Exploring Bitcoin: The El Salvador Experiment

Question 1

When did El Salvador officially adopt Bitcoin as legal tender?

Accepted Answer

September 2021

Answer

January 2020

Answer

June 2022

Answer

March 2023

Question 2

What percentage of the population in El Salvador is estimated to be unbanked?

Accepted Answer

70%

Answer

30%

Answer

50%

Answer

90%

Question 3

What is the name of the digital wallet promoted by the Salvadoran government for Bitcoin transactions?

Accepted Answer

Chivo

Answer

Bitcoinos

Answer

E-Cash

Answer

CryptoWallet

Question 4

Which challenge has been criticized regarding Bitcoin’s use in El Salvador?

Accepted Answer

Environmental concerns

Answer

High transaction fees

Answer

Lack of internet access

Answer

Over-regulation

Question 5

What was one of the objectives for adopting Bitcoin as legal tender in El Salvador?

Accepted Answer

Reduce remittance costs

Answer

Increase tax revenue

Answer

Eliminate national currency

Answer

Promote foreign tourism