El Salvador To Install 200 Bitcoin ATMs As Part Of Crypto Rollout Plans

The government will install 200 of the teller machines to initially accompany its digital wallet called Chivo, a local slang term for 'cool,' President Nayib Bukele said

El Salvador began installing bitcoin ATMs, allowing its citizens to convert the cryptocurrency into U.S. dollars and withdraw it in cash, as part of the government's plan to make the token legal tender. The government will install 200 of the teller machines to initially accompany its digital wallet called Chivo, a local slang term for 'cool,' President Nayib Bukele said on Twitter. Transactions will be commission-free, he said, adding that there will also be 50 financial branches across the country for withdrawing or depositing money. También habrán #CajerosChivo en todas partes y podrán retirar en EFECTIVO, las 24 horas del día y SIN COMISIONES, por más que la oposición diga lo contrario.El problema para ellos es que podrán convencer a algunas personas de que sí habrán comisiones, pero solo hasta el 7 ???? pic.twitter.com/H8gkYTEucc Adopting Bitcoin will save Salvadorans $400 million per year in fees for receiving remittances from abroad, Mr Bukele said.