Bitcoin ATM and Digital Currency Machine (DCM) operator Coin Cloud has partnered with Cardenas Markets to offer the Hispanic grocery chain’s customers the ability to buy and sell Bitcoin, Ethereum, and more than 40 other digital currencies with cash.
Coin Cloud’s digital currency machines will be installed in Cardenas Markets’ 59 stores located in California, Arizona, and Nevada, where customers can access the digital currencies available in the market.
“Providing the most authentic offerings and freshest products, Cardenas Markets’ stores now offer the capabilities to buy and sell digital currencies with cash beginning right here in our home of Las Vegas,” said Chris McAlary, CEO of Coin Cloud. “Recognized as one of the largest grocery chains in the country serving the Hispanic community, we are delighted to deliver digital currency to their customers, including me as a loyal shopper of Cardenas,” McAlary added.
A recent survey found that Hispanic U.S. adults have adopted cryptocurrency at a rate exceeding the general adult population. According to Morning Consult, an explanation is the Hispanic community is turning to digital currencies for payments rather than for investments.
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“The majority of crypto owners are white, but they’re also disproportionately Hispanic,” said Charlotte Principato, a financial services analyst at Morning Consult, reported CNBC.
One explanation for the high adoption rate among Hispanics is that they are more likely to own cryptocurrency as an asset in their investment portfolio and as a means for paying for things compared to white cryptocurrency owners, Principato explained.
Another reason may be that cryptocurrency is booming in Latin America, particularly in countries like Argentina and Mexico, where inflation is higher than in the U.S. That could inspire use by U.S. Hispanics who want to send money to those countries or who are just influenced by the enthusiasm, Principato added to CNBC.
“We are pleased to offer cryptocurrency capabilities to our customers through Coin Cloud’s network of DCMs,” said Prabash Coswatte, Chief Operating Officer for Cardenas Markets. “Through this unique offering, we continue to deliver on our commitment to meeting our customer’s evolving needs, especially in today’s digital world,” Coswatte added.
Coin Cloud DCMs offer Bitcoin (BTC) and over 40 other digital currency options, like Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu Coin (SHIB), Ethereum (ETH), and a range of stablecoins and DeFi tokens. New coins added recently include Cardano (ADA), Nano (NANO), SushiSwap (SUSHI), Algorand (ALGO), Polygon (MATIC), OMG Network (OMG), and ApeCoin (APE).
The locations of all Coin Cloud Bitcoin ATMs and DCMs can be found at www.Coin.Cloud/dcms.
Coin Cloud, a Digital Currency Machine (DCM) company committed to Digital Currency for All since 2014, operates more than 5,800 DCMs across the U.S. and Brazil. The company serves its customer base in all their digital asset needs via its Coin Cloud Wallet, mobile app, online purchasing of digital currencies and exclusive NFTs, and Private Client Desk.