Have you heard of Bitcoin before? If not, here’s a quick explanation. Bitcoin is a type of cryptocurrency, or digital currency that can only be accessed online. And unlike traditional currencies like the dollar or euro where exchanges happen through a bank, cryptocurrencies like Bitcoin happen directly between people. Although Bitcoin has been around since 2009, its legitimacy and popularity has only grown in the past few years. In fact, it’s become such a legitimate type of currency that El Salvador has become the first country to accept Bitcoin as legal tender, or a legal form of currency to pay for things, including tax payments! Although Bitcoin might be an official legal tender in El Salvador, it’s uncertain how many businesses will actually accept the cryptocurrency. What do you think? Will cryptocurrency become the dominant currency of the future? We’ll just have to wait and see!
June 25, 2021