Here We Go 200 Bitcoin ATMs in El Salvador - page 2.

famososMuertos

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Yes, 200 additional to the 5 pioneer ATMs that already existed at El Salvador:

Quote

1: https://coinatmradar.com/city/2995/bitcoin-atm-el-zonte/
1: https://coinatmradar.com/city/5262/bitcoin-atm-el-sunzal/
3: https://coinatmradar.com/city/6259/bitcoin-atm-san-salvador/

El Sunzal 1. El Zonte 1. San Salvador 3.

^{source: https://bitcointalksearch.org/topic/m.57632485}

These ATMs do not belong to the Chivo Wallet network and they do handle fees: fixed and percentage, also a min/max withdrawal and minimum buy/sell.

Fees are zero in "Chivo" Wallets and ATMs.

+ info: www.chivowallet.com/

shield132

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Quote from: verita1 on September 07, 2021, 10:14:40 AM

I have read that President Bukele pointed out that the Chivo wallet and ATMs will not generate payment of fees or commissions for the transactions that users carry out in the same way to the businesses that use these instruments such as the Chivo Wallet, ATM and points of sale.
The government is doing well, they are investing in their infrastructure to make it easier for residents to use bitcoin in their economy.
IMO, the ROI through remittances when using this new system will be covering the expenses.

https://www.criptonoticias.com/comunidad/adopcion/bukele-revela-como-funcionara-chivo-wallet-salvadorena-bitcoin/amp/

That's great, that's really great because bitcoin ATMs had so huge fees that it didn't even worth to ever withdraw from them. The most of the ATMs that I know had at least 20% fee of transaction. If you give away 1/5 if your money to 3rd party service for money withdraw, then you'll go bankrupt soon.

Quote from: zanezane on September 07, 2021, 01:01:50 PM

Well, how will these take profit then if they won't be taking any commissions? Are they like a state owned so they can be subsidized by taxes? Or there's some sort of transaction fees in there?

Maybe it's their strategy to offer service without fees for a while to increase adoption and make service comfortable for everyone for a while. It's typical business model, I remember how I was getting food with 50% discount and with free delivery for 2 months when the Bolt Food started operating.
I think they'll set fees in a year.

Leviathan.007

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Good news from El Salvador. But this could be great if you also include some yt like from people in El Salvador who use these ATM machines. 200 ATM machines right now can be a great step forward and we should see how the people of El Salvador will accept and use these machines. I think the same thing will happen to the other countries. It's just about time.

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Quote from: zanezane on September 07, 2021, 01:01:50 PM

Well, how will these take profit then if they won't be taking any commissions? Are they like a state owned so they can be subsidized by taxes? Or there's some sort of transaction fees in there?

Not quite sure what their angle is, but I saw this article which reported that the president released a statement that all merchants must acrot Bitcoin and use it through the chivo wallet;

Quote

During a Monday interview, Javier Argueta, legal advisor to El Salvador’s President Nayib Bukele, said that businesses that refuse to make transactions with Bitcoin and use the national Chivo wallet will face sanctions under the country’s Consumer Protection Law.

Forcing the entire citizens on a country to use a particular service would surely have its benefits, which comes at the expense of freedom ~ the top feature of Bitcoin.

zanezane

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Quote from: verita1 on September 07, 2021, 10:14:40 AM

I have read that President Bukele pointed out that the Chivo wallet and ATMs will not generate payment of fees or commissions for the transactions that users carry out in the same way to the businesses that use these instruments such as the Chivo Wallet, ATM and points of sale.
The government is doing well, they are investing in their infrastructure to make it easier for residents to use bitcoin in their economy.
IMO, the ROI through remittances when using this new system will be covering the expenses.

https://www.criptonoticias.com/comunidad/adopcion/bukele-revela-como-funcionara-chivo-wallet-salvadorena-bitcoin/amp/

Well, how will these take profit then if they won't be taking any commissions? Are they like a state owned so they can be subsidized by taxes? Or there's some sort of transaction fees in there?

terrorJR

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elsavador has really become one of the countries that is still friendly and 100 percent supports and adopts bitcoin on a large scale.
this is one example of a very good adoption not only buying assets in the form of bitcoins they have also started making rules that payments can make bitcoins there in any form of purchases such as products and MCD there.
now it's added with a pretty good thing, namely a bitcoin atm machine which adds to its own charm and is certainly one of the pretty good news at this time.
but until now I don't know about the workings of this atm, but what is certain is that the president at elsavador will not make this atm a source of business which means transaction fees here will not take up a lot of assets and may be free.

verita1

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I have read that President Bukele pointed out that the Chivo wallet and ATMs will not generate payment of fees or commissions for the transactions that users carry out in the same way to the businesses that use these instruments such as the Chivo Wallet, ATM and points of sale.
The government is doing well, they are investing in their infrastructure to make it easier for residents to use bitcoin in their economy.
IMO, the ROI through remittances when using this new system will be covering the expenses.

https://www.criptonoticias.com/comunidad/adopcion/bukele-revela-como-funcionara-chivo-wallet-salvadorena-bitcoin/amp/

mk4

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Quote from: Davidvictorson on September 07, 2021, 09:35:30 AM

What’s the transaction fees going to look like? I read on Wikipedia that, “transaction fees are 10-20% but can go as high as 25% and as low as 7%”. And also, that in some other countries hidden charges are as high as 15%.

https://en.wikipedia.org/wiki/Bitcoin_ATM

Those numbers are mostly with bitcoin ATMs operated for business purposes. I'm not sure, but I could almost guarantee that the fees will be a lot lower with these government-produced ATMs.

EDIT:

Source: https://cointelegraph.com/news/bitso-to-assist-the-launch-of-el-salvador-s-official-bitcoin-wallet-chivo

Davidvictorson

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What’s the transaction fees going to look like? I read on Wikipedia that, “transaction fees are 10-20% but can go as high as 25% and as low as 7%”. And also, that in some other countries hidden charges are as high as 15%.

https://en.wikipedia.org/wiki/Bitcoin_ATM

DanielBroonze

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Hello. All. As we know that El Salvador Allow BTC as a Legal Tender, the only one country to allow this.

Now see the BTC ATM In El Salvador

Topic: Here We Go 200 Bitcoin ATMs in El Salvador - page 2. (Read 354 times)