Bitcoin Cash as LEGAL TENDER IN St Kitts and Nevis - FACTS to Highlight
Although ST KITTS AND NEVIS is a small country, the impact of making the Bitcoin Cash currency a LEGAL TENDER is of great importance in the Caribbean region and may even invite countries with larger populations like Haiti or even Cuba to look more into the possibility coming to accept Bitcoin Cash as a viable means of payment.
The country has a total population of almost 54,000 inhabitants and its economy is based on the production of sugar cane. Tourism is also part of the domestic bulk of foreign exchange earnings and its national currency is the Caribbean dollar.
The Caribbean region is home to more than 25 countries and has a total population of 44 million inhabitants, which could be the big market for the adoption of Bitcoin Cash if ST KITTS and NEVIS make Bitcoin Cash a Legal means of payment in March 2023.
Unlike El Salvador or even the Central African Republic that also accept Bitcoin Core (BTC) as a Legal means of transactions, St Kitts and Nevis may be the first nation in the Modern world to accept DECENTRALIZED DIGITAL MONEY that actually works for everyday transactions of lower cost fees.
Not only, if the country in March 2023 Legalize Bitcoin Cash will also be the first nation worldwide to create a movement that started in the population and led the government to make it Legal, that is, St Kitts and Nevis will become the 1st the nation that created a market where merchants, vendors and the general public traded using Bitcoin Cash, sparking the interest of the government who also decided to participate in the currency's decentralized economy.
At the last Bitcoin Cash Conference that took place in St Kitts on 12/13 November, the Prime Minister Terrance Drew's report, could be seen that the executive was surrendered to the adoption of Bitcoin Cash in the territory. It is impossible to ignore the growth that the currency has achieved in a short time and the amount of people and millionaire investments that Bitcoin Cash can still bring to the territory.
Another aspect is that St Kitts and Nevis has the highest per capita cryptocurrency adoption in the world.
Which means that in ST KITTS and NEVIS there is a greater number of people who earn money or live off Bitcoin Cash, as well as how much they produce. This helps to assess the way and quality of life of the population living in the vicinity of ST KITTS and NEVIS.
The country is a cryptocurrency HUB and welcoming to entrepreneurs who decide to invest using the currency, making it easier for them to make the territory their second home through projects such as CITIZENSHIP BY INVESTMENT.
Some time ago a Member of Parliament Rolando Brison from ST Maarten became the first politician in the world to ask the country's offices to convert his entire salary into Bitcoin Cash paving the way for the legalization of the currency in St Maarten.
Another no less important fact is that Roger Ver is a citizen of St Kitts and Nevis and he is a great driver of the use of Bitcoin Cash as a peer to peer electronic money. Roger Ver is the founder of Bitcoin.com, early Bitcoin supporter, investor etc, whose main goal is to show the world that Bitcoin Cash serves as unstoppable money for the world.
In the last conference it could be observed that ST KITTS and NEVIS has more than 200 merchants and 4 ATMs that boost the use of Bitcoin Cash for payments and services. It is possible to pay for a meal, taxi, hotel stay and much more JUST using Bitcoin Cash.
Therefore, although St Kitts and Nevis is a country that does not have a greater expression in the world, the fact that it can Legalize Bitcoin Cash is a great milestone in the history of Bitcoin Cash and cryptocurrencies.
It is a milestone because it makes the country the only one to accept Bitcoin Cash, which is low-fee decentralized digital money, fast in making payments and that does not need confirmation to be used immediately.
It is also a gateway to the Caribbean world once legalization becomes effective more countries can follow suit and join Bitcoin Cash's decentralized economy. However, there are also challenges, since there is already a digital central currency that is being implemented, which began to be developed in 2019 by the central bank.
Reports on social media also place Antigua as a place where Bitcoin Cash has a lot of clout with merchants accepting it in exchange for their products and services they offer.
St Kitts and Nevis are an example of a nation that is not running away from modern reality, they want to participate in the crypto world and with Bitcoin Cash as a LEGAL TENDER they are saying loudly that they welcome the idea of decentralized digital money that works for the people, the revolution that left the streets to be welcomed by the government executive.
The Bitcoin Cash revolution has arrived in St Kitts and Nevis!
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