0.6% of all cryptocurrency ATMs in the world are in El Salvador

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By LatAm Reports Staff Writers

El Salvador has more than 200 cashiers installed nationally, according to Coin ATM Radar.

Despite being the only country on the continent with bitcoin as a legal tender, only 0.6% of cryptocurrency ATMs installed worldwide are in El Salvador, according to statistics from the Coin ATM Radar site.

The platform notes that globally they have been installed38,151 ATMs of cryptocurrencies215 of whom are in El Salvador. The United States is the market with the largest number of units, with 31,497 registered and represent 82.6 percent of the total overall.

The figures indicate that Canada is the second with the most cashiers, after accumulating 2.940, 7.7 per cent of the total, while Australia adds another 1,104.

Digital asset site Cointelegraph explained in an article published on June 30 that Australia has seen an increase in cryptocurrency ATMs almost 17 times in the past two years.

Fourth is Spain with 313 and Poland with 279 cashiers, while El Salvador is the sixth country with the most ATMs in the world, specifically linked to bitcoin.

Cointelegraph points out that, below El Salvador, there is Poland, Germany and Hong Kong.

“Among the 193 countries recognized by the United Nations around the world, 72 are home to an ATM of cryptocurrencies,” says the Cointelegraph publication.

Of the region, Puerto Rico has 104 devices, Mexico adds 68, in Panama there are another 32 and the Dominican Republic reports 17 ATMs.

The Salvadoran government established bitcoin as a legal tender currency in September 2021. Despite the economic incentives, very few people currently use it.

The Central Reserve Bank (BCR) revealed in research published this year that most Salvadorans save their money in savings accounts, specifically 63.04 per cent, while 7 per cent are current account holders.

For its part, 28 per cent prefer cash and a 2 % of SalvadoransIt saves under other modalities, including investment funds and wallet in bitcoin.

This article has been translated after first appearing in Diario El Mundo