Why Bitcoin Works for Latin America

With the recent shift in El Salvador to legal tender for bitcoin, people are starting to take the cryptocurrency more seriously. One of the important considerations about President Nebbukkel’s incorporation of bitcoin into the country is the ability to resolve many of the issues unique to Latin American economies and markets, namely the issue of trust. While the usefulness of Bitcoin as a technology and investment tool is clear to market participants in the United States and other English-speaking economies, Bitcoin is of particular interest to the people of Latin America. This is due to many social, cultural and historical precedents, which are not necessarily shared or fully understood by those outside the area.

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