Everything seems to indicate that Honduras will be another of the countries allied to Bitcoin, which will soon seek to make this cryptocurrency
used regularly by its citizens. It is important to note that few countries agree with the use of BTC, not only by governments, but also by citizens who still do not trust the queen cryptocurrency of all. Perhaps this is because they do not know how easy it is to use Bitcoin. In El Salvador, for example, many citizens do not want to use BTC and the government rewards practically for using it, let's hope this does not happen in Honduras.
Honduras believes that Bitcoin will be a reserve currency
The Honduran government believes that Bitcoin will at some point be a cryptocurrency used as a world reserve. Therefore, it is possible that in a short time it will do the same as El Salvador did and allow Bitcoin to be legal tender in the country. Apparently, the Honduran government
don't want to be left behind and wants to be a pioneer among the main countries that choose to use this crypto to improve their economy and offer better solutions to their citizens. Also, the
Bitcoin value It seems to be constantly growing, therefore, it is possible that soon in Honduras they will begin to buy Bitcoin to have a reserve of this currency. After the years pass and Bitcoin increases its price exponentially, the countries that have this cryptocurrency will have large amounts of money in their reserves. To understand it better, countries that buy Bitcoin for the future today are buying the “new gold” in some way, but it is not yet being used in the way it is expected. By the time there is Bitcoin adoption,
its price will be much higher and the Bitcoin reserves of these countries will be much higher, making them richer. Undoubtedly, this offers more possibilities for underdeveloped countries to get out of poverty.
The steps that Honduras is taking towards a "bitcoinization"
Actually, Honduras does not take a "hurried step" in terms of the adoption of Bitcoin, as El Salvador does. For its part, in
Honduras are beginning to implement Bitcoin ATMs, these are the small steps that the country is taking so that Bitcoin can be used by its citizens, so far it has less than 10 BTC ATMs, so the government of this nation has not done much for Bitcoin to be used regularly in the country. So, there is no reason to be too happy about Honduras adopting Bitcoin, since the steps that Honduras is taking are very "shy" so to speak. things will change if
they start buying BTC to save it as a store of value for a long time.
El Salvador setting an example
Incredibly, one of the least expected countries that was the first to fully adopt Bitcoin is El Salvador. It is the only country that is
openly buying Bitcoin and it is protecting them for the future, in addition, its president, Bukele, created an app for Salvadorans to receive a bonus in BTC. Thanks to this app, Salvadorans can make Bitcoin payments for products and services. Without a doubt, El Salvador will be one of the few countries to emerge into a new financial and technological era thanks to its adoption of Bitcoin. Even if the price of cryptocurrency goes down, at some point
BTC will be priced high again and without a doubt, Salvadorans who save their BTCs will be able to enjoy the profits. On the other hand, when it comes to cryptocurrencies and Blockchain, this country can count on the best technology to improve the lives of citizens, providing fast and effective solutions.
When will cryptocurrencies be adopted?
Cryptocurrencies are not yet widely adopted, but their acceptance is increasing. The first step in the process of
cryptocurrency adoption It is a general recognition. Today, more and more people are aware of cryptocurrencies and understand the advantages of using them. A
cryptocurrency adoption will be influenced by five key factors:
- Technological advances.
- Legal and regulatory frameworks.
- Acceptance of technology.
- The cost of transactions.
- The impact of government policies.