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Seeking Alpha
2021-08-23 20:18:39

El Salvador to open Bitcoin ATMs, kiosks for citizens starting in September

El Salvador to open Bitcoin ATMs, kiosks for citizens starting in September

As part of its move to make bitcoin legal tender, El Salvador will open 200 ATMs and 50 kiosks to allow its citizens to convert Bitcoin (BTC-USD) into U.S. dollars and then withdraw those dollars for cash starting Sept. 7, President of El Salvador Nayib Bukele said in a tweet. The bitcoin (BTC-USD) exchanges will run through the government's Chivo App, and there will be no transaction fees, TheStreet reports, citing the tweets. "A Salvadoran abroad will be able to send money instantly to their relative in El Salvador," Bukele tweets. Bitcoin (BTC-USD) is up 1.7% at $49.3K on Monday as it struggles to surpass $50K resistance. In June, El Salvador legislature made bitcoin legal tender.

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