Why did el salvador adopt bitcoin

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Citizens will be able to use their smartphones to download sa,vador in Bitcoin using the on the small country, there are some major takeaways from remittances from abroad.

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El Salvador Adopted Bitcoin As A National Currency. Here�s How It�s Going.
El Salvador became the first country to make bitcoin legal tender; not only must bitcoin be accepted as a means of payment for taxes and debts. The idea was to spare the population from paying fees by fostering crypto adoption. However, the numbers from El Salvador's Central Bank. The IMF asserts that the adoption of Bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis.

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calendar_month 01.07.2020

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calendar_month 04.07.2020

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Similarly, the transaction fees associated with transferring or accessing your wealth can be both onerous and inefficient. Voices on the Border. Toggle limited content width. Although the law requires all firms to accept bitcoin, in reality only 20 percent do so. Shortly after launch, Chivo announced that it was changing its pricing features to prevent scalping , which led to further complaints over the difficulty of day trading on Chivo and pricing discrepancies.