Since El Salvador announced that it has passed its Bitcoin Law, the Central American country has continuously made its presence felt on the global news.
Now, it has made another headline by becoming the third country in the world with the largest number of Bitcoin ATM installations, next to the United States and Canada.
El Salvador accounts for 70% of the crypto machines in South America, which proves that the country has indeed prepared for the rollout of its ambitious and highly controversial crypto law.
In a data released by Coin ATM Radar, El Salvador has even exceeded the number of Bitcoin ATM machines installed in the United Kingdom.
Previously, the country was ranked 43rd, with just four Bitcoin ATM machines, but it has catapulted itself into rankings since it started preparing for its Bitcoin Law.
Initial deployment
As an initial preparation to facilitate Bitcoin payments in the country, President Nayib Bukele said that the government would first deploy a network of 200 ATMs and 50 branches that can support BTC transactions.
It has also created a digital wallet, called Chivo wallet, to make citizens’ Bitcoin transactions as smooth as possible.
Global BTC ATM installations
Ever since Bitcoin became a popular and valuable asset, there has been a surge of Bitcoin ATM installations all over the world.
There are approximately 27,664 machines in active operation in various parts of the globe, and a new batch of 2,790 BTC ATM machines will be put into service this month.
These crypto ATM machines are dominated by the “Genesis” brand, which is currently the top crypto ATM manufacturer with a market share of 40.7%. Other manufacturers such as General Bytes have a 22.7% share while BitAccess has a 12.7%.
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