Photo: Getty
El Salvador wants to save its economy with Bitcoin
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This initiative, among other things, aims to increase consumption and reduce remittance costs for millions of residents who work abroad.
El Salvador’s authorities have promised to give residents $ 30 in bitcoins. Massive use of cryptocurrency. in their opinion, it will help attract investment to the country, writes Bloomberg.
The initiative also aims to increase consumption and reduce remittance costs for millions of residents who work abroad.
To receive an asset, you need to open an account in the national bitcoin wallet Chivo. Buyers will be able to pay with bitcoins for goods, prices for which are indicated in dollars.
The problem for the republic was the position of the World Bank, which refused to assist in the spread of bitcoin.
The International Monetary Fund, in turn, faced “macroeconomic, financial and legal problems” in connection with the transition of El Salvador to bitcoin.
Previously, the rating agency Fitch disclosed other the dangers of legalizing bitcoin as a means of payment in El Salvador.
Recall that Ukraine is also preparing to legalize cryptocurrencies and operations associated with them.
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