El Salvador Bitcoin Wallet Launches September 7

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Bitcoin’s official legal tender status in El Salvador will take effect in a few weeks, and those who download the Chivo wallet will receive 09 dollars in Bitcoin. El Salvador is the first country in the world to make Bitcoin legal tender. This decision should come into effect in less than a month, and the government is currently working on setting up the necessary infrastructure. President Nayib Bukele has revealed that the Bitcoin wallet , supported by the government, will be launched on September 7. This will be the day when Bitcoin becomes an official legal tender in El Salvador. Citizens will be able to start downloading the Chivo Wallet from September 7th. The government has maintained that downloading the wallet and using Bitcoin as legal tender is optional. However, those who download and use the wallet will receive 30 dollars in BTC. According to President Bukele, the wallet will allow Salvadorans to pay for their goods and services using Bitcoins and the US dollar. In addition, tourists and people without nationality will have access to this wallet, as the government seeks to promote the use of BTC through the digital wallet. The Chivo wallet will allow people to convert easily BTC to US dollars and vice versa. The US dollar is El Salvador’s other official currency, and the government wants citizens to be able to easily spend either one. El Salvador has announced that it will adopt Bitcoin as legal tender a few months ago. Although it faced initial difficulties after the World Bank rejected its request for assistance in building the infrastructure, the government endeavored to do it itself. Last week, Banco Central de Reserva (BCR), the central bank of El Salvador, released two documents intended to guide banks and other financial institutions on how to offer Bitcoin-related services to citizens . The first document defines Bitcoin as legal tender in El Salvador, revealing that it will come into force on September 7. The second document contains clear guidelines on how financial institutions in the country can offer Bitcoin services to their customers. The post El Salvador Bitcoin Wallet to Launch on September 7 appeared first on Buy Bitcoin.

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