Cryptocurrencies
El Salvador Offers $30 of Bitcoin to Citizens to Boost Its Use
- Government to create its own Bitcoin wallet called ‘cool’
- Bank accounts, salaries and pensions will remain in dollars
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El Salvador President Nayib Bukele doubled down on the country’s new law making Bitcoin legal tender and offered $30 worth of the cryptocurrency to any citizen who signs up for a digital wallet.
The government will create its own Bitcoin wallet called Chivo, which is slang for “cool” in El Salvador, Bukele said during a national address on Thursday night. The funds will be deposited into the account of any citizen who downloads it and registers as a user with their phone number and ID number, he said.