DeCrypting Crypto

El Salvador to make Bitcoin Legal Tender?

Another revelation emerged during the Bitcoin 2021 conference in Miami from Nayib Bukele, the president of the Central American nation.

The president suggest that 70% of El Salvador’s population does not have a bank account which is a massive possible usage of a digital currency. The country has been marred by corruption and moving to such a currency could help stabalise the country.

There are many ways this could help the country but other than being one of the first which could create jobs it could also bring big benefits to a country that relies on money being sent from family members working abroad as the low fees of moving crypto would see the people bypass the punishing fees associated with moving money through banks.

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