Every person who is living in El Salvador has been gifted $30 in Bitcoin. They can use it for shopping or paying their taxes. El Salvador has officially adopted Bitcoin as its currency and legal tender. Shops, institutions and companies are forced by law to accept Bitcoins. Panama is literally just a few legal steps away from doing the same. But why?

Nayib Bukele, El Salvador’s president, is hoping that Bitcoin will solve the country’s economic problems. This might work because Bitcoin makes transactions and sending money to El Salvador from outside easier, cheaper and banks do not have to be involved. Which is very important because 70% of the people in El Salvador do not have a bank account.

But Bitcoin is not easy to use for everybody and people started to protest against it, while others could not be happier about the new currency. It seems like there are more and more problems occurring. For example people are losing money while trying to withdraw cash from the digital wallet Chivo. According to the president, Chivo has been downloaded by three million people and in September it had 2.1 million active users.