The first country with Bitcoin as an official currency


Nayib Armando Bukele Ortez, president of El Salvador since June 1st of 2019, will go down in history as the first president to convert Bitcoin as an official currency, the first time this has happened with a decentralized cryptocurrency or digital currency.


For its implementation, Salvadorans must use the Chivo Wallet, developed by the government of El Salvador for the use of Bitcoin and the Dollar, two of its official currencies (the third is the Salvadoran Colón). Chivo Wallet allows, among other things, to send and receive Bitcoin and / or Dollar without commission between Salvadorans, as well as its exchange between users without commission using the two mentioned currencies. In addition, from the beginning there is a network of ATMs that will process Bitcoin purchases and sale transactions throughout the country.


It should be noted that the government of Nayib Bukele is the first to mine Bitcoin on a state basis and make use of renewable energy. 

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Author 2021-07-03