The adoption of Bitcoin (BTC) in the tropical country is spreading at a rapid pace.

Contact us to be instantly informed about the last minute developments. Twitter and Telegram You can follow our channel.

In a live speech on Friday, President Nayib Bukele announced that El Salvador will give every adult citizen $30 worth of Bitcoin. Bukele introduced a Bitcoin wallet called “Chivo” (a slang term for “cool” in Spanish) that works on both Android and iOS devices.

Salvadorans will be able to claim the gift at registration. During registration they will be asked to provide their DUI (Salvador ID) and phone number. Bukele believes this will help promote the use of cryptocurrencies. The president offered a step-by-step guide on how to use the app on national television.

Citizens will be able to instantly convert Bitcoin to US dollars within the app. Chivo won’t use any data, meaning citizens won’t need a cellular internet plan:

“You don’t need to have a cell plan for the Wallet app. Users of the application will make payments and send money with the help of QR codes. It will also be possible to buy and sell the largest cryptocurrency.”

As previously reported, the landmark bill was passed unanimously on 9 June. Chivo app will be available on Google Play and App Store in September.