07-09-2021, 11:25 AM
SEP 06, 2021
El Salvador will make history tomorrow by becoming the first country in the world to adopt Bitcoin as legal tender.
......
The pros of Bitcoin adoption in brief:
https://fintechmagazine.com/digital-paym...r-tomorrow
El Salvador will make history tomorrow by becoming the first country in the world to adopt Bitcoin as legal tender.
......
The pros of Bitcoin adoption in brief:
- El Salvador is already reliant on a first-world currency which is problematic in terms of lending and borrowing
- Being reliant on the US dollar hinders emerging economies
- Adopting Bitcoin could reduce the cost of remittances
- El Salvador could potentially increase its own reserves through the adoption of Bitcoin
- Using the cryptocurrency could increase foreign investment in El Salvador
https://fintechmagazine.com/digital-paym...r-tomorrow