If you are reading this, you already know that El Salvador has become the 1st country to adopt BTC as a legal tender. 70% of its citizens don’t have a bank account and are financially excluded from everything. So, it is up to the government to help them. In order to make this happen, El Salvador is giving away $30 in Bitcoin to any citizen who installs the wallet app. This move is surely going to get a lot of people on board.
Bitcoin adoption in El Salvador
The president of the country also announced that the wallet app would work anywhere with a cell phone connection. And the best part is you don’t even need a cell plan for the same. So, basically, anyone can use it without having to spend a single penny (or should I say satoshi) in any way. The president knows what’s best for the country, and he is trying his level best to implement that. There is still a lot of scepticism regarding this decision, but we need to know that dollar is still a legal tender there. And if someone wants, they can still use it.
People are happy
The best reply that I saw on Twitter was a person calling this airdrop for countries. Well, in a way, it is. For those who don’t know, an airdrop is free crypto given away by new platforms to get popular and create a user base. On the other hand, many say that they will prefer the $30 in BTC over the stimulus checks given by the US. The entire reason for this campaign was to make people happy and move them to Bitcoin.
For any user base, it won’t be easy to just move into BTC with the kind of volatility it brings. But with such incentives, the chances of that happening do increase.
What are your thoughts on El Salvador is giving away $30 in Bitcoin to boost adoption? And do you think this method will really work? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.