The intention is to promote tourism to the community where the “Most Beautiful Lake in the World” is located.
Tourists can make purchases without having to convert their money to quetzales.
Coincaex, one of the most recognized exchanges in Central America, introduced the BITPOS point of sale in Panajachel, located in the department of Sololá, Guatemala. This movement was designed to boost tourism to the community known for hosting the “Most Beautiful Lake in the World”, Bitcoin Lake, one of the most prominent Bitcoin citadels in Latin America.
BITPOS allows local merchants to accept payments in bitcoin (BTC) and other cryptocurrencies, facilitating the shopping experience for tourists without the need to convert your money to quetzales, according to that exchange platform.
According to Coincaex, the implementation not only improves the efficiency and security of transactions, but also allows merchants reduce costs and increase profitabilitythus promoting economic development and financial inclusion in the region.
BITPOS adoption in Panajachel has ranged from restaurants to craft stores to tattoo studios, according to the exchange. The technology attracts a segment of customers that prefers the speed and flexibility of cryptocurrencies, which has been a catalyst for local tourism and economic development, according to a company press release.
The BITPOS point of sale, offered by Coincaex, is part of the products that that exchange has launched in order to promote the adoption of cryptocurrencies in Guatemala.
In August of this year, Coincaex announced a strategic partnership with ATM company 5B, facilitating the installation of more than 2,700 automated teller machines (ATMs) throughout the Central American country, thus allowing citizens to exchange bitcoin and other cryptocurrencies. for local cash, quetzales, as reported by CriptoNoticias.
This initiative has not only democratized access to cryptocurrencies in the country, but has also positioned Guatemala as the third nation with the highest number of cryptocurrency ATMs in the world. only surpassed by the United States and Canada. Although, according to the Bitcoin ATM Radar website, Australia would be the third country in the world with the most ATMs in the world, followed by Spain.
Guatemala and bitcoiner tourism
Lago Bitcoin, a citadel with more than two years of experience, is not only focused on Panajachel but also on other towns near Lake Atitlán. As CriptoNoticias has reported, Bitcoin tourism has grown steadily in this region.
It has been recorded that up to 90 commercial premises throughout Lago Bitcoin They accept BTC as a means of payment. These include hotels, restaurants, cafes, boat services, taxis, clothing and accessories stores, and laundries.
The implementation of BITPOS and the growing adoption of cryptocurrencies in Panajachel reflect a trend towards innovation in payment methods, which not only benefits tourists, but also drives local economic development.
A cryptocurrency POS is crucial for several reasons. In addition to the tourist theme, promotes financial inclusion by allowing transactions without the need for bank accountsreduces transaction fees for merchants, and simplifies international payments, which is especially beneficial in a community with international tourist influx.
Furthermore, the adoption of cryptocurrencies educates and normalizes their use, promoting technological literacy and economic resilience by diversifying payment methods. This can attract investments and entrepreneurshipcontributing to a more dynamic economic ecosystem prepared for the digital future.
