El Salvador Becomes First Nation To Use Bitcoin As Legal Tender
El Salvador made history last week when it became the first nation to authorize the use of bitcoin as legal tender. The country’s residents will now be able to pay taxes and other debts with cryptocurrency. Businesses nationwide will also be able to accept cryptocurrency as a form of payment. The Central American country has already begun installing bitcoin ATMs. According to a Forbes report, $20 million in bitcoin purchases were made in the first day alone. El Salvador, which only has about 6.5 million residents, also launched an official bitcoin wallet – called “Chivo” or “cool.” The nation’...