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❕NEWS El Salvador Government Discusses Using Bitcoin For Salaries Payments

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El-Salvador is serious determined to be among top countries with full bitcoin implementation in their activities.
The recent move is to use bitcoin in payment of salaries as El Salvador's Minister of Labor is in discussion with Social Welfare Rolando Castro, the Ministry of Economy and the Ministry of Finance on how the process can be carried out conviniently.
El-Salvador already is the first country to adopt the cryptocurrency as legal tender and also will accept tax contributions payments in bitcoin. Goods and Services can be priced in bitcoin with dollars as a reference currency.
 
El-Salvador is serious determined to be among top countries with full bitcoin implementation in their activities.
The recent move is to use bitcoin in payment of salaries as El Salvador's Minister of Labor is in discussion with Social Welfare Rolando Castro, the Ministry of Economy and the Ministry of Finance on how the process can be carried out conviniently.
El-Salvador already is the first country to adopt the cryptocurrency as legal tender and also will accept tax contributions payments in bitcoin. Goods and Services can be priced in bitcoin with dollars as a reference currency.
Before jumping on bitcoin as salary payments, there should be adequate enlightening of the people about Cryptocurrencies and the fluctuations. Ignorance can bring losses when funds are in bitcoin.
 
Before jumping on bitcoin as salary payments, there should be adequate enlightening of the people about Cryptocurrencies and the fluctuations. Ignorance can bring losses when funds are in bitcoin.
For sure , that's the essence of the discussion on going between the relevant agencies that is on going, they will take all these into consideration.
 
Truly the fluctuations has to be taken into the consideration so that it will favour the users and the computation of tax assessment must be in alignment with the fluctuations of the coins.
 
I'm still not sure about this move just yet, considering that bitcoin is still highly volatile, and a small change in price affects it alot, personally I won't accept my salaries in the form of bitcoin
 
For sure , that's the essence of the discussion on going between the relevant agencies that is on going, they will take all these into consideration.
I hope everything comes out right and in favour of the bitcoin adoption. Bodies such as IMF are still observing though shown its concerns on the effect of such a decision on the country's economy.
 
I hope everything comes out right and in favour of the bitcoin adoption. Bodies such as IMF are still observing though shown its concerns on the effect of such a decision on the country's economy.
Wow!!! What is IMF as regards El-Salvador's cryptocurrencies adoption?
UNICEF adopt the use of cryptocurrency for while. Let hope other adopt it.
 
There will definitely be an awareness campaign on all these and it has to be gradual don't be surprised that it may take 10 years for them to get it reasonably right.
 
El-Salvador is serious determined to be among top countries with full bitcoin implementation in their activities.
The recent move is to use bitcoin in payment of salaries as El Salvador's Minister of Labor is in discussion with Social Welfare Rolando Castro, the Ministry of Economy and the Ministry of Finance on how the process can be carried out conviniently.
El-Salvador already is the first country to adopt the cryptocurrency as legal tender and also will accept tax contributions payments in bitcoin. Goods and Services can be priced in bitcoin with dollars as a reference currency.
This is goodnews and we hope that it will turn out well for the country. International monetary fund are against the idea.
 
This is goodnews and we hope that it will turn out well for the country. International monetary fund are against the idea.
I believe with time the IMF will resolve the differences with the country and probably encourage more countries to key into bitcoin as legal tender.
 
That's great. It is one step forward to the future of crypto. Through El Salvador's people now already adopt bitcoin to their daily life. They have both options to complete their daily transactions. I think, getting salaries in crypto will help many peoples to hold them for the future.
 
I'm still not sure about this move just yet, considering that bitcoin is still highly volatile, and a small change in price affects it alot, personally I won't accept my salaries in the form of bitcoin
They used to strike and bitcoin beach to their main wallet. Both companies get help from govt. to runs the business. So, I think they do not face large fees to transaction fees and most of the peoples used bitcoin for the small transaction and the large transaction is still done by cash.
 
This is a very good move , i think the president have done a lot of job in improving crypto currency in the country , i hope they dont see a reason to quit , but push for more useage
 
That's awesome.. well some people might not like it specially those who have no idea about how crypto works. But if they do. Imagine getting paid and it can double as the time goes
 
They used to strike and bitcoin beach to their main wallet. Both companies get help from govt. to runs the business. So, I think they do not face large fees to transaction fees and most of the peoples used bitcoin for the small transaction and the large transaction is still done by cash.
Using bitcoin eith small transactions especially when its fees are going up is not really advisable, though the fees could be negated if they are using the lightning network for the transaction
 
That's awesome.. well some people might not like it specially those who have no idea about how crypto works. But if they do. Imagine getting paid and it can double as the time goes
Well i think some people also dont like any deduction in their salary and vice versa ,so it works for some but i am sure crypto lovers wont bother about flunctuation
 
Well i think some people also dont like any deduction in their salary and vice versa ,so it works for some but i am sure crypto lovers wont bother about flunctuation
Yeah I think so too, as with cryptocurrency lovers who are always wanting to hodl bitcoin or any other coins , getting cryptocurrency for their salaries is already convenient for them
 
Having cryptocurrency as salary is not bad idea because you can conviniently convert it to stable coin if you can't take the risk of holding for rise
 
El-Salvador is serious determined to be among top countries with full bitcoin implementation in their activities.
The recent move is to use bitcoin in payment of salaries as El Salvador's Minister of Labor is in discussion with Social Welfare Rolando Castro, the Ministry of Economy and the Ministry of Finance on how the process can be carried out conviniently.
El-Salvador already is the first country to adopt the cryptocurrency as legal tender and also will accept tax contributions payments in bitcoin. Goods and Services can be priced in bitcoin with dollars as a reference currency.
This truly is a bold move but I am not sure if this is a smart plan. The people are not prepared, not educated and there is still shitload of volatility in the coins
 
This truly is a bold move but I am not sure if this is a smart plan. The people are not prepared, not educated and there is still shitload of volatility in the coins
They will be gradually sensitized and they will key into it, no doubt they will face challenges in the beginning but for sure they will cross the hurdles.
 

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