Bitcoin will become legal tender in El Salvador alongside the U.S. dollar in seven days. The Salvadoran government has released a video explaining what to expect when the Bitcoin Law enters into force. The video features the government’s fee-free crypto wallet, Chivo.
Government’s Video Explaining What to Expect When Bitcoin Becomes Legal Tender
The Bitcoin Law in El Salvador will come into effect on Sept. 7 when BTC will become legal tender alongside the U.S. dollar. Salvadoran President Nayib Bukele tweeted a video explaining what to expect, including the benefits of using the government’s official crypto wallet, Chivo.
A partir del 7 de septiembre 🇸🇻#Bitcoin @chivowallet pic.twitter.com/HNiHWdY3x1
— Nayib Bukele 🇸🇻 (@nayibbukele) August 30, 2021
According to a translation of the video content posted on Twitter, “Starting September, bitcoin will be legal tender in our country alongside the U.S. dollar,” the video begins. It further details:
Using bitcoin is not mandatory. You will have the option of paying and collecting in bitcoin or dollars. All cash transactions, prices, salaries and pensions will continue to be in dollars.
“You will have the option to use the government’s wallet for free to make transactions in bitcoin or in dollars at any time of day and without fees. You can also use any other wallet to make your transactions,” the video continues.
“With our wallet, you will receive a bitcoin bonus worth $30 USD for you to spend. You will have the option to pay in dollars or bitcoin from your mobile without the need to handle money or sign vouchers. Also, those who collect from you will not need to handle money, a card, or be charged any fees. You will have
