El Salvador will now use Bitcoin as their country's currency. This will be an interesting test to see how volatility in crypto will affect their wages. Bitcoin is also expensive to purchase and sell. I'm wondering if they are not able to have full use of their money from the fees of Bitcoin.
Businesses that will be affected for sure are companies like MoneyGram and Western Union that people use to transfer money around. These companies will not get as much business as before because people are using Crypto and other apps to move currency around as payments or send money to family members.
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