El Salvador Just Two Weeks Away From Releasing 200 Bitcoin ATMS and 50 Bitcoin Kiosks

2021-08-24 20:54:05

El Salvador is just a couple of weeks away from releasing the country’s first ever bitcoin ATMs and bitcoin kiosks. More specifically, the president of El Salvador, Nayib Bukele, announced these news in an official statement. He said that the country intends to release a total of 200 bitcoin ATMs and 50 bitcoin kiosks. he deadline to implement the bitcoin vendors is 7th of September.

This new way of conducting crypto-transactions is specifically built to make it easy for bitcoin users. Particularly, to enable the users fast and secure exchanges of their crypto from bitcoins to USD. In addition, the users will also be able to withdraw their funds.

This will be possible thanks to a government app called Chivo.

Chivo is free, and it will not have any transaction fees whatsoever.

 

Bitcoin users of El Salvador can already download the Chivo Digital e-wallet and sign up. And the momeny you sign up, you instantly $30 in BTC.

 

El Salvador is one of the few countries that are already in the process of fully integrating cryptocurrencies into their society. Especially since the president Nayib Bukele is known for its pro-bitcoin policy and overall futuristic outlook when it comes to politics.

As a result, the central bank of El Salvador (BCR), issued two drafts regulations in order to legislate how banks are distributing bitcoin.

This means that any company or institution that wants to purchase/sell crypto in El Salvador will be subject of crypto regulations. Or as the official statement by the Banco Central de Reserva states:

We will have access in real time to all information related to the operations carried out, as well as information requested by clients.Central Bank of El Salvador

In order to back the exchange converisons, the government of El Salvador set a $150m state fund. This just goes to show the support that this project enjoys among state officials.  Starting with the ministers, and ending with the president Nayib Bukele. Who always make sure to show his pro-crypto views:

Our town pays $400 million (U.S.) a year in commissions on remittances. A Salvadoran abroad will be able to send money instantly to their relative in El Salvador. You can send you #bitcoin (if you want) or you can send you dollars, if you want.Nayib Bukele | President of El Salvador

 

Related Posts

Swiss Luxury Watchmaker TAG Heuer Will Accept Crypto

TAG Heuer is always on the forefront of watchmaking technology,...

Germany Presents Its First Ever Nationwide Guide For Crypto Taxes

Germany finally presents the first official nationwide crypto guide for...

Leave a Reply