Nayib Bukele, the president of El Salvador, announced on Twitter that a new Chivo Bitcoin ATM has been installed on Bitcoin Beach, where users will no longer be charged fees when withdrawing cash from their Chivo Wallets and will only be charged the bitcoin network fee when withdrawing money from any bitcoin wallet.

The installation of this new wallet was necessitated by the many requests received from individuals who reside on Bitcoin Beach.

[embed]https://twitter.com/nayibbukele/status/1500293282756190209?t=WoFnb5d2Mi2TWNFvKcgHhA&amp;s=08[/embed]

Bitcoin Beach is a famous holiday destination situated in the little beach town of El Zonte in El Salvador, and many establishments in the area had already accepted bitcoin some years before it was established as Bitcoin Beach.
<h2><strong>El Salvador's Commitment To Bitcoin With Chivo Wallets</strong></h2>
In September of last year, El Salvador became the first nation to recognize Bitcoin as legal cash, enabling customers to utilize the cryptocurrency in all of their financial transactions going forward. This action garnered a great deal of attention for the country, and the International Monetary Fund (IMF) pushed it to reconsider its decision.

A campaign to encourage the usage of Bitcoin was launched in El Salvador, with hundreds of Chivo bitcoin ATMs being installed around the nation. As part of this initiative, Chivo placed 50 commission-free Chivo ATMs in 10 locations throughout the United States, making it cheaper and simpler for customers to transfer money to family and friends. In addition to allowing for bitcoin buy and sell transactions, the ATMs also allow for zero-commission transactions, which are a cost-effective method to send money over the border.

El Salvador presently has 1,120 bitcoins in its treasury, and millions of Salvadorans use the Chivo app.

El Salvador Installs New BTC Wallet

After many requests received from individuals who reside on Bitcoin Beach, El Salvador installs a new Chivo BTC wallet on the famous holiday destination

Kay is a content specialist who has a particular interest in the finance and cryptocurrency industries, among others. He is a frequent contributor to a number of finance and cryptocurrency-related websites, where he offers readers with informative and educational articles on the cryptocurrency and financial markets. Aside from that, he is an avid supporter of blockchain technology.

El Salvador Installs New BTC Wallet

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