Traki's Bitcoin Machine in Venezuela Marks New Step in Crypto Retail Integration

Venezuela’s severe economic crisis has positioned the nation as one of the world’s most active markets for Bitcoin adoption. With fiat currency value collapsing, residents have increasingly turned to cryptocurrencies as a hedge against inflation. According to transaction data from LocalBitcoins, Venezuelans accumulated over $250 million worth of BTC during 2019 alone. Against this backdrop, Traki—one of Venezuela’s largest retail chains—has installed its first bitcoin machine, signaling a major shift in how mainstream merchants are embracing cryptocurrency. This strategic move reflects both market demand and the growing intersection between traditional retail and digital asset infrastructure.

Economic Crisis Drives Bitcoin Machine Adoption in Venezuela

The installation of Traki’s bitcoin machine represents more than just a corporate initiative—it reflects the urgent need for alternative financial tools in a nation grappling with economic collapse. Developed in collaboration with Criptotraki (Traki’s cryptocurrency division) and Veinte, a local cryptocurrency exchange, the machine was deployed at the El Recreo Mall location in Caracas, Venezuela’s capital. Initially, the machine operates in one direction only, allowing customers to purchase cryptocurrencies but not exchange them back to fiat currency. The terminal currently supports Bitcoin and DASH purchases, with U.S. dollars as the accepted payment method.

What makes this development particularly significant is that it wasn’t an isolated experiment. Earlier in 2019, Traki had already equipped 49 retail locations across the country with cryptocurrency point-of-sale devices, demonstrating the company’s commitment to cryptocurrency integration. The bitcoin machine installation at El Recreo represents the next phase of this expansion—moving from in-store purchase options to dedicated conversion terminals.

Expansion Plans: From Single ATM to Regional Cryptocurrency Network

Both Traki and Veinte have indicated that the current unidirectional setup is merely the first stage of implementation. Future plans include rolling out bidirectional machines that would allow users to withdraw fiat currency against their cryptocurrency holdings. This expanded functionality could fundamentally change how Venezuelans interact with their digital assets, offering both acquisition and liquidation pathways.

The timing of Venezuela’s bitcoin machine growth deserves attention. While Traki’s deployment marks a significant milestone for the country, it was not technically the first cryptocurrency ATM installation. According to data from Coin ATM Radar, the first successful bitcoin machine in Venezuela appeared in San Antonio del Táchira on September 10, 2019, operated by Panda BTM. That terminal supports a broader range of assets—Bitcoin, DASH, and BCH—along with support for both Venezuelan bolívars and Colombian pesos, reflecting the cross-border financial dynamics of the region.

South American Crypto ATM Landscape: Venezuela’s Growing Position

Within the broader South American context, Venezuela’s emergence as a bitcoin machine hub is part of a larger cryptocurrency ATM expansion wave. Colombia currently leads the region with 56 cryptocurrency ATMs installed across the country, followed by the Dominican Republic with 13 machines and Panama with 12. However, this landscape is rapidly evolving.

In 2019, the peer-to-peer marketplace Paxful announced a significant partnership with CoinLogiq, a Medellín-based blockchain firm, to deploy 20 new bitcoin machines in Colombia and 25 in Peru. This initiative aims to increase cryptocurrency accessibility in major urban centers like Medellín and Bogotá while simultaneously improving the merchant payment infrastructure. The Paxful-CoinLogiq partnership signals that South America is experiencing sustained growth in cryptocurrency machine deployment, positioning the region as a critical emerging market for bitcoin adoption infrastructure globally. For Venezuela specifically, each new bitcoin machine installation represents another step toward financial independence and economic resilience amid ongoing currency crisis.