El Salvador Legalized Bitcoin

The Central American country of El Salvador has legalized the bitcoin.

El Salvador has become the first country which has legalized bitcoin. In June 2021 El Salvador passed a law to make the bitcoin a legal currency, effective September 7.

The government claims that the move will give many citizens access to banking services for the first time. It would save 400 million USD in remittance fees each year.

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Vice President said in a tweet that for the first time in history, the eyes of the world would be on El Salvador, and the bitcoin made it possible.

‘How can a poor person who has no money for food invest in bitcoin? He also promised to give 30 USD to every citizen who adopts a bitcoin.

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