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General Market News

Athena Plans to Deploy 1,500 Bitcoin ATMs in El Salvador

KahoobbBy KahoobbJune 25, 20212 Mins Read
Athena Bitcoin
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As El Salvador’s Bitcoin Law has now passed, it’s very important for there to be a way that is easy for individuals to purchase bitcoin as it will be used as legal tender. Because as much as 70% of El Salvador’s citizens are unbanked, they will have to use an alternative from the traditional banking industry to purchase their bitcoin.

This is where Bitcoin Teller Machines (BTM) come in. A BTM is used to buy and sell bitcoin in person for people who do not have bank accounts or prefer to buy/sell with fiat. 58.5% of Bitcoin ATMs are transacted with cash.

US-based Athena Bitcoin plans to launch 1,500 BTMs in El Salvador. This will allow citizens of El Salvador to buy and also use bitcoin in a simpler way. 

If you’re curious where most BTMs are located, these are the statistics according to coinatmradar.

The top 3 countries for the amount of BTMs in order:

  • United States (19,416 locations)
  • Canada (1,556 locations)
  • United Kingdom (192 locations)

Currently, El Salvador is ranked #53 with two locations. After Athena Bitcoin installs 1,500 BTMs in El Salvador, it will put them in third place, beating the United Kingdom in the amount of BTMs installed.

(BTMs fund their operations by charging a fee. According to how many bitcoin atms, the Athena Bitcoin purchase fee is around 15% which is cheaper than the 7 other BTM operators listed.)

Athena Bitcoin ATM BTM El Salvador General Market News

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Featured Articles

News

Polygon Staking in Bitfinex with $189 Million Worth of MATIC

February 24, 2022By Crypto Times Network
AMA

SPYRIT AMA Recap

January 20, 2022By Crypto Times Network
News

Polygon is Partnering with Opera Browser to bring Web3 to the Masses

January 4, 2022By Crypto Times Network
Press Releases

New Dapp: Bulk Send Matic Tokens with PolygonSender

January 3, 2022By Crypto Times Network
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