How Can Bitcoin Become Legal Tender?

CoinMarketCap published this video item, entitled “How Can Bitcoin Become Legal Tender?” – below is their description.

Late last year, El Salvador made Bitcoin legal tender. And in April this year, so did the Central African Republic.

On today’s CoinMarketCap episode, we are exploring why other countries might start using Bitcoin this way, how a Bitcoin Legal tender works and which country might be the next to follow El Salvador’s lead.

00:29 – What is a legal tender?

01:15 – Bitcoin vs Fiat Currencies: What’s the Difference?

02:50 – How Did Bitcoin Become Legal Tender in El Salvador?

05:01 – How Does the Central African Republic Implement Bitcoin?

06:30 – Could Other Countries Follow El Salvador and the Central African Republic?

06:52 – Panama

07:44 – Cuba

09:20 – Ukraine

10:43 – Could Any Large Economy Adopt Bitcoin as Legal Tender?

12:19 – Obstacles to Bitcoin Becoming Legal Tender

🔔 From crypto news, to market moves, and to educational how to videos.

CoinMarketCap YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.


About This Source - CoinMarketCap

CoinMarketCap is a web service that provides aggregated cryptocurrency market data. It has been owned by Binance since April 2020.

Recent from CoinMarketCap:

How to safely short the crypto market 1

How to Safely Short the Crypto Market

5 Ways Projects Can Strengthen Their Communities During A Bear Market

What Are Falling and Rising Wedge Patterns?

In This Story: Bitcoin

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. Bitcoin was the first decentralized cryptocurrency.

4 Recent Items: Bitcoin

Crypto, stablecoins, payment systems, and regulation: Circle CEO weighs in from Davos

Stock market today: Dow, S&P 500 hit record highs as tech stocks soar | January 19, 2024

Bitcoin’s post-ETF drawdown continues, testing support at $40,000: CNBC Crypto World

How Bitcoin lost by winning

In This Story: Central African Republic

The Central African Republic, or Centrafrique, is a landlocked country in Central Africa.

It is bordered by Chad to the north, Sudan to the northeast, South Sudan to the southeast, the Democratic Republic of the Congo to the south, the Republic of the Congo to the southwest and Cameroon to the west. The CAR covers a land area of about 620,000 square kilometres (240,000 sq mi) and had an estimated population of around 4.7 million as of 2018.

As of 2020, the CAR is the scene of a civil war, ongoing since 2012.

2 Recent Items: Central African Republic

Secretary General/Iran, Gaza, Security Council & other topics – Daily Press Briefing (3 Jan 2024)

Security Council, Gaza, Yemen & other topics – Daily Press Briefing (20 Dec 2023)

In This Story: El Salvador

El Salvador, officially the Republic of El Salvador (Spanish: República de El Salvador, literally “Republic of The Saviour”), is a country in Central America. El Salvador’s capital and largest city is San Salvador.

The colón, the currency of El Salvador since 1892, was replaced by the United States dollar in 2001.

2 Recent Items: El Salvador

Do El Salvador’s mega prisons work? #itvnews #elsalvador #crime

World’s First Bitcoin Bonds Receive Regulatory Approval in El Salvador

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.