El Salvador has become the first country to accept BTC as legal tender. In detail, the country is now allowing the use of crypto alongside the US dollar. Furthermore, the move is a push by El Salvador president Nayib Armando Bukele Ortez.
To begin with, El Salvador has experienced low levels of economic growth for years now. Accepting Bitcoin as legal tender in El Salvador is viewed as a move towards boosting the economy. Hence, all businesses in El Salvador have to accept BTC as legal tender for goods and services unless they lack the necessary technology to process the payment.
Additionally, a network of cash dispensers will allow users to convert BTC into dollars free of commission. This is backed by a $150 million government fund. Also, Salvadorans will receive US$30 in free Bitcoins when they sign up for its national digital wallet, known as ‘Chivo’. Thus, Real Research seeks to find out the public opinion on using Bitcoin as legal tender in El Salvador.
So, hurry and share your opinion with us by answering the survey on the Real Research App from September 10, 2021. After that, you will receive 10 PLF as a reward.
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