Country switches to bitcoin

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The TOP Countries With ZERO CRYPTO TAXES
El Salvador became the first country to accept Bitcoin as legal tender. Now it's offering citizenship for a $1 million 'investment'. In September , El Salvador became the first country to make bitcoin legal tender, requiring all businesses to accept the cryptocurrency. The use of bitcoin in El Salvador appears to be low amid the market volatility. The country faces plummeting economic growth and a high deficit.

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The country also has a massive deficit � with no plans to reduce it, whether through tax hikes or by substantially cutting spending. Also Read: 3 times crypto exchanges accidentally sent millions of dollars to wrong address. Washington Post. For El Salvador though, a small, powerful elite juxtaposed against a mass of disenfranchised people struggling to survive is the story of the country at any point in its history. Protocol � The people, power and politics of tech.