Ten Myths About Bitcoin In El Salvador

El Salvador’s adoption of bitcoin as legal tender received a tremendous amount of international media attention. This attention has been a welcomed change from ten years of Bitcoin obituaries and claims of Ponzi schemes and the like. Even so, there are myths out there about El Salvador’s momentous new law that deserve busting.

Myth one: The citizens of El Salvador are not sophisticated enough to use Bitcoin.

This is complete rot. The wallet that the government commissioned to handle trading crashed in the first hours of its launch not because it was broken; but because it became too popular too fast for the app stores to keep up.