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

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.

E9cBdUrWYAYky6D

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.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Gary Gensler Says Bitcoin is Actual Bitcoin

Gary Gensler Says Bitcoin is Actual

Gary Gensler, the new chairman of the Securities and Exchange Commission (SEC), confirmed the...

By wpadminsonic164
The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164
Plan B’s stock-to-flow bitcoin pricing mannequin is forecasting $ 100,000 by Christmas, S2F creators are discussing the time mannequin Bitcoin

Plan B’s stock-to-flow bitcoin pricing mannequin is forecasting $ 100,000 by Christmas, S2F creators are discussing the time mannequin

The pseudo-anonymous Bitcoin analyst named Plan B gave its 704,000 Twitter followers an update...

By wpadminsonic164
How do NFTs evaluate to Bitcoin? Bitcoin

How do NFTs evaluate to Bitcoin?

Check out this episode on YouTubeListen to this episode:This episode of "Bitcoin Bottom Line"...

By wpadminsonic164
Remembering Bitcoin Pioneer Hal Finney (Could 4, 1956 – August 28, 2014) Bitcoin

Remembering Bitcoin Pioneer Hal Finney (Could 4, 1956 – August 28, 2014)

Seven years ago today, legendary computer programmer and recipient of the very first Bitcoin...

By wpadminsonic164
Worldline, Bitcoin Suisse accomplice, to allow retailers to simply accept Bitcoin in Switzerland Bitcoin

Worldline, Bitcoin Suisse accomplice, to allow retailers to simply accept Bitcoin in Switzerland

The European payment and transaction service provider Worldline has teamed up with Bitcoin Suisse,...

By wpadminsonic164
Bitcoin worth breaks 50,000, bitcoiners put together for brand spanking new all-time highs Bitcoin

Bitcoin worth breaks 50,000, bitcoiners put together for brand spanking new all-time highs

At around midnight on Sunday, Bitcoin price broke $ 50,000, the highest price since...

By wpadminsonic164
Discovering Monetary Freedom In Afghanistan Bitcoin

Discovering Monetary Freedom In Afghanistan

Roya Mahboob — the first female Afghan tech CEO, one of TIME’s most influential...

By wpadminsonic164

Latest Posts

Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance Binance

Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance

The world's leading cryptocurrency exchange Binance seeks government funding despite being in the crosshairs...

By wpadminsonic164
Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information Stellar

Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information

Major cryptocurrencies have shown mixed trading so far, with Bitcoin reversing its losses by...

By wpadminsonic164
BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!! Videos

BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!

BITCOIN CRASH (important upload)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!...

By wpadminsonic164
Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
Dogecoin Elliott Wave Evaluation: Appears to be Transferring Down – FXStreet Dogecoin

Dogecoin Elliott Wave Evaluation: Appears to be Transferring Down – FXStreet

If the crypto market extends its decline today, we would likely have five waves...

By wpadminsonic164
Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report Ethereum

Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report

Ethereum's EIP-1559 upgrade burned $ 400 million in ETH instead of handing it over...

By wpadminsonic164
Gary Gensler Says Bitcoin is Actual Bitcoin

Gary Gensler Says Bitcoin is Actual

Gary Gensler, the new chairman of the Securities and Exchange Commission (SEC), confirmed the...

By wpadminsonic164
The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164