El Salvador National Bitcoin Wallet

The President of El Salvador, Nayib Bukele, has announced Chivo, the country’s official Bitcoin wallet, which will allow Salvadorians to hold both BTC and USD balances as a mobile app. The government will also give a $30 bonus in bitcoin for those who download and register for Chivo after it launches in September.

El Salvador will give this bitcoin bonus for two reasons, according to the announcement.

“First, to promote the use of bitcoin in the economy,” Bukele said. “Second, so that the people have an incentive to use the application and download it, and in this way start the system … so that you can go to a local store and everyone will have bitcoin, because everyone will have the same incentive to have downloaded the app.”

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