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Cryptocurrency ATMs to be installed in El Salvador


Athena Bitcoin plans to invest over $1 million to install cryptocurrency. ATMs in El Salvador, the first country to adopt bitcoin as legal tender. These ATMs will help in buying or selling them for cash.

”El Salvador’s president Nayib Bukele has given a challenge of 1500 ATMs”, said the firm’s director for Latin America Matias Goldenhörn.

A year ago Athena installed its first cryptocurrency ATM in El Salvador’s El Zonte beach, 49 km southwest of capital San Salvador, as a part of an experiment called Bitcoin Beach. The environmental & transparency issues of bitcoin is a hurdle because of which World Bank cannot assist the implementation of bitcoin in El Salvador. The International Monetary Fund finds macroeconomic, financial & legal issues in the adoption of cryptocurrency.

Source: Reuters

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