds in a faster and more efficient way with the highest level of transparency.Through this, anybody can become a (truly) independent auditor, since one can provide information to verify balances and transactions and also allow the public to see how much in donations has been received.Bitcoin42 announced it is also preparing the first Social and Ethical Crypto Currency Network, in order to enhance social and ethical responsibility in the world.