Athena confirms plans to bring 1500 Bitcoin ATMs to El Salvador

Athena Bitcoin was founded in 2014 by three tech entrepreneurs. The company’s main business is in the cryptocurrency exchange market.

One of the main focuses for Athena Bitcoin is to bring more bitcoin ATMs to the Latin American and Caribbean region. Today the company announced that it is planning to bring 1500 bitcoin ATMs with the first locations already planned for Mexico and the Dominican Republic.

Athena Bitcoin ATMs will be shipping into El Salvador this month. This facility will be the first to provide a Bitcoin ATM in Central America, and will be housed within the new bitcoin-only supermarket, called Supermercado Athena. The ATMs will be installed in the supermarket’s first two locations, located in San Salvador and Santa Ana.

US-based Athena plans to equip El Salvador’s new crypto economy with 1,500 bitcoin ATMs, a company spokesperson confirmed.

The implementation will start on a small scale, testing a few dozen machines to build a business model. The Chicago-based company plans to invest more than $1 million to install crypto-currency ATMs in areas whose residents receive money from abroad.

In addition to installing the new machines, the company will also hire employees and open an office for its operations in El Salvador.

Athena currently operates only two such ATMs in El Salvador: one in El Zonte Beach as part of an experiment called Bitcoin Beach, which aims to make the city one of the world’s first crypto-economies, and the other in El Tunco, CNN reports.

Matthias Goldenhorn, Athena’s director for Latin America, told Reuters that El Salvador’s president, Nayib Buquele, has set us an ambitious goal of 1,500 ATMs, which we will reach, but in stages. We are a private company and we want to ensure the sustainability of the land.

The 17th. In June, Athena announced plans to expand in the country when lawmakers passed a law recognizing bitcoin as legal tender. The company approached President Bukela and asked him if a thousand cars would be enough. He replied that he was aiming for a higher number.

1,000 ? How about 1,500? #BTC♻️

– Nayib Bukele (@nayibbukele) June 16, 2021

Goldenhorn said the business model will likely be different than in the U.S., where there are currently a total of 19,325 BTC ATMs, according to Coinatmradar.

First, we’re going to bring in dozens of cars, test the business model in El Salvador, which will likely be different than in the U.S.

Related: Athena Bitcoin installs first dollar-powered bitcoin ATM in Argentina

El Salvador’s plan to adopt bitcoin has already met with resistance from the World Bank, which has refused to help the country move forward, citing environmental and transparency shortcomings related to the digital asset.

The 22nd. In June, Cointelegraph reported that an opposition political party had filed a lawsuit claiming that the new bitcoin law could be unconstitutional and harmful to the country.When Athena Bitcoin Exchange announced late last year they would be bringing over 1500 Bitcoin ATMs to El Salvador, they received a great deal of press. In 2014, Athena brought over 1,000 ATMs to El Salvador, and have since been expanding rapidly in Mexico and Colombia.. Read more about local bitcoin el salvador and let us know what you think.

Related Tags:

bitcoin atm location in el salvadorbitcoin atm in el salvadorbitcoin atm machine in el salvadorwhere can i buy bitcoin in el salvadorlocal bitcoin el salvadorathena bitcoin,People also search for,Privacy settings,How Search works,eToro,Financial services company,bitcoin atm location in el salvador,bitcoin atm in el salvador,bitcoin atm machine in el salvador,where can i buy bitcoin in el salvador,local bitcoin el salvador,athena bitcoin,el salvador currency

Recent Articles

How to Buy Everex (EVX) | Step By Step Guide 2018

Everex is a platform that aims to bring the benefits of blockchain technology to emerging markets. With its own cryptocurrency, EVX, Everex allows users...

Visa and Worldpay Take Blame for Erroneous Charges on Coinbase

A recent report from the Wall Street Journal revealed that two of the largest payment processors, Visa and Worldpay, were responsible for erroneously charging...

Conflux Network Price Prediction – How Much Will CFX Be Worth in 2021?

Conflux has a bright future ahead of it. With the release of their new platform and the upcoming changes, we believe that this coin...

How Long Does it Take to Mine a Bitcoin?

Bitcoin mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security. Mining is...

Siacoin Price Prediction for 2020, 2022, & 2025 – Crpyto Coin Society

Siacoin is a decentralized storage platform. The company’s goal is to provide a decentralized cloud storage network, which will allow users to store and...

Related Stories