El Salvador officially made Bitcoin a legal tender currency on Tuesday, September 7, the first country to do so. This move comes into effect three months after its parliament passed the vote.

The big advantage Bitcoin will have for these economies is that they will not have any debt to pay to anyone. It also means that these countries will offer excellent opportunities for the adoption of cryptocurrencies and for crypto startups. This will eventually boost taxation and can become a growth point for this country.

Check It Out: Bitcoin Becomes Legal Tender in El Salvador Today

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