Located in the Cocoa Café in the tourist area of El Zonte beach, is the first Bitcoin ATM in El Salvador. The news was shared by Bitcoin Beach via Twitter.
First #Bitcoin ATM in #The Savior. #ElZonte @PeterMcCormack @costaviva_sv @nayibbukele #surfcity pic.twitter.com/V8ZRM8RE2Y
– Bitcoin Beach (@Bitcoinbeach) February 4, 2020
In another tweet, Bitcoin Beach mentioned that the cashier was being supported by Athena Bitcoin, one of the leading companies that works with cryptocurrency ATMs in Latin America and different regions in the United States.
In conversation with Bitcoin Beach, they assured us that the cashier offers both options for buying and selling BTC. The team also provides the option to trade with Litecoin and Bitcoin Cash, although, the Bitcoin Beach team assured us that they only recommend operating with BTC.
Bitcoin growth in El Salvador
Led by Michael Peterson, an American who fell in love with El Salvador, Bitcoin Beach is a project designed to boost the use of Bitcoin in the areas of Punta Mango and El Zonte, regions located in the east of the country. The objective of the project, Peterson explains, is to alleviate the problems created by poverty within the Central American nation. Likewise, it seeks to help the unbanked sector of the population that reaches 90% of its total.
Peterson is not the only one who has been working in El Salvador, Peter McCormack, highly recognized within the industry, was also recently in Salvadoran territory to boost the use of Bitcoin within its citizens. As reported via Twitter, he was doing a “training” of Bitcoin to keep young people out of gangs through reward programs with BTC.
Bitcoin training in El Salvador. Keeping kids from the gangs with Bitcoin reward programs for community projects.
Local stores accepting Bitcoin to create a circular economy. pic.twitter.com/UGG9FutqbO
– Peter McCormack (@PeterMcCormack) December 18, 2019
Even from the government spheres they are already keeping an eye on cryptocurrencies in general, although, unfortunately, it has been done with a somewhat negative perspective. As we mentioned earlier in Cointelegraph, Salvadoran prosecutors and lawyers had a training day at the end of 2019 to evaluate the use of cryptocurrencies in human trafficking.
Beyond this training day, the government headed by Nayib Bukele has not enacted laws or policies that are geared towards the use of cryptocurrencies. Although, Bukele came to mention via Twitter during 2017 (two years before assuming the presidency of El Salvador) that “we will use Bitcoin” and mentioned the official account of the Central Bank of El Salvador.
Well yes, it is official, we will use Bitcoin ? cc. @bcr_sv
– Nayib Bukele (@nayibbukele) November 7, 2017
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