⚡ Salvadorans Show Limited Use of Bitcoin
posted 17 Jan 2024
In El Salvador, only 12% of the population reportedly used Bitcoin for payments of goods and services in the past year, marking a 12.4% decline from the 2022 statistics. This information comes from a study conducted by the Central American University José Simeón Cañas, based on face-to-face interviews with 1,280 people.
The study also reveals that the frequency of Bitcoin usage among Salvadorans is remarkably low. Of those who used the cryptocurrency, 50% executed just 1-3 transactions, while only 20% engaged in more than 10 transactions. The most common uses of Bitcoin included buying food, various supermarket items, and paying for veterinary services.
Furthermore, only 0.5% of the respondents believe that Bitcoin has had a beneficial effect on El Salvador’s economy. Notably, this year's survey did not question people's opinions on the government's decision to invest in Bitcoin, which was previously opposed by 77.1% of those surveyed.
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