Free Bitcoin: El Salvador offers $30 of Bitcoin to boost uptake | Business and Economy News

El Salvador’s president Nayib Bukele offered $30 worth of Bitcoin to any citizen who signs up for a digital wallet.

El Salvador President Nayib Bukele doubled down on the country’s new law making Bitcoin legal tender and offered $30 worth of the cryptocurrency to any citizen who signs up for a digital wallet.

The government will create its own Bitcoin wallet called Chivo, which is slang for “cool” in El Salvador, Bukele said during a national address on Thursday night. The funds will be deposited into the account of any citizen who downloads it and registers as a user with their phone number and ID number, he said.

The law making Bitcoin legal tender will enter into force on Sept. 7, he said.

Bukele, 39, reiterated his arguments that using the cryptocurrency will help attract investment, boost consumption and cut the cost of sending remittances for millions of Salvadorans working abroad. But bank accounts in dollars will remain in dollars, and…

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