Skip to main content

Free Bitcoin: El Salvador Giving Away $30 in BTC to Everyone Using Government Wallet

Free Bitcoin: El Salvador Giving Away $30 in BTC to Everyone Using Government Wallet

El Salvador President Nayib Bukele has announced a bitcoin giveaway to promote the cryptocurrency’s use as legal tender in the economy and to give people an incentive to use the government’s official wallet application.

$30 in Free Bitcoin

The president of El Salvador, Nayib Bukele, addressed many topics regarding his country’s new bitcoin law Thursday night. During his speech, he unveiled the Salvadoran government’s wallet app and a signup bonus of $30 in bitcoin.

“The wallet of the government of El Salvador is called Chivo,” Bukele explained, adding that users must register with their phone number and national ID known as the DUI.

Accounts are then verified by either facial recognition or through the call center. “Facial recognition or verification by call center will only be done when creating the account. We do it this way to give security to the population,” the president explained.

Bukele further revealed:

It will be within the Chivo app where we will deposit the equivalent $30 in bitcoin to promote its use in the economy and to give people an incentive to use the application.

With the $30 incentive in bitcoin, he said, “We want the population to make use of this system and bitcoin as legal tender” to boost the economy and “help the economic growth of the country.”

To obtain a DUI (Documento Único de Identidad), which is needed for account verification, one must be at least 18 years old. This means out of El Salvador’s total population of 6.5 million based on Woldometer’s data, only adults ages 18 and older qualify to receive the $30 BTC freebie.

The Salvadoran president further detailed that the Chivo app will allow users to convert funds between dollars to bitcoin, make payments, and send money using a QR code. In addition, he said app users can buy BTC “securely, instantly and without charging fees.”

He emphasized that using, receiving, and investing in bitcoin in El Salvador is optional, noting that the $30 BTC bonus will be the only time recipients must accept the cryptocurrency. For spending, users can choose to use either bitcoin or dollars if they have both currencies in their wallets.

El Salvador’s bitcoin law will enter into force on Sept. 7, Bukele noted. “We will guarantee that all cash transactions will remain in dollars,” he clarified.

What do you think about El Salvador giving away $30 in bitcoin to all users of the government crypto wallet? Let us know in the comments section below.



from Bitcoin News https://ift.tt/2U0C7OG
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more