The 45-year-old shopkeeper told AFP that the bitcoin experience was great. (Our sales) have increased. It has taken us to another level of business. The capital of El Salvador has a large number of shopkeepers who say they accept bitcoin.
How positive the government of El Salvador is about cryptocurrencies is shown by the fact that the government has created a digital wallet named Chivo. With its help, users can pay with both bitcoin and US dollars. Bitcoin is a legal tender in El Salvador since September 2021. However, the price of bitcoin in India was Rs 30 lakh till 12:40 pm on January 28.
E-Wallet Training
In the capital of El Salvador, on crowded streets, in restaurants, at hardware stores, in pharmacies and even street vendors accept payments in cryptocurrency. Elizabeth, 25, works at a computer store in an old building. She teaches the customers to navigate the Chivo Wallet so that customers can make payments using the wallet. Elizabeth said that we train customers on how to use the wallet. Once they learn to use it, they buy something from us in return.
However, not everyone is a part of this crowd. Banana seller Antonio Molina said that I do not benefit from this. I only work in dollars and do not accept bitcoins.
great risk
On Tuesday, the International Monetary Fund (IMF) urged El Salvador not to use bitcoin as a legal tender. The IMF board warned that there are huge risks to using bitcoin. However, President Bukule did not take it seriously. President Bukule’s government has purchased 1630 bitcoins from public funds since coming to power in June 2019.
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