President of El Salvador: Bitcoin legislation is supported by 200 ATMs and 50 branches

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The President of El Salvador, Nayib Bukele, announced on Sunday via Twitter that 200 ATMs and 50 personal kiosks will be built to mark the 7th President Bukele also stated that the government is buying and selling Bitcoin in El Salvador over their new Chivo app will facilitate without charging a commission.

Bukele’s Twitter thread suggested many ways El Salvadorans can benefit from the easy onboarding in Bitcoin that the government had promised, such as:

Perhaps the greatest benefit for the citizen using Chivo is the ability to send and receive transfers with no additional fees. Bukele noted, “Our city pays $ 400 MILLION a year in commissions on transfers.” Bitcoin could effectively reduce that number to zero.

The Chivo app in El Salvador, which sells Bitcoin commission-free, comes shortly after Jack Mallers’ Strike enabled the virtually callous purchase and withdrawal of Bitcoin.

Bukele tweeted: “A Salvadoran overseas can send money IMMEDIATELY to his relative in El Salvador. You can send yourself #bitcoin (if you want) or you can send yourself DOLLAR if you want. “

The president pointed out the other relative advantage of business owners and citizens who choose to download the app to receive payments and gifts in Bitcoin from fellow citizens and tourists and expand their business to include an instructed, fee-free money transfer from anywhere in Germany to support the world.

Bukele also stressed that, despite some misunderstandings, the Bitcoin rollout is an individual choice for each citizen and that the ability to withdraw the government-issued $ 30 in dollars through many 24/7 ATMs across the country , is facilitated.

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Alongside the announcements, there has been a significant backlash from Bukele against critics of the Bitcoin Introducing Act and critics of the Salvadoran government in general.

“As soon as people see the benefits, they will be left liars and they will lose double,” he wrote.

Screenshot 2021-08-23 at 6/8/58

He reiterated that Bitcoin is beneficial to anyone who receives a transfer, but is still an individual’s choice: “If you don’t want to, you can always queue up at Western Union and pay commission. There is no problem.”

Bukele tweeted, “Another benefit will be that companies will be able to receive payments in #Bitcoin from tourists and investors.

Tourism professionals can also receive tips in this currency.

You can keep the #Bitcoin or automatically convert it to DOLLAR without incurring any costs. “

Screenshot 2021-08-23 at 08/31/50

The answer to his “opposition” was straightforward: “Some will prefer to believe the thieving opponents that they have done nothing but plunder our country, destroy it and pay to kill our people.

Others will choose to believe the government. ”

President Bukele also said the Chivo app will be released on Jan.


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