El Salvador National Bitcoin Wallet

El Salvador’s president, Nayib Bukele, has announce Chivo, the country’s official Bitcoin wallet, which will allow Salvadorans to carry BTC and USD balances as a mobile app. The government will also give a reward of $30 in bitcoin to those who download and sign up for Chivo after its launch in September.

According to the announcement, El Salvador will award this bitcoin reward for two reasons.

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

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