• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, July 19, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

President Bukele has reduces the gas price for CHIVO wallet users

by Baisakhi Mishra
October 1, 2021
in Crypto, News
Reading Time: 2 mins read
0
President Bukele has reduces the gas price for CHIVO wallet users

Image Source: Coin News

TwitterWhatsappLinkedin

El Salvador is stepping up its efforts to promote Bitcoin use. El Salvador will provide people discount on fuel payments. This is to ensure that Citizens will be more inclined to utilize Bitcoin as a medium of exchange

You might also like

Inside SpaceX Starbase’s Worker Injury Surge

Microsoft Shuts Down Movies & TV Store on Xbox and Windows

Apple Sues YouTuber Jon Prosser Over iOS 26 Leak

Chivo has worked with a number of gas companies to help wallet users save money on gas. Gas stations in El Salvador will begin selling each gallon of fuel at a $0.20 discount to those who pay using the Bitcoin Chivo wallet, according to President Bukele.  Citizens will be more inclined to utilize Bitcoin as a medium of exchange as a result of this.

President Bukele Reduces Gas Price For Chivo Bitcoin Wallet Users In El Salvador
Image Source: Yahoo

Chivo collaborates with major gas companies

El Salvador’s President, Nayib Bukele, revealed the new perk on Twitter yesterday. The revelation was part of a larger thread about the country’s efforts to lower fuel prices.

Salvadorans, public transportation, and any local company can use Chivo to get the gas benefit starting on Thursday, September 30. The gas benefits, according to the announcement posters, are valid until at least October 14th.

For a year, the government will absorb any further increases in fuel prices on overseas markets. According to Bukele, this will lower gas prices for individuals and small companies in the country while also strengthening the economy.

Chivo wallet, on the other hand, will help to down gas prices. The business will make petrol $0.20 cheaper per gallon for users of its wallet thanks to a collaboration with the country’s major gas stations. According to the president, this will help to offset several rises in international fuel costs.

The advantage is all-encompassing, and it applies to El Salvador’s public transportation, entrepreneurs, people, and enterprises. Bukele believes that this will bring additional direct help to El Salvadorans while also lowering supply chain transportation expenses.

Another step in the direction of Bitcoin adoption

The Chivo collaboration also provides a financial incentive for citizens to transact in Bitcoin, but it is not explicitly acknowledged by the president. Many in El Salvador have opposed the passage of the country’s legal tender law since it was passed in June.

Despite citizen, media, and banker opposition, Bukele has been steadfast in his efforts to standardize Bitcoin across the country. When the Chivo wallet was first released, he gave citizens $30 worth of Bitcoin as a free inducement to utilize it.

Furthermore, it looks like the government is stockpiling Bitcoin at every opportunity. It just bought another 150 Bitcoins last week, bringing its total Bitcoin holdings to at least 700.

If you find this article informative then do share it with your friends and family! Also, leave your comments down below.

Also Read: Dogecoin co-founder wants the Ethereum bridge to happen

Tags: #ChivobitcoinEl SalvadorNayib Bukele
Tweet54SendShare15
Previous Post

How to create copies of Word documents on Mac with ONLYOFFICE

Next Post

23 year old IITian and BharatPe Co- Founder: Youngest Self Made individual as per Hurun India Rich List 2021

Baisakhi Mishra

Recommended For You

Inside SpaceX Starbase’s Worker Injury Surge

by Anochie Esther
July 19, 2025
0
Starbase

SpaceX’s Starbase facility in Texas is the nerve center of one of the most ambitious aerospace projects in history the development of the Starship rocket, a fully reusable...

Read more

Microsoft Shuts Down Movies & TV Store on Xbox and Windows

by Anochie Esther
July 19, 2025
0
Microsoft

In a move that has caught many users off guard, Microsoft has officially shut down its Movies & TV store on Xbox consoles and Windows PCs. As of...

Read more

Apple Sues YouTuber Jon Prosser Over iOS 26 Leak

by Anochie Esther
July 19, 2025
0
iOS 26

Apple has launched a federal lawsuit against well-known tech YouTuber Jon Prosser, accusing him of participating in a scheme to illegally access confidential features of iOS 26, months...

Read more
Next Post
23 year old IITian and BharatPe Co- Founder: Youngest Self Made individual as per Hurun India Rich List 2021

23 year old IITian and BharatPe Co- Founder: Youngest Self Made individual as per Hurun India Rich List 2021

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?