El Salvador’s authorities have announced that they will distribute $ 30 to the citizens of the country for the Chivo wallet. However, the wallet developed by El Salvador’s IT department will not be required to use.
Yesterday, June 29, President of Salvador Nayib Bukele wrote on Twitter that the Chivo wallet will not be required to use.
Developed by the El Salvadorian authorities, the wallet allows you to store bitcoins and also works with US dollars. But, as the President of the country emphasized, the citizens of El Salvador can choose any other wallet for bitcoin.
Bukele also noted that the citizens of El Salvador should not be afraid about the privacy of their data – all the data that is required when registering a Chivo wallet, and so the country’s regulators already have.
Chivo Wallet will not charge additional transaction fees. Users will only pay for the execution of a transaction on the blockchain. In addition, the exchange of bitcoin for the US dollar will also be carried out without commissions.
Recall that the El Salvadorian authorities plan to distribute $ 30 in bitcoins to all citizens of the country over 15 years old. The total amount of distributed funds will be 3,440 BTC ($ 117 million). Bitcoin will become legal tender in El Salvador from September 7th.
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