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What can I buy with Bitcoin in El Salvador?

Added 12-04-21 02:04:04pm EST - “With the popularity of cryptocurrencies at an all-time high, countries such as France, the United States, Israel, and Slovenia are on the path to legitimise Bitcoin as a means of payment.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “What can I buy with Bitcoin in El Salvador?”. Below is an excerpt from the article.

With the popularity of cryptocurrencies at an all-time high, countries such as France, the United States, Israel, and Slovenia are on the path to legitimise Bitcoin as a means of payment.

El Salvador, on the other hand, went a step further by becoming the first government to recognise Bitcoin as legal cash tender. This means that Bitcoin can now be used for any transaction on a national level.

However, this begs the question – “What can I buy with Bitcoin in El Salvador?” We explore this question and understand what this decision means for El Salvador.

El Salvador has a long history with the United States of America. Receiving financial aid during from 1989 to 1999, it accounted for 60% of its exports from 2004. These and several other reasons like inflation necessitated the need for the country to shift its focus from its original legal tender – the Colon – to the Dollar.

Soon, the Dollar became more common and, over time, the Colon died out. And with the advent of the US legalising Bitcoin as a form of payment, El Salvador took a step in the same direction but only bigger.

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