El Salvador at present hosts the tertiary-largest network of crypto ATMs later on the United States and Canada, amounting to 70% of all crypto ATMs in South America.

According to data from Coin ATM Radar, El Salvador has exceeded Uk's crypto ATM count afterward deploying 205 crypto ATMs to date to facilitate local Bitcoin transactions and conversions from Bitcoin (BTC) to U.S. dollars.

Comparing this to Statista data from Aug. 16, it becomes axiomatic that El Salvador has successfully installed 201 ATMs in but one month. Beforehand, the land ranked 43rd on the list with just 4 functional crypto ATMs.

President Nayib Bukele had previously stated that Bitcoin'due south adoption would be initially supported by a network of 200 ATMs and 50 branches. The Salvadoran authorities has partnered with an in-business firm cryptocurrency wallet provider named Chivo to ability the BTC wallets and ATM usage in the country.

Crypto ATM installations are at an all-time high around the world, with 27,664 active machines and 2,790 new machines being added in September. The increase in El salvador's ATM installation bulldoze aligns with the contempo presidential society that requires all businesses to accept payment in Bitcoin. All the same, the merchants retain the choice to catechumen Bitcoin payments to USD before withdrawing their earnings.

While other jurisdictions are yet to make up one's mind on Bitcoin's use case as a mainstream asset, an average of 63.seven ATMs continue to get installed globally every day. Genesis money remains a leading crypto ATM manufacturer with a market share of twoscore.7%, while General Bytes and BitAccess represent 22.7% and 12.7% of the market place, respectively.

Related: Protesters fire Bitcoin ATM as role of demonstration against El salvador president

El salvador'due south Bitcoin adoption has seen some resistance from locals, which recently led to the called-for of a Chivo-supported Bitcoin machine. Those protesting adoption of Bitcoin highlighted concerns regarding doubtfulness, price fluctuation and lack of exposure to the crypto market.

The Chivo kiosk is the government's outset endeavour to create an infrastructure for BTC and U.S. dollar conversions. Currently, El salvador uses both Bitcoin and the U.Southward. dollar every bit legal tender.