El Salvador: The country where you can buy anything with Bitcoin

Some businesses in the town say they have seen a 30% uptick in trade as Bitcoin Tourists, fuelled by crypto YouTuber channels, are attracted to the novelty of spending their digital coins on holiday.My travels led me to conclude that the further you move from Bitcoin Beach, the less likely you are to be able to buy things in the digital currency.

Cash is still very much king here, with more than half of Salvadoreans not owning a bank account, but President Bukele has poured $200m of public money into a subsidised Bitcoin wallet app, called Chivo.President Bukele announced plans to make Bitcoin legal tender appearing by video at a Bitcoin conference

But many people use the app for transactions in dollars, not Bitcoin. It's often used this way, for example, by people who work abroad and send money home to their families, as there are no commission or transfer fees.Another incentive to use it came into existence at the end of February, with the opening of the country's most advanced animal hospital.Large queues are common, with people and pets sheltering in lines under gazebos for their appointments.

She says the government doesn't have enough money to help vulnerable people, so shouldn't be taking risks by pouring public funds into cryptocurrency.President Bukele's Bitcoin purchases charted against the value of Bitcoin according to CoinMarketCap"We don't know exactly when or with what money they've bought bitcoins."

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto exchanges Coinbase and BlockFi lay off hundreds of staffEmployees hit by cryptocurrency crash as bitcoin price has plummeted in recent weeks btc bottom is $20,813 ! Time to buy 🚀
Source: Guardian Tech - 🏆 29. / 68 Read more »

Bitcoin: Why is the largest cryptocurrency crashing?The value of Bitcoin is at an 18-month low, as the cryptocurrency market continues to tumble. It's reverting to its real value: 0 Bitcoin What's happening to cryptocurrencies? That should be the question! The same as with the whole market. Everything is red. EVERYTHING.
Source: BBCTech - 🏆 81. / 55 Read more »

The crypto market is spectacularly collapsingMany major cryptocurrencies have fallen by up to a quarter of their value over the past day ✌️
Source: The Independent - 🏆 80. / 59 Read more »

Bitcoin tumble leaves the average buyer in the red\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT. Like with every other libertarian racket, almost everyone involved is a victim on a long enough time line. Yes but it's currently at a 'support' lets see if shorters reverse and buyers step in here.. If not 13k isn't too fat away UkraineRussianWar is Changing the world New World Order is emerging Dollar is under threat Who is winning the war. One thing is clear World is Changing Forever Dollar Ruble Yuan
Source: FT - 🏆 113. / 51 Read more »