$BTC: What Life Is Like for Foreigners Who Have Moved to Bitcoin Beach

  • El Zonte is a village in El Salvador that has a population of about 3,000 people.
  • El Zonte is popular for surfing and fishing.
  • In 2019, an anonymous donor in the U.S. reportedly began sending Bitcoin to nonprofits in the area with the aim of finding ways to build a sustainable cryptocurrency ecosystem in the community.
  • Then nonprofit workers in El Zonte, in consultation with the donor, launched Bitcoin Beach, an initiative that injected the cryptocurrency into the local economy, set people up with digital wallets, and helped businesses set up systems to accept Bitcoin payments.
  • Residents use a Venmo-like app payment system for exchanging Bitcoin, which was developed by a tech company in California called Galoy Money.
  • El Zonte has attracted a new wave of affluent young foreigners interested in cryptoassets.
El Salvador Beach $BTC: What Life Is Like for Foreigners Who Have Moved to Bitcoin Beach
$BTC: What Life Is Like for Foreigners Who Have Moved to Bitcoin Beach 2

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