On Sept. 7, 2021, El Salvador will become the first country to make bitcoin legal tender.
The government even went a step further in promoting the cryptocurrency’s use by giving US$30 in free bitcoins to citizens who sign up for its national digital wallet, known as “Chivo,” or “cool” in English. Foreigners who invest three bitcoins in the country – currently about $140,000 – will be granted residency.
Panama is considering following El Salvador’s lead. Continue reading “Bitcoin will soon be ‘legal tender’ in El Salvador – here’s what that means”
