The president of Salvador Nayib Bukele announced on Jun 06 of 2021, that he wants his country to be the first economy in the world to use Bitcoin as legal currency besides the local currency which is the US dollar. However, he will need the congress approval to make it, and it should be no problems since he has 56 of the 84 members of the El Salvador congress.
Many countries if not all countries around the world are already using Bitcoin and hundreds of other cryptocurrencies, but their governments are always trying to regulate them, or they don’t want their citizens to use cryptocurrencies, so the news in this case is that the president of a country wants to fully legalize the use of Bitcoins… but why?
Perhaps he has a lot of Bitcoins, and he bought when the price was at $60,000, and he lost a lot of money since the Bitcoin is now at $33,000, and he is trying to pump up the price which is going to happen if the congress approves his bill.
The primary reason of why he wants to do it is because he states that more than half of the population of his country do not have a bank account, an e-wallet and not even a PayPal account, meaning that most of the transactions of the country are done in cash using USD.
If everything works and Bitcoin is fully legalized it would have a positive impact on the Latin American country, since it is going to boost the tourism, foreign inversions, and many Bitcoin holders will visit the country too.
It will not be a surprise if the price of Bitcoin rises a little when president Bukele announce his success since we have seen in the past how a single person can have a gigantic impact on the prices for example we have Elon Musk who can almost manipulate the crypto-market at his will with just one single twit message.
Hopefully everything will be ok and Salvadorians can have access to all exchange & crypto-markets without being scared that they are doing something illegal, and they can join the big Bitcoin community and why not? They can also join the iGaming community since they will have now a way to place bets on local online casinos and international online casinos.
If you are reading this, and you are in El Salvador or any other country we would like to introduce you to some online casinos that are worth checking out such as BitStarz and 7BitCasino which are rising stars on the gambling community.
BitStarz online casino offers many bonuses and promotions that not only Salvadorians can take advantage of them because the casino accepts players from many regions too. BitStarz has received lots of awards and certificates, and it holds a gaming license granted by the government of Curaçao.
In this casino you can place bets on many games including slot games, classic casino games such as Blackjack, Roulette, Baccarat, Super Sic Bo and other table games and even live dealer games and of course the casino takes Bitcoins as a banking option and even offers dedicated games for Bitcoin users, and they take other banking options such as Interac online, Visa, Mastercard, Skrill, Neteller, paysafecard and other options and if you ever need with anything on this casino you can contact their support team via live chat.
You can always go directly to BitStarz Casino through here.
7BitCasino is another rising star in the online gambling community since it offers tons of incentives, bonuses, promotions and even a VIP Program if you join them.
7BitCasino also offers tons of slot games, table games like Roulette, Baccarat, Blackjack, live dealer games, Bitcoin games and other kinds of games that can satisfy even the pickiest player.
The casino accepts many banking options including Visa, Skrill, Neteller, paysafecard, iDebit, Bitcoins and many more options plus the website can be displayed in several languages including French, Russian, Italian, German and other languages, and it also has a gambling license granted by the government of Curaçao which means that you will be playing on a safe and fun environment which is always nice to know.
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