El Salvador's Bitcoin Day! ๐๐ค
El Salvador became the first country to adopt bitcoin as a national currency on Tuesday, kicking off a radical monetary experiment that could pose risks to the fragile. - CNN Business
President Nayib Bukele announced that the government has purchased 200 BTC, ahead of the adoption of El Salvador's official currency. El Salvado has 400 BTCs, which is currently $21 million.
According to laws that specify bitcoins as legal currency, all economical brokers must accept cryptographic acceptance in a manner. Tax payment can be through bitcoin.
The people can receive the 'Chivo Wallet', the application made by the government, and receives a bitcoin of $ 30 with incentives.
El Salvador has been working with Strike, a Digital Financial Company and built necessary infrastructure. Encrypts are kept in a digital wallet, not a traditional bank account.
The El Salvador government is convinced that use the bitcoin as a court monetary to attract new investments. The authorities also hope to reduce the fee to pay for overseas remittances.
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