Home Payment processors El Salvador places 50 Chivo ATMs in the United States

El Salvador places 50 Chivo ATMs in the United States

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El Salvador will bring Civo ATMs to many American cities. Thanks to 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 overthrown by demonstrators yesterday in San Salvador, President Naib Boukel’s group is slowly building up.

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He had 50 Chivo devices in 10 locations in the United States. But that’s only 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 Chihuahua World Map on the Internet shows two locations in Columbus, Ohio.

The idea behind Chivo is that Salvadorans can send cheap money with Bitcoin Train fare. Paying through Lightning Network is almost free and very fast.

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

Handover and transfer

According to the Pew Research Center, an estimated 2.3 million Hispanics of Salvadoran descent (including US citizens) lived in the United States in 2017. The above regions have hosted many of them in the past. decade following the Civil War.

Bukele estimates that over 500,000 users have registered for government use. They all received $ 30 in Bitcoin thanks to (and MotivationOpen a session.

In this way, millions of people can now send money across national borders without having to resort to expensive payment processors like Western Union.

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

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