The President of El Salvador, Nayib Bukele, tweeted that El Salvador’s official Bitcoin wallet Chivo Wallet will be launched on September 7. The government will not force residents of the country to accept Bitcoin as a method of payment.
Salvadoran citizens download Chivo Wallet in the app store and will receive 30 USD worth of Bitcoin. Chivo allows citizens to automatically convert Bitcoin transactions into U.S. dollars, which can be kept in Bitcoin wallets or cashed on 200 ATMs in El Salvador Form extraction. Nayib Bukele emphasized that El Salvadoran citizens can selectively download apps to send and receive remittances without paying any fees, and citizens who are unwilling to use it can not download the wallet. Using Bitcoin is not mandatory.
According to the chain, the El Salvadoran legislature passed a bill in June this year to establish Bitcoin as legal tender. The country must wait another 90 days after it was published in the official gazette. The wallet launch time on September 7 is also the effective date of the Bitcoin law in El Salvador.
Post time: Aug-24-2021