Nayib Bukele makes some clarifications about Bitcoin adoption in El Salvador

You can read the thread here (in spanish): https://twitter.com/nayibbukele/status/1409584377915269120

I'll try to summarise it below:

- The government bitcoin wallet (Chivo wallet) is a thing but any wallet will obviously work.

- When using Chivo, they'll require some KYC data to protect the bitcoins of the user

- Everything will be free of charge (paying, receiving and converting BTC to USD or USD to BTC).

- They'll give 30$ in BTC to all users but those BTC will have to be spent and couldn't be converted to USD as it's not about giving money to their population but about giving an incentive to use BTC.

- There will be 200 PoS in the country to deposit/withdraw USD on the app.

​

For now at least they're taking good decisions (this could have been a shitshow), let's hope they continue in this direction :)



Submitted June 29, 2021 at 01:16PM by __short_your_euros__ https://ift.tt/2TfasJy

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