In a bid to extend Bitcoin services in El Salvador, Bitcoin has introduced a new platform to allow citizens to pay their bills using Bitcoins. Bitrefill is the platform that will enable El Salvadorans to transact funds to more than 150 businesses in the country.
A Directive by President Nayib Bukele
On September 7th this year, El Salvador’s government authorized Cryptocurrency as a monetary trade. Not only that, but the government has also recorded a margin of investment in the Crypto market. So much so that, recently, President Nayib stated that he would use some of the Crypto trading profits to build schools and a hospital in the country.
Some businesses in the country have since provided a platform for their Crypto customers. However, most companies are yet to embrace the concept due to a lack of the necessary technology for Crypto trading.
How Will Bitrefill Salvage the El Salvadorians?
In an announcement publicized at the country’s Bitcoin Conference, Bitrefill will allow the citizens to pay bills as one of the services offered. In like manner, citizens who live abroad can now pay their rent, water, electricity, internet, and phone bills using Bitrefill.
The lightning Network-enabled platform is a cheaper mode of transaction. Therefore, the El Salvadorians can bid ‘bye’ to high transaction rates of other monetary values. Ultimately life becomes easier for families depending on relatives living abroad. Additionally, the relatives living abroad can now loosen their strenuous budget plan a little bit.
Services Under Bitrefill in El Salvador
The Bitrefill launch will start by activating different services. The services are;
How to Use Bitrefill to Pay For Services
Bitcoiners in El Salvador can now transact funds on Bitrefill to pay. You need to have an active email address to acquire your transaction receipt, the voucher code, and the communication platform to your service provider.
A local PuntoXpress platform will be the facilitator of Bitrefill. The platform facilitates citizens to pay for essential services in addition to recharging phone airtime.
The Government’s Social Fund for Housing
Among the services mentioned above, the government will not be left behind. Citizens who loan from the Social Fund for Housing can then pay using Bitcoin. The government institution funds loans to citizens planning to purchase homes in the country.
The Bitcoin Week in El Salvador
The country has been celebrating the existence of Bitcoin currency provision in the country from Monday, November 15th. In this regard, El Salvador hosted the Adopting Bitcoin Conference, which has been a success.