Today, bitcoin has become an official legal means of payment in El Salvador. President of El Salvador Nayib Bukele said that now all countries of the world will look closely and with delight at their state.
Bitcoin officially becomes a means of payment in the country. The authorities of El Salvador hope that the adoption of bitcoin as a means of payment at the state level will help improve the economy in the country, attract more tourists from around the world and open up new opportunities for startups and businesses. The iconic McDonald's restaurant has become the first place where you can directly pay with bitcoins and without conversions.
Today, El Salvador has purchased approximately 400 bitcoins worth about $20,400,000, in order to bring stability to the state project, as well as to add bitcoins to the state treasury.
Now, for residents of El Salvador who want to make transactions in digital gold, a Chivo Wallet will be provided, where Salvadorans can store and use bitcoins without a commission. The government also says that local residents will be able to convert dollars to bitcoin and vice versa absolutely for free through a wallet.
President Nayib Bukele suggested that many countries will not understand this step here, but he is certain that his state needs to remain confident, technologically savvy, in order to keep up with innovations. Chivo Wallet is an official wallet that was developed by El Salvador, today it is already becoming available to every citizen of the country.
New users of this wallet receive a nice bonus of $30 in bitcoins after accepting this application, even if you are not a resident of El Salvador, you have the opportunity to receive this bonus.
The Government of El Salvador has taken a list of precautions to ensure that Salvadorans can freely access the site of the Chivo wallet, as well as to ensure that all their data remains confidential and is protected from fraudsters.
Chivo Wallet can be downloaded for Android via Google Play. The app is also available in the AppStore for iPhone users. The government of El Salvador also states that you can use bitcoin and store them at your own discretion, no one imposes this payment method. However, it is worth knowing that the dollar as a fiat currency is still the base currency for salaries, accounting and various types of payments.
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