WATCH: El Salvador's 'Bitcoin Beach' is looking to ride the cryptocurrency wave as bitcoin becomes legal tender in the Central American country
EL ZONTE, El Salvador, Sept 7 - In the El Salvadoran beach town of El Zonte, a surfing hotspot known as "Bitcoin Beach," tourists and some residents heralded the president's decision to make the Central American nation theMany businesses in the popular vacation site adopted bitcoin three years ago, after an anonymous donation of the digital currency kickstarted the Bitcoin Beach project.
Women buy at a store at El Zonte Beach in Chiltiupan, El Salvador June 10, 2021. Picture taken June 10, 2021. REUTERS/Jose CabezasBeyond the tourism-dependent economy of El Zonte, proponents of bitcoin's adoption say it will help Salvadorans save hundreds of million a year on commissions for remittances, while giving access to financial services to those with no bank account.
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