El Salvador Becomes First Country to Accept Bitcoin As Legal Tender

El Salvador has become the first country in the world to accept bitcoin as an official currency.

In a government-supported move, El Salvadorians will be able to download the government’s new digital wallet app, which will give $30 of BTC to any citizen that signs up. All business owners will also be made to accept Bitcoin as a payment form, wherever it is possible to do so.

This news follows El Salvador’s removal of capital gains taxes for cryptocurrency purchases earlier this year, and the general overall acceptance of bitcoin as a currency worldwide. As cryptocurrencies become a more reputable and respected medium of tender, only time will tell rather other countries will follow in El Salvador’s footsteps.

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