From September 7, El Salvador allows you to make payments using bitcoin. The government has offered citizens a special promotional campaign.
Every citizen of El Salvador has been given a virtual wallet with the equivalent of $30 in bitcoin. This is a promotional campaign to encourage the use of virtual currency, which has become an official, acceptable form of payment in the country since September 7. To this end, President Nayib Bukele announced the purchase of another 200 bitcoins. In total, the administration already has 400 of them.
Some citizens of El Salvador quickly realized that accepting payments in bitcoins can be as risky as it is convenient. One taxi driver quoted by CNN noted that his income could become unpredictable. At the time of accepting the payment, the bitcoin rate may, for example, be much higher than after a few days. Experts point out that the move by the El Salvador authorities is extremely reckless, especially considering the weakness of the national economy.
In addition to the possibility of paying with bitcoin in all stores and service points, residents of El Salvador will also be able to pay taxes using the most popular cryptocurrency.