Coincaex, a well-known cryptocurrency exchange in Central America, has launched the BITPOS system in Panajachel, Guatemala. This initiative aims to boost tourism and improve the economic situation in the region.

BITPOS Launch in Panajachel

The introduction of the BITPOS system allows local businesses to accept payments in bitcoin and other cryptocurrencies, simplifying transactions for tourists. Coincaex claims BITPOS enhances transaction security and efficiency, reducing costs and increasing profitability.

Cryptocurrency ATMs in Guatemala

In partnership with ATM provider 5B, Coincaex has installed over 2,700 cryptocurrency ATMs across Guatemala. This improves access to digital currencies, allowing users to convert cryptocurrencies into local currency.

Impact on Economy and Tourism

The BITPOS project and the growing use of cryptocurrencies contribute to economic development and tourism in Panajachel. About 90 local businesses in the Bitcoin Lake area accept bitcoin, including hotels, restaurants, and other services.

The introduction of BITPOS and the growing acceptance of cryptocurrencies in Panajachel indicate a shift towards innovative payment methods, making transactions easier for tourists and driving economic development.