El Salvador Will Give Discount to Users Paying Fuel with Bitcoin

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Users of the state-owned cryptocurrency wallet Chivo will be given a discount on fuel when paying in Bitcoin in El Salvador, the country’s president Nayib Bukele said.

“State-owned Chivo has held talks with the largest fuel companies in the country so that starting tomorrow [Oct 1], their gas stations will sell every gallon of gasoline for $0.20 cheaper through our crypto wallet.”

According to him, this measure “removes several increases in world fuel prices.” He added:

“The benefit has no restrictions and can be used by public transport, entrepreneurs, as well as any company or individual. It will also reduce transport costs in supply chains.”

Some users expressed their doubts about the benefits of such a step for society saying that “20 cents will go from all of us, right? Gas stations will not lose, they will be reimbursed from taxes paid, including those who walk.”

Some have suggested this is an attempt to get people to use an application that still malfunctions.