Athena Bitcoin Proposes Installation Of 1,500 Bitcoin ATMs in EL Salvador

On that account, El Salvador passed a bill earlier this month to make bitcoin a legal tender, to be effective on September 7.

As at the time of writing this news, the following information was gathered;

Athena Bitcoin said on Thursday that it plans to install Cryptocurrency ATMs in El Salvador with over $1 million and it be accessed anywhere residents receive remittances from abroad.

The firm expects to employ staff, open an office to carry out operations in El Salvador then install about 1,500 ATMs gradually.

Athena Bitcoin's director for Latin America, Matias Goldenhom has cited a publication published by the president of El Salvador, President Nayib Bukele on a tough challenge of setting up about 1,500 ATMs.

In addition, Goldenhom, reacted as follows; "we are a private company and we want to ensure that our development in the country is sustainable", furthermore "initially we are going to bring dozens of machines, test what the business model is like in El Salvador which will probably be different than that in the United States.

Other important updates from the news include;

About one year ago, Athena Bitcoin installed its first cryptocurrency ATM in El Salvador's El Zonte beach, aspart of an experiment called Bitcoin Beach aimed at making the town one of the world's first bitcoin economies.

It was also gathered that earlier this month, El Salvador passed a bill to make bitcoin a legal tender, to be effective on September 7.

On Thursday, President Bukele unveiled the country's official wallet application in addition to bitcoin giveaway.

In conclusion, the Bitcoin ATM provider also said that this week it plans to install bitcoin ATMs in El Salvador as the company set up a manufacturing hub in the country.

What are your thoughts about Athena Bitcoin's plan to install 1,500 ATMs in El Salvador?