Bitcoin has officially become a legal currency and gives every citizen $30
Bitcoin has officially become a legal currency in El Salvador
Although intent was announced for a few weeks, El Salvador today became the first country in the world to adopt Bitcoin as a legal currency.
President Ned Bukele confirmed on Twitter that the government was ready to “make history,” for which he bought 400 bitcoins, which would give each citizen a total of $30, or about 0.00059 bitcoins.
The idea is that all residents will have the cryptocurrency in their possession so that they can use it and see its benefits.
Your money can be managed through Chivo Wallet, the official app developed by the government as a digital wallet for this cryptocurrency.
The government has made it clear that those users who do not want to use Chivo Wallet or Bitcoin as fiat currency will not have to do so, but this is an opportunity to learn about new technologies and ways to explore the economy. In addition, from Chivo Wallet they can convert their cryptocurrency into cash quickly, easily and without commissions.
The Chivo Wallet will be available for download worldwide and available on the App Store and Google Play…
The government has also made it clear that stores will have to accept bitcoin as a form of payment, and that even Salvadorans will be able to pay their taxes with bitcoin.