El Salvador has become the first country to adopt the cryptocurrency bitcoin. It gave legal recognition to bitcoin on 9 June. Now it can be used from September.
crypto bitcoin
Although many countries do not agree on the use of the cryptocurrency bitcoin, but it has been adopted legally in El Salvador. Now like other currency, it can also be used in transactions. This rule will come into effect from 7 September. However its use will be optional. It is known that this proposal of El Salvador President Nayib Bukele was approved in Parliament on 9 June.
Nayb Bukele said in a national address on Thursday that the recently passed law bitcoin legal tender will take effect on September. If someone receives a payment in bitcoin, they can automatically select it in dollars.” Bukele also said that salaries and pensions paid to state employees and those in the private sector will be paid by the US. Will continue to be in dollars only.
Athena to set up bitcoin ATM
According to bitcoin ATM installation firm Athena, they are planning to invest more than $1 million to install bitcoin cryptocurrency ATMs. You can easily withdraw the money received from. According to Athena Bitcoin’s website, ATMs can be used to buy bitcoins or sell them for cash.
office will be opened
El Salvador has become the first country to legally adopt bitcoin as a currency. The move will take effect in September. An office is expected to open in El Salvador to conduct bitcoin operations. Its responsibility has been entrusted to the firm Athena Bitcoin. Employees will be hired to expand the project. A year ago Athena installed its first cryptocurrency ATM on El Zonte beach in El Salvador, about 49 km (30 miles) southwest of the capital, San Salvador.
Testing will be done by installing a dozen ATMs
Mattias Goldenhorn, director of the Athena firm, said, “Initially we’re going to have a dozen ATM machines, we’ll test how the business model is in El Salvador, which will probably be different from the United States.”
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