El Salvador Is Giving $30 In Bitcoin To Its Citizens
Ahead of the September 7 bitcoin law implementation date, El Salvador President Nayib Bukele has unveiled a new government crypto app. The government-issued app, which is known as Chivo, will be used to distribute the bitcoins to citizens. According to reports, every citizen that downloads and registers for the app are automatically eligible for the […]
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Currently sitting at nearly 35k, Bitcoin’s price this week has been effected good and bad, by both news from China cracking down on the coin, and that El Salvador is giving each of it’s citizens $30 of BTC. But thankfully, market analysts are still exceedingly bullish on Bitcoin breaking $40K quite soon. This due to […]
It has been one year since Bitcoin became legal tender in El Salvador. Crypto adoption has not been without issues in El Salvador, but it’s difficult to weed through the different stories about Bitcoin because there are so many competing interests promoting or FUDing Bitcoin. This article will filter through the nonsense and describe how Bitcoin in El Salvador has panned out one year after it became legal tender. Why El Salvador Made Bitcoin Legal Tender El Salvador made Bitcoin legal tender ostensibly for a few reasons. The government cited the following reasons: A significant portion of....
El Salvador tapped crypto software firm AlphaPoint to fix numerous problems with its state Chivo wallet and help citizens adopt Bitcoin.
As a development bank for El Salvador, BANDESAL created a $150 million trust fund to guarantee the convertibility to dollars for citizens and merchants. Ever since El Salvador legalized Bitcoin (BTC) as mainstream tender, President Nayib Bukele used Twitter on numerous occasions to announce the country’s BTC acquisitions. However, ALAC El Salvador — a non-governmental anti-corruption bureau — was recently denied information from a state development bank, BANDESAL, regarding El Salvador’s Bitcoin purchases and sales.As a development bank for El Salvador, BANDESAL created a $150 million....