Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

2025-05-17

Pi’s 4-week rally threatened what will decide if $ 0.30 is the next one

2025-05-17

Bitcoin’s $ 10,000 stairs: Map signals marching to $ 115,000

2025-05-17
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

    2025-05-17

    Pump.Fun loses dominance while new meme munt launch pads get up on Solana

    2025-05-17

    Deeplink works together with Marlin to secure AI gaming, secured

    2025-05-17

    Telegram closes ‘largest illegal online marketplace’ after the insights of Elliptic

    2025-05-17

    Google Cloud to improve security for crypto transactions and digital asset management with Inabit

    2025-05-17
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17

    Complating digital assets win the long game in Crypto

    2025-05-17

    US senators make potential progress on Stablecoin bill in the midst of partisan negotiations: report

    2025-05-16

    American chairman Jerome Powell warns of future inflation, says that the economy could introduce a period of more frequent supply shocks

    2025-05-16
  • Analysis

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17

    Current consolidation will not prevent XRP from growing

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»El Salvador’s Bitcoin Experiment Sees Slow Adoption But Crime Reduction
El Salvador’s Bitcoin experiment sees slow adoption, but crime reduction
Regulation

El Salvador’s Bitcoin Experiment Sees Slow Adoption But Crime Reduction

2023-07-19No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Two years after El Salvador adopted Bitcoin as legal tender, adoption remains low as citizens question the cryptocurrency’s benefits, according to former Ethereum core developer Lane Rettig.

In a recent talk at EthCC 2023, Rettig provided an update on the Bitcoin experiment in El Salvador that he first discussed in 2021. After visiting the country twice since the law was passed, Rettig found that Bitcoin adoption was lagging despite considerable promotion by the government.

Residents of El Salvador are not impressed with Bitcoin

“Very few of them use Bitcoin on a daily basis,” Rettig said, referring to the 4 million Salvadorans who downloaded the state-sponsored Chivo wallet for a $30 Bitcoin bonus.

Less than 2% of remittances flow through Bitcoin, according to Rettig, even after the government rolled out Chivo ATMs across the United States. Research also shows that the use of digital payments and Bitcoin in El Salvador is low and decreasing over time.

“Most people don’t feel like Bitcoin benefits them,” Rettig said, referring to a recent essay by a Salvador resident. “It is largely not an accepted medium of exchange in El Salvador, despite promotion from the government.”

Bitcoin adjacent improvements to El Salvador

However, Rettig stated that the Bitcoin law has significantly reduced crime, which he called a “huge improvement in quality of life.” Recent surveys show that more than 80% of Salvadorans believe that crime has fallen under Bukele’s rule. Citizens say they feel safer when they go out at night for the first time.

Bitcoin ATMs have increased dramatically from just two in 2021 to over 200 nationwide. El Salvador now offers coverage that rivals major world cities, with ATMs even in remote villages. The fees at these ATMs are negligible, according to Rettig’s experience.

See also  Early Bitcoin -Adopteur Roger far asks President Trump to save him from extradition after tax evasion.

Another positive development is that El Salvador recently passed a digital asset law to provide a legal framework for the creation of Bitcoin-based organizations. This has attracted crypto entrepreneurs to invest in mining and other business ventures in the country.

Concerns about human rights

However, concerns about democracy and human rights remain under the increasingly authoritarian regime of President Nayib Bukele. Bukele’s government reportedly bribed gangs and built one of the world’s largest prisons to curb violence, imprisoning nearly 2% of the adult population without due process.

Bukele also abolished presidential term limits, overriding the Supreme Court. Critics worry that he is sliding the country toward dictatorship while failing to deliver economic benefits to ordinary citizens through Bitcoin.

While optimistic about Bitcoin’s potential, Rettig stressed that more work is needed to build trust. “Convincing people to trust and use it again requires a lot of work to be done there,” he said. Rettig remains hopeful that El Salvador’s Bitcoin experiment will eventually empower people through financial inclusion.

Source link

Adoption Bitcoin crime experiment Reduction Salvadors Sees slow
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

2025-05-17

Bitcoin Options Market also signals upwards potential for BTC price: New ATH soon?

2025-05-17

A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

2025-05-17

Is a bitcoin -top income? What suggest these flashing indicators

2025-05-17
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Crypto CEO Very Optimistic About XRP Price, Sets Make-or-Break Point

2023-09-30

Singularity Finance Partners with particle network

2025-01-28

2024 report shows 96% of NFTs declared ‘dead’ amid market instability

2024-09-03
Editors Picks

US DOE stops investigation into energy use in crypto mines after lawsuit from Riot and Texas Blockchain Council: report

2024-02-26

Zilliqa Revolutionizes Blockchain Ecosystem With Ethereum Virtual Machine (EVM) Integration

2023-05-24

Is buying Bitcoin a good strategy now?

2023-12-31

Detates to stimulate AI-led marketing and web3 communication in collaboration with Vitaminai

2025-01-31

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

Pi’s 4-week rally threatened what will decide if $ 0.30 is the next one

Bitcoin’s $ 10,000 stairs: Map signals marching to $ 115,000

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,315.840.06%
  • ethereumEthereum(ETH)$2,479.32-0.73%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.360.55%
  • binancecoinBNB(BNB)$642.000.21%
  • solanaSolana(SOL)$166.830.08%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.216141-0.60%
  • cardanoCardano(ADA)$0.74-0.73%
  • tronTRON(TRX)$0.2721020.85%
  • suiSui(SUI)$3.770.81%
  • chainlinkChainlink(LINK)$15.37-0.44%
  • avalanche-2Avalanche(AVAX)$22.21-1.87%
  • stellarStellar(XLM)$0.286692-0.72%
  • hyperliquidHyperliquid(HYPE)$26.24-2.95%
  • shiba-inuShiba Inu(SHIB)$0.000014-0.11%
  • unus-sed-leoUNUS SED LEO(LEO)$8.75-2.14%
  • hedera-hashgraphHedera(HBAR)$0.191257-0.80%
  • bitcoin-cashBitcoin Cash(BCH)$395.600.33%
  • the-open-networkToncoin(TON)$3.070.93%
  • litecoinLitecoin(LTC)$96.64-2.38%
  • polkadotPolkadot(DOT)$4.61-1.22%
  • moneroMonero(XMR)$339.210.87%
  • bitget-tokenBitget Token(BGB)$4.970.45%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000012-1.73%
  • piPi(PI)$0.70-1.25%
  • ethena-usdeEthena USDe(USDE)$1.00-0.03%
  • bittensorBittensor(TAO)$421.260.12%
  • uniswapUniswap(UNI)$5.73-3.37%
  • aaveAave(AAVE)$221.74-1.87%
  • nearNEAR Protocol(NEAR)$2.69-2.09%
  • aptosAptos(APT)$5.06-1.55%
  • okbOKB(OKB)$53.230.44%
  • ondo-financeOndo(ONDO)$0.920.39%
  • kaspaKaspa(KAS)$0.109733-4.72%
  • ethereum-classicEthereum Classic(ETC)$18.13-1.35%
  • internet-computerInternet Computer(ICP)$5.16-0.28%
  • gatechain-tokenGateToken(GT)$21.630.26%
  • crypto-com-chainCronos(CRO)$0.097585-0.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.742.30%
  • mantleMantle(MNT)$0.73-0.95%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232026-0.04%
  • vechainVeChain(VET)$0.027766-0.75%
  • render-tokenRender(RENDER)$4.530.31%
  • usd1World Liberty Financial USD(USD1)$1.000.05%
  • ethenaEthena(ENA)$0.353999-9.30%
  • filecoinFilecoin(FIL)$2.79-0.81%
  • algorandAlgorand(ALGO)$0.215928-1.21%
  • cosmosCosmos(ATOM)$4.720.00%
  • bitcoinBitcoin(BTC)$103,315.840.06%
  • ethereumEthereum(ETH)$2,479.32-0.73%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.360.55%
  • binancecoinBNB(BNB)$642.000.21%
  • solanaSolana(SOL)$166.830.08%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.216141-0.60%
  • cardanoCardano(ADA)$0.74-0.73%
  • tronTRON(TRX)$0.2721020.85%
  • suiSui(SUI)$3.770.81%
  • chainlinkChainlink(LINK)$15.37-0.44%
  • avalanche-2Avalanche(AVAX)$22.21-1.87%
  • stellarStellar(XLM)$0.286692-0.72%
  • hyperliquidHyperliquid(HYPE)$26.24-2.95%
  • shiba-inuShiba Inu(SHIB)$0.000014-0.11%
  • unus-sed-leoUNUS SED LEO(LEO)$8.75-2.14%
  • hedera-hashgraphHedera(HBAR)$0.191257-0.80%
  • bitcoin-cashBitcoin Cash(BCH)$395.600.33%
  • the-open-networkToncoin(TON)$3.070.93%
  • litecoinLitecoin(LTC)$96.64-2.38%
  • polkadotPolkadot(DOT)$4.61-1.22%
  • moneroMonero(XMR)$339.210.87%
  • bitget-tokenBitget Token(BGB)$4.970.45%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000012-1.73%
  • piPi(PI)$0.70-1.25%
  • ethena-usdeEthena USDe(USDE)$1.00-0.03%
  • bittensorBittensor(TAO)$421.260.12%
  • uniswapUniswap(UNI)$5.73-3.37%
  • aaveAave(AAVE)$221.74-1.87%
  • nearNEAR Protocol(NEAR)$2.69-2.09%
  • aptosAptos(APT)$5.06-1.55%
  • okbOKB(OKB)$53.230.44%
  • ondo-financeOndo(ONDO)$0.920.39%
  • kaspaKaspa(KAS)$0.109733-4.72%
  • ethereum-classicEthereum Classic(ETC)$18.13-1.35%
  • internet-computerInternet Computer(ICP)$5.16-0.28%
  • gatechain-tokenGateToken(GT)$21.630.26%
  • crypto-com-chainCronos(CRO)$0.097585-0.78%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.742.30%
  • mantleMantle(MNT)$0.73-0.95%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232026-0.04%
  • vechainVeChain(VET)$0.027766-0.75%
  • render-tokenRender(RENDER)$4.530.31%
  • usd1World Liberty Financial USD(USD1)$1.000.05%
  • ethenaEthena(ENA)$0.353999-9.30%
  • filecoinFilecoin(FIL)$2.79-0.81%
  • algorandAlgorand(ALGO)$0.215928-1.21%
  • cosmosCosmos(ATOM)$4.720.00%