FILE PHOTO: A barber works at Sevilla Barber Shop where Bitcoin is accepted as a payment method, in Santa Tecla, El Salvador September 6, 2021. REUTERS/Jose Cabezas
SAN SALVADOR (Reuters) - El Salvador on Tuesday rolled out cryptocurrency bitcoin as legal tender, an unprecedented move that faced some technical hiccups on its first day and left many wondering how it will work.
President Nayib Bukele, who has championed the initiative, said the digital currency will be optional in the poor, dollarized country but that using it will eliminate commissions Salvadorans abroad pay to send home remittances.
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