{"id":44954,"date":"2021-06-25T11:27:59","date_gmt":"2021-06-25T08:27:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44954"},"modified":"2025-08-31T19:24:07","modified_gmt":"2025-08-31T16:24:07","slug":"el-salvador-to-give-each-adult-resident-30-in-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/el-salvador-to-give-each-adult-resident-30-in-bitcoin\/","title":{"rendered":"El Salvador to give each adult resident $30 in Bitcoin"},"content":{"rendered":"<p>The president of El Salvador, Nayib Bukele, unveiled the cryptocurrency wallet Chivo. After registering in the app, every adult resident will receive $30 in Bitcoin.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">With the incentive of the $30 in <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> we want the population to use this system and Bitcoin as legal tender, to multiply money in the economy and help drive the country&#8217;s economic growth <a href=\"https:\/\/t.co\/uIHHzpixgi\">pic.twitter.com\/uIHHzpixgi<\/a><\/p>\n<p>\u2014 Casa Presidencial (@PresidenciaSV) <a href=\"https:\/\/twitter.com\/PresidenciaSV\/status\/1408254436569460738?ref_src=twsrc%5Etfw\">June 25, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The app will be available on Android and iOS, and will also be compatible with other wallets. To participate in the cryptocurrency distribution, users must verify their identity.<\/p>\n<p>Chivo will allow sending and receiving Bitcoin, as well as converting them to dollars. Purchases can be paid for using a QR code.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe app will work wherever there is mobile network coverage. Bitcoin usage will be optional,\u201d the president said.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/datacommons.org\/place\/country\/SLV?topic=Demographics&#038;hl=ru\">Data Commons<\/a> data from 2019, El Salvador&#8217;s population was 6.454 million. As analyst Willy Woo suggested, if 4.5 million adult residents start using Chivo, the number of Bitcoin users would \u201cinstantly\u201d rise by about 2.5%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Assuming all 4.5m adults in El Salvador take up this offer, it\u2019s roughly a 2.5% overnight boost to <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a>\u2019s global user count. <a href=\"https:\/\/t.co\/KwkYvb2fEE\">https:\/\/t.co\/KwkYvb2fEE<\/a><\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\"https:\/\/twitter.com\/woonomic\/status\/1408261901029494795?ref_src=twsrc%5Etfw\">June 25, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Salvadoran parliament <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvador-passes-bill-recognizing-bitcoin-as-legal-tender\">passed<\/a> the bill recognizing Bitcoin as legal tender in early June. The measure will take effect on September 7, 2021.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">La <a href=\"https:\/\/twitter.com\/hashtag\/LeyBitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#LeyBitcoin<\/a> will enter into force on September 7. Bitcoin will be a legal tender, and unlike what many have said, the dollar will also remain as legal tender, as explained by the President <a href=\"https:\/\/twitter.com\/nayibbukele?ref_src=twsrc%5Etfw\">@nayibbukele<\/a>. <a href=\"https:\/\/t.co\/kzRACcGk24\">pic.twitter.com\/kzRACcGk24<\/a><\/p>\n<p>\u2014 Casa Presidencial (@PresidenciaSV) <a href=\"https:\/\/twitter.com\/PresidenciaSV\/status\/1408244780753096705?ref_src=twsrc%5Etfw\">June 25, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Bukele said that <a href=\"https:\/\/u1f987.com\/en\/news\/el-salvadors-president-says-altcoins-will-not-compete-with-bitcoin-in-the-country\">El Salvador does not plan to adopt<\/a> any alternative Bitcoin cryptocurrency as legal tender.<\/p>\n<p>Earlier, the opposition <a href=\"https:\/\/u1f987.com\/en\/news\/salvadoran-opposition-declares-bitcoin-legalisation-unconstitutional\">called the legalization of digital gold unconstitutional<\/a>.<\/p>\n<p>The initiative also did not gain traction among local remittance services \u2014 only a few <a href=\"https:\/\/u1f987.com\/en\/news\/remittance-services-in-el-salvador-take-a-cautious-stance-on-bitcoin-support\">have integrated<\/a> Bitcoin support.<\/p>\n<p>According to JPMorgan analysts, the move threatens <a href=\"https:\/\/u1f987.com\/en\/news\/jpmorgan-analysts-question-bitcoins-benefits-for-el-salvadors-economy\">relations with <\/a><span data-descr=\"International Monetary Fund\" class=\"old_tooltip\"><a href=\"https:\/\/u1f987.com\/en\/news\/jpmorgan-analysts-question-bitcoins-benefits-for-el-salvadors-economy\">IMF<\/a>,<\/span> on which the Salvadoran economy depends for aid. A spokesperson for the fund, Jerry Rice, said that the legalization of cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/imf-sees-risks-in-salvadoran-bitcoin-payments-legalisation\">could entail a number of risks and regulatory issues<\/a>.<\/p>\n<p>Central American Bank for Economic Integration <a href=\"https:\/\/u1f987.com\/en\/news\/cabei-to-back-el-salvadors-bitcoin-push\">announced support for El Salvador<\/a> in the matter of implementing Bitcoin. The World Bank <a href=\"https:\/\/u1f987.com\/en\/news\/world-bank-declines-to-assist-el-salvador-with-bitcoin-rollout\">refused<\/a> to assist the country, citing environmental and transparency concerns.<\/p>\n<p>Subscribe to ForkLog News on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The president of El Salvador, Nayib Bukele, unveiled the cryptocurrency wallet Chivo. After registering in the app, every adult resident will receive $30 in Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":44955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1278],"class_list":["post-44954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-el-salvador"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44954"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44954\/revisions"}],"predecessor-version":[{"id":44956,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44954\/revisions\/44956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44955"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}