What do Salvadorans do with their $ 30 bitcoin gifts?

After bitcoin became legal tender in El Salvador, President Bukele sent people a gift of $ 30 bitcoin to promote its use.

However, what the Salvadorans do with their gifts is of great interest.

One of El Salvador’s largest newspapers tried to answer a question about what the Salvadorans did with their $ 30 bitcoin publications. And here are the 5 main uses that have been pointed out.

What do Salvadorans do with their $ 30 bitcoin gifts?

The government has tried to incentivize the use of BTC and increase interest in their Chivo crypto wallet and app by offering $ 30 BTC credit to new users.

ElSalvador.com, the website of the El Diario de Hoy newspaper, has identified five ways Salvadorans are trying to use their BTC coins right away in a new report.

30 USD bitcoin gift converted into fiat

If you want to convert your tokens into USD fiat, you have to take a detour. The government has blocked direct delivery recipients of “cash withdrawals” from Chivo BTC ATMs. However, YouTube users have posted a number of workarounds where users are essentially transferring their money to friends or family members. The recipient then responds by doing the same. This allows the user to “withdraw” the full $ 30 from the Chivo ATM.

$ 30 bitcoin gift on sale

The media reports that the Facebook marketplace is currently being flooded with people offering to “buy” $ 30 BTC handouts from citizens for $ 25 cash by paying via bank transfer or online payment platforms. The media added as a warning that those who go this route “should be careful as it can lead to scams” done by “malicious people”.

30 USD Bitcoin gift for shopping

“Supermarkets”, according to the media office, accept BTC payments with Chivo (as well as many other retailers and service providers in the country). Salvadorans used BTC on their weekly shopping trips “as long as the Chivo wallet system is up,” she added.

$ 30 bitcoin gifts will be transferred to other wallets that are more secure than Chivo wallets

The media company, which is skeptical of all things BTC, and chairman Nayib Bukele wrote that “some people do not trust the state-published Chivo app” and cited rights as the reason. As a result, some have opted for “safer and more decentralized wallet options” – even if it means paying commissions on withdrawals.

$ 30 bitcoin gift transferred to someone else’s bank account

Some have explored alternatives that allow them to assign a credit to their bank accounts. This uses a function of the Chivo app to credit another person’s USD bank account with BTC coins. The friend then transfers $ 30 to the other friend’s bank account. The media noted that “sometimes” the process is “not instant” but still “quae”.

So it can be seen that the Salvadorans still don’t seem to really want to understand and accept BTC. And so the widespread use of the currency in El Salvador will “last for many years. ”

And Bukele, who not long ago (jokingly) referred to himself as the “Dictator of El Salvador”, has now edited his Twitter profile to call himself the “greatest dictator in the world”.

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