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El Salvador Ranks Third In Worldwide BTC ATM Installations, As Per Coin ATM Radar

The Salvadoran government has installed over two hundred ATM machines in the month of September subsequent to adopting Bitcoin as a legal tender.

El Salvador now hosts the 3rd largest network of virtual currency ATMs after the US and Canada, comprising around seventy percent of all digital asset ATMs in South America.

As per data from Coin ATM Radar, El Salvador has crossed past the United Kingdom’s digital asset ATM count subsequent to deploying two hundred and five virtual currency ATMs to date to assist local BTC transactions and BTC to USD conversions.

While other regions are yet to decide on the use case of Bitcoin as a usual asset, an average of over sixty three ATMs continue to get installed worldwide every day. Genesis coin remains a leading virtual asset ATM manufacturer with a market share of over forty percent, while General Bytes and BitAccess represent around twenty two percent and twelve percent of the market, respectively.

El Salvador’s espousal of BTC has seen some reluctance from local natives, which lately resulted in the torching of a Chivo-supported BTC ATM machine. Those disagreeing with the espousal of Bitcoin emphasized apprehensions regarding unpredictability, price instability, and deficiency of exposure to the digital asset market.

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