The state cryptocurrency wallet of El Salvador will be fully operational from the beginning of next month. The president said this to Nayyib Bukele in a series of tweets.
[Twitter]https://twitter.com/nayibbukele/status/1429607967767289858
Along with the launch of the application, an airdrop will also be carried out - everyone who downloads, installs and launches a new product on their smartphone will receive an initial balance of $ 30 in Bitcoin.
At the same time, the use of Chivo (as the wallet is called) is an optional measure for every resident. Citizens who do not want to switch to a new means of payment do not need to participate in digital innovation, but for those who are interested, wallets will allow settlements in BTC or dollars between individuals and businesses, no matter where in the world they are located. Moreover, stateless people will also be able to use the app without any restrictions.
Bukele noted that at the moment the government is developing the appropriate infrastructure with might and main - by September 7, 200 ATMs and 50 bank branches will appear on the streets of the country, where it will be easy to make transactions with bitcoin.
[Twitter] https://twitter.com/nayibbukele/status/1429607967767289858?s=20
Chivo's new wallet will have the ability to automatically convert cryptocurrencies into dollars at the time of payment. Users also cash out their bitcoins and then cash them out at 200 ATMs and 50 banks around the country. The latter allow you to deposit and withdraw funds, as well as speak at troubleshooting and cryptocurrency training centers in the wallet infrastructure. Recall that El Salvador adopted a law on the legalization of bitcoin in June this year - it comes into force on September 7.
