Children exchange coins for bitcoins in a homemade ATM created in El Salvador

Children in El Salvador used the k1 mini, an ATM that can convert physical coins into bitcoins. saturation or bitcoin cents (BTC). The device was created by Salvadoran Edgar Borja, who claims to have agreements to install it in much of Latin America.

A video shared on Twitter by CryptoNews shows a group of children waiting in line to exchange their pennies for sats across the bitcoin ATM running on the Lightning micropayment network.

“Many people bought their first satoshis with this device and had a satisfactory experience because it is so easy to use.” commented Borja during the conference The Adoption of Bitcoin which was held Nov. 15-17 in El Salvador.

Borja, CEO of the K1 company, said his bitcoin ATMs feature. software and hardware produced entirely in El Salvadorand have already gone as far as Switzerland. This is shown in a video published on YouTube, where it can be seen that the device is in use with Swiss francs.

The Salvadoran company is now focusing on the next step, developing the first batch of ATMs. k1 mini plus, which will convert banknotes into bitcoin. “We already have orders to install them in several Latin American countries, to work with Colombian, Mexican, Argentine and Brazilian reals,” Borja added.

Distribution of the first batch is scheduled to begin in January 2023, when also, bitcoin ATMs will be available to the people of El Salvador. To date, users in the country must have an ID in order to use Chivo Wallet, the government platform created to boost the use of bitcoin among the population.

Although the k1 mini is Salvadoran-made, it is not the first of its kind: in Spain, in fact, the company ATMbitbit installed its first ATM in the city of Madrid last September. Like the CryptoNoticias reported. at the time, the team allows users to convert their change or pocket change into bitcoin.