After passing Bitcoin law, El Salvador will now get 1,500 Bitcoin ATMs 

With El Salvador’s recent decision to make bitcoin its legal tender, one of the first companies that would attempt to tap into its massive potential is Athena Bitcoin. This is a U.S. company headquartered in Chicago and operates crypto ATMs in North and South America. 

The ATM network operator has announced its expansion in El Salvador where it plans to install 1,500 Bitcoin ATMs, which could increase depending on the demand. The company also operates in Michigan, Puerto Rico, Argentina and Colombia. 

Athena offers an easy way for people to buy and sell bitcoin through its machines to make cryptocurrency more appealing to the masses.  

Crypto scene in El Salvador

The Central American country already has a Bitcoin ATM provided by another company, which is located in Playa El Tunco. While Athena Bitcoin has machines on a nearby terminal on Playa El Zonte and in a shopping center in Antiguo Cuscantlán, and now on its way to add a thousand more ATMs. 

Bitcoin ATM network operators like Athena earn revenue by charging a percentage for every crypto purchase done through its machines. 

Major challenges

El Salvador is less than three months away from becoming an official “Bitcoin nation,” and while this move is seen by many as an innovative decision, the country, which literally means “The Savior” will face major challenges. 

First, the World Bank has refused to help the country in implementing its Bitcoin legislation, and second, the International Monetary Fund expresses no interest in helping El Salvador in its transition. 

Matters about macroeconomics, financial and legal concerns are among the top reasons why the country is receiving cold shoulders from global financial bodies. 

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/after-passing-bitcoin-law-el-salvador-will-now-get-1500-bitcoin-atms/