09.12.2021

El Salvador launches its official Bitcoin wallet on September 7

President Nayib Bukele tweeted Sunday that the Chivo wallet will be available for download on September 7th. Using a digital wallet is optional, but those who download it will receive $ 30 in bitcoins during the installation process in their wallet balance.

According to the President of El Salvador, the government-backed bitcoin wallet will launch early next month.

Bukele has repeatedly said that any use of the Chivo wallet is optional. Citizens of the country will not have to participate in digital commerce, but for those who are interested in it, wallets will allow payments in bitcoins or dollars between individuals and businesses.

In addition, the president noted that tourism workers will be able to receive tips in bitcoins precisely through the infrastructure of El Salvador’s digital wallet.

The Chivo wallet will allow citizens to automatically convert Bitcoin transactions into dollars. Bitcoins can also be cashed out at 200 ATMs in El Salvador. Cajeros Chivo devices will work for withdrawals, 50 Puntos Chivos machines will perform operations with deposits and withdrawals, at the same time acting as training centers for working with cryptocurrency.

The launch of the Chivo wallet will coincide with the entry into force of El Salvador’s Bitcoin law, which was passed in June this year. And although the country’s bet on bitcoin has sparked excitement in the crypto community, the country’s leader is facing a lot of criticism from international financial institutions.

Bitcoin use will be voluntary

Last week, the Ministry of Finance of El Salvador said that the legalization of bitcoin does not mean that the use of cryptocurrency will have to be compulsory. Each citizen of the country will decide for himself whether he should keep BTC or use it as a payment instrument.

Now the President of El Salvador Naib Bukele has confirmed the position of the authorities and announced that no one will force people to switch to cryptocurrency. Note that it was Bukele who initiated the infamous bill on the legalization of bitcoin, adopted in early June.

The head of state addressed citizens through social networks and stressed that they themselves should evaluate the benefits of recognizing BTC as a full-fledged payment instrument.

Bukele criticized those journalists and ordinary Salvadorans who spread rumors about the forced introduction of bitcoin. The president called them all “liars.”

He also announced that more than two hundred bitcoin ATMs will serve cryptocurrency holders in El Salvador. With the help of these devices, it will be possible to replenish crypto wallets, convert BTC into fiat money and perform other operations.

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