El Salvador continues to shine in the crypto space after the decision of making Bitcoin a legal tender. Now, it’s been also revealed that Athena Bitcoin is planning to install BTC ATMs in the country.
Athena Bitcoin is planning to invest more than $1 million to install crypto ATMs in El Salvador, especially where residents receive remittances from abroad, a company representative stated this week.
The ability to buy and sell BTC
According to Athena Bitcoin’s website, you can use their ATMs to buy BTC or sell them for cash.
“The firm expects to gradually install some 1,500 ATMs, hire staff and open an office to carry out operations in El Salvador, which in June became the first country to adopt bitcoin as legal tender. The move takes effect in September,” according to official notes coming from Reuters.
El Salvador’s President Nayib Bukele “presented us with a tough challenge of 1,500 ATMs, we will go for that, but in phases. We are a private company and we want to ensure that our development in the country is sustainable,” said the firm’s director for Latin America Matias Goldenhörn.
Bukele addressed the crypto’s potential as a remittance currency for Salvadorans overseas.
“Initially we are going to bring dozens of machines, (we’ll) test what the business model is like in El Salvador, which will probably be different than in the United States,” Goldenhörn added.
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Boosting BTC adoption
Also, earlier today, it’s been revealed that there’s a national address to El Salvador’s citizens saw a first today: a president conducting a tutorial on how to use a Bitcoin wallet.
We’re not talking about any Bitcoin wallet; as Bukele announced previously, the Salvadoran government is working on a wallet application for the country to support the addition of Bitcoin as legal tender.
Stay tuned for more news.