This is the world’s first bitcoin country
Cryptocurrency is a concept that many have been fascinated by for many years, but that does not mean that it has been as easy to use the currency you buy. At least not in the same way as you are used to using coins, banknotes and debit cards in regular stores.
There are, of course, a few examples of where it has been possible to use cryptocurrency as an actual means of payment. A good example of this is at online casinos, but the selection of accepted cryptocurrencies has not been unlimited here either.
Recently, however, the news came that Bitcoin has been equated with the US dollar as the official currency – in one specific country. It’s an interesting development that we do not think any of us so come at this time.
In this article, we will get a little better acquainted with the world’s first bitcoin country.
What is bitcoin?
Bitcoin is a form of cryptocurrency. Cryptocurrency is a digital currency. The world’s largest cryptocurrency, well and good. Bitcoin was launched for the first time in 2009, but it would be a few years before the world opened its eyes to this means of payment. It is Satoshi Nakamoto who has been credited with inventing Bitcoin, but we do not really know anything more than that. In fact, we do not even know if it’s a real person we’re dealing with here.
Bitcoin is considered the world’s largest cryptocurrency, as it is largest in several areas, including market value. The cryptocurrency has a market value of around $ 899 million.
The world’s first bitcoin country
The world’s first bitcoin country. It’s a pretty interesting title, and as I said not a development that we saw coming at the moment. But it has done so. The country that has the honor of being able to call itself the world’s first bitcoin country is El Salvador. El Salvador is a republic located in Central America.
So if you are traveling to El Salvador these days, then you can pay with bitcoin if you want to buy yourself a bottle of water while walking the water’s edge.
However, it is wise to keep in mind that this is a change that happened very quickly, and which is therefore implemented in different ways. The procedure may vary slightly depending on where in El Salvador you travel to.
The reactions have not been long in coming
However, not everyone is equally enthusiastic about this development. The introduction of Bitcoin as the official currency of El Salvador has led to reactions from various parts of the world, and they have not necessarily been of the positive kind.
Bitcoin is associated with great risk, which is why many have opposed this introduction. However, this is not an issue that we will go into more detail in this article.
This will take time
The world is waiting in excitement for what will be El Salvador’s next move. But there is no doubt that this is a process that will take time no matter what turns out to be the next step.