The Athena Bitcoin Company will work in the first phase of setting up an ATM in each department. With the first stage, the Central American country would be among the Latin nations with the most teams.
The bitcoin automated teller machine (ATM) operator, Athena, will start placing 1,500 new equipment in El Salvador at least; there are barely 3 of them. The company is still trying to calculate how long it will take to complete the assembly of all the machines, but once it does, the small Central American nation will rank in the list of countries with the most crypto active ATMs in the entire world.
Anthena states that the speed and dynamism with which the people of El Salvador adopt bitcoin will be vital for this initiative. This Bitcoin Law is something new in the history of the world economy, so there must be adjustments in the expansion according to the speed with which people need these ATMs.
Athena Bitcoin’s initial plan is to put an ATM in each of the 14 departments of El Salvador, for which the company calculates to invest more than 1 million dollars.
As part of this initial plan that came to fruition after the enactment of the Bitcoin Law, the first of this equipment faced its installation on Thursday, June 24, in the La Gran Vía shopping center in the Antiguo Cuscatlán municipality, which belongs to the department of La Libertad in San Salvador.
In February of last year, Athena installed its first equipment in Salvadoran ground. The ATM’s location is at Café Cocoa on El Zonte beach. There is also a third ATM in El Tunco beach, but it belongs to another operator, both in the department of La Libertad.
El Salvador Would have More Bitcoin ATMs than Canada
Although there is no timetable showing when there will be 1,500 bitcoin ATMs in the Salvadoran Nation, if this installation succeeds, El Salvador would be ranking along with countries like Canada, which currently possesses 1,379 ATMs. The United States of America is the only one that surpasses that figure, which has more than 16,000 computers, as shown by the ranking of countries with the most BTC ATMs worldwide, created by the Statista pollster.
Upon completing the first phase of 14 installed bitcoin ATMs, El Salvador will be among the Latin American countries with the highest average of these devices on its territory. It is also vital to consider 28 devices based in Colombia, 18 in Panama, and 16 in the Dominican Republic.
With a territory of just 21,040 km2 and a population of approximately 7 million people, the Central American nation is perhaps one of the smallest countries in the world that would have the biggest bitcoin ATM coverage. The country would have a reach of fewer than 4,000 people per device.
By: Jenson Nuñez
