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Cryptoknowmics 2022-03-07 10:05:59

El Salvador Installs New BTC Wallet

Nayib Bukele, the president of El Salvador, announced on Twitter that a new Chivo Bitcoin ATM has been installed on Bitcoin Beach, where users will no longer be charged fees when withdrawing cash from their Chivo Wallets and will only be charged the bitcoin network fee when withdrawing money from any bitcoin wallet. The installation of this new wallet was necessitated by the many requests received from individuals who reside on Bitcoin Beach. Bitcoin Beach is a famous holiday destination situated in the little beach town of El Zonte in El Salvador, and many establishments in the area had already accepted bitcoin some years before it was established as Bitcoin Beach. El Salvador’s Commitment To Bitcoin With Chivo Wallets In September of last year, El Salvador became the first nation to recognize Bitcoin as legal cash, enabling customers to utilize the cryptocurrency in all of their financial transactions going forward. This action garnered a great deal of attention for the country, and the International Monetary Fund (IMF) pushed it to reconsider its decision. A campaign to encourage the usage of Bitcoin was launched in El Salvador, with hundreds of Chivo bitcoin ATMs being installed around the nation. As part of this initiative, Chivo placed 50 commission-free Chivo ATMs in 10 locations throughout the United States, making it cheaper and simpler for customers to transfer money to family and friends. In addition to allowing for...

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