Central America hoped bitcoin would attract tourists. It hasn’t worked.
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El Salvador is trying to become a bitcoin hub to attract tourism and reduce its poverty rate. Last year, the country became the first to adopt bitcoin as a legal tender, despite pushback from residents. Experts say a potential solution is to work on financial literacy, teaching locals how to manage e-wallets, mobile payments and most importantly, creating public awareness of the risks of cryptocurrency. In Honduras, a bitcoin ATMs are installed around the country, including La Bitconeira, a business that is installing bitcoin ATM in La Ceiba. Guatemala and Honduras are replicating the same idea by creating a cryptocurrency hub in tourist areas. The World Travel & Tourism Council says tourism made up about 6 percent of El Salvador’s gross domestic product in 2021 Source