El Salvador to install 200 ATMs with Bitcoin conversion option
By September 7, Bitcoin operations will be available at 200 ATMs and 50 bank branches. The country has begun preparing the infrastructure for the entry into force of the law recognizing Bitcoin as legal tender.
There will also be #CajerosChivo everywhere and they will be able to withdraw cash, 24 hours a day and WITHOUT FEES, regardless of what the opposition says to the contrary.
The problem for them is that they will be able to convince some people that there will be fees, but only until the 7th 😘 pic.twitter.com/H8gkYTEucc
— Nayib Bukele 🇸🇻 (@nayibbukele) August 23, 2021
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The head of state Nayib Bukele assured that ATMs will eventually appear across the entire territory of El Salvador. Its residents will be able to withdraw cash 24 hours a day without commissions.
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‘What to do if someone isn’t interested in Bitcoin? Do not download the [Chivo] app and continue living your ordinary life. Nobody is going to take your dollars. […] You can always queue at Western Union and pay the fee’, — Bukele reminded.
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According to the Salvadoran president, citizens annually enrich remittance systems by about $400 million.
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Earlier, Bukele announced a $30 distribution in the first cryptocurrency to every adult citizen. According to him, this amount cannot be exchanged for dollars, as the aim is to encourage the use of digital gold and Chivo.
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In an interview with local television, Finance Minister Alejandro Zelaya announced the creation of a $150 million fund to support the conversion of the first cryptocurrency into U.S. dollars, Bloomberg reported.
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The bill recognizing Bitcoin as legal tender was adopted by the Salvadoran Parliament in early June.
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The opposition called unconstitutional the legalization of digital gold.
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The initiative also did not resonate with local money-transfer services — only some integrated support for Bitcoin. According to surveys, only 16% of residents agreed to receive salaries in digital gold.
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Athena Bitcoin will install 1500 Bitcoin ATMs in El Salvador.
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