EI Salvador will be giving out $30 in bitcoin to every adult citizen who downloads a specific app and become verified on it.
EI Salvador president Nayib Bukele made the announcement during a national address on Thursday per the report. The president said adult citizens who download Chivo-e-wallet and go through the facial recognition process would each receive $30 in bitcoin.
EI Salvador’s Bitcoin law is expected to make crypto a legal tender within the nation. It will to come into effect from Sept 7. El Salvador approved its bitcoin bill stating cryptocurrency will become legal tender in the country.
Also Read: El Salvador President Got Support Of CABEI Towards Bitcoin Law
The population of El Salvador is 6.5 million, where 70% is over the age of 15. Adult likely makes up around 60% of the population. Thus, by providing bitcoin to every adult citizen, El Salvador wishes for them to start using bitcoin for transactions
In a conference, the president Nayib Bukele states, “Wallet app will even work anywhere with a cell connection and you won’t have to have a cell plan for the app.”
