Edgar Borja, CEO of Kioskos K1, designed and built the first Bitcoin ATM in El Salvador.
The K1 can host Bitcoin wallet platforms like Strike. The machine is fully activated for strike payment.
The kiosk can accept payments in bills and send Bitcoin to a user’s strike wallet. Strike is the most popular Bitcoin payment platform in El Salvador and was instrumental in liberating El Salvador from the dollar by legalizing Bitcoin as a currency.
K1 users can also sell Bitcoin at ATMs for cash. The ATM sends users a text message as a one-time password to authenticate the sender or recipient of the bitcoin or dollar.
Its standout features include an advertising screen, touch screen, two security cameras and an administrative dashboard.
K1 is made in El Salvador and its ability to host multiple Bitcoin-enabled platforms means the machine can be customized to meet the needs of any customer or location where it is installed. The K1 can act as a bitcoin cash register, service payment point, bank terminal and more.
Edgar Borja has so far sold a K1 ATM. According to the K1 website, the cost of one machine is $ 15,000. Monthly maintenance is $ 250. But unlike a human cashier, the K1 can work around the clock, and the automated cashier can recover 100% of its initial cost in just 15 months.
But Edgar plans to turn El Salvador into an ATM manufacturer via K1 and soon bring the devices to a high-tech device exporter. By then he is already working on small personalized devices for buying, selling, sending and receiving Bitcoin.
