Acceptance of Bitcoin (BTC) as a method for remittance payments to El Salvador 2021
one of the lowest income per capita in Latin America and the Caribbean in 2020. Crypto, according to the government, could make this process easier or cheaper.
Salvadorans who receive remittances from abroad either did not yet discuss the use of Bitcoin for this purpose or their relatives did not want to use it, according to a survey conducted in July 2021. From September 2021 onwards, El Salvador accepts the digital coin as a national currency alongside the U.S. dollar. One of the reasons for the government to do this is so the cryptocurrency could facilitate remittance payments from Salvadorans living abroad. This matters for the country's economy as El Salvador had