September 30, 2023

Taylor Daily Press

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El Salvador places 50 bitcoin processor Chivo ATMs in the United States

El Salvador places 50 bitcoin processor Chivo ATMs in the United States

El Salvador is going to bring Civo ATMs to many American cities. Through this step they want to make it easier to send money in Bitcoin.

Bitcoin ATMs are located in the United States

There are already 199 Bitcoin ATMs in San Salvador. Despite being knocked down by protesters yesterday in San Salvador, President Naib Boukel’s group is quietly building.

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He had 50 Chivo devices in 10 locations in the United States. But this is only in places where the rules are in place.

These are Los Angeles and San Francisco in California; Four cities in Texas, Doral in Florida; Three cities in Illinois. Finally, the world map of Chihuahua on the Internet shows two locations in Columbus (Ohio).

The whole idea behind Chivo is that El Salvadorans can send cheap money with Bitcoin Fare train. Paying via Lightning Network is almost free and very fast.

By providing Chivo in the United States, El Salvadorans living in the United States can be more easily sent home (through the app’s internal database).

Remittance and transfer

According to the Pew Research Center, about 2.3 million Hispanics of Salvadoran descent (including U.S. citizens) lived in the United States in 2017. The above areas have welcomed many of them over the past decade as a result of the Civil War.

Bukele estimates that more than 500,000 users have registered for government use. They all got $ 30 in Bitcoin thanks to (and IncentiveTo login.

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This way, millions of people can now send money across national borders without having to rely on expensive payment processors like Western Union.

The president also estimates that Salvadorans spends $ 400 million a year on transaction costs. In 2018, wire transfers from the United States accounted for 21% of El Salvador’s GDP.

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