On April 11th, the distinction of being the first fully licensed recipient was bestowed upon bitfinex. Their official announcement on that day can be found here . Presently, El Salvador boasts an impressive 11 fully licensed Digital Assets Service Providers, operating in accordance with the Digital Assets Law. Undoubtedly, the nation's success continues to soar 🇸🇻.


Source

It's a remarkable development, Binance emerges as the pioneering fully licensed Bitcoin and cryptocurrency exchange within the borders of El Salvador

I don't see the news as a good one. Middlemen focus on making profit and they can do anything legal or sometimes illegal to attain their goals. El Salvador doesn't need centralized exchanges to succeed. These intermediaries cannot be trusted because we have seen many of them fall due to the recklessness and mismanagement of their owners or management. I expect El Salvador to use Bitcoin traditionally. I don't know the tailor-made services Binance intends to introduce to the country. I am watching with keen attention.

To me I believe that binance entrance into El Salvador as the first official exchange to get licensed in El Salvador is a good move such that will promote Bitcoin adoption and eas of accesibilty to bitcoin for El Salvadorians who may be novice and want to own the first bitcoin.

There os no doubt the fact that this so called middle men or third-party companies are the same service that provide Bitcoin scabilities despite the fact that their operations are geared towards provides maximizing and over control and that is something that is prominent with centralized services.

But with this,  I think El Salvador citizens will have multiple windows to buy Bitcoin and using other exchange features such as trading which provides additional income if you know how to manage the risk that comes with it.

Binance have taken the right step by extending their services to El Salvador as the first exchange in the region even with the whole uncertainty that pause it ugly head as anti Bitcoin in El Salvador.

As the first country to legalize Bitcoin, Salvador is becoming an important country on Earth. The neighboring country of Salvador, Costa Rica, is going to start ferries for commercial purposes. This will make Costa Rica's trade with Salvador even stronger. Not only for commercial interests but also for the reduction of Salvador's sea time limit with Costa Rica from 96 hours to 18 hours.





See video: https://twitter.com/nayibbukele/status/1689993917716946945?t=vpRXvgGOzlRCMXSdyxf7CQ&s=19

Let's dive a bit off-topic and discuss a relative topic as regards to El Salvador's fiscal policy, GDP growth and general economic conditions of the country in the current regime headed by Nayib Bukele,  indeed El Salvador have become more tactical in their economic approach since the adoption of Bitcoin and this have sounded as a wake-up call for the Government to work on strengthening the internal reserve and also increased GDP to sustain a stable economic growth agender which bitcoin is one of the tools to achieving that in the long term base and this also has helped to promote the social economic activities and other micro-economic activities within the country which reflection os what we are seeing in the country's reserve and increased GDP.

A growth of 1.8% in GDP in the short term is a remarkable fit, and if that is sustained in the long terms base it will amount to a significant increase in the GDP and then El Salvador will become self-sufficient and that will aid faster economic growth for the country.

One thing for sure in the El Salvador case is that, shortly,  most of the countries that kicked against El Salvador/ President Nyib Bukele in the beginning lf will end up regretting not taking a similar approach on ti. e because El Salvador's Bitcoin adoption will not only help the country to settle its financial indebtedness but Bitcoin will also become the sole reason why El Salvador will want to pay the price to be self-sufficient both in production and financial stability

Here's the idealogy from how i sensed it, having an exchange is not something that's bad, i see it as an avenue that will help the people with the use of bitcoin, also make an exchange of it to fiat where necessary for them to transact business locally, some as well might be interested in trading and also in the use of an exchange in getting the bitcoin current market price, which may serve as a reference for them to engage making bitcoin transactions and knowing the precise market rate accurately, there are other opportunities we may see with having an exchanges which Binance may bring to the El-Savadorans like job opportunities and capacity development, this does not stop the people fro having their personal bitcoin wallet aside the one used on an exchange, some can make use of cold storages like electrum wallet, hardware wallet or even make use of bitcoincore software client to run a full node, everything for the success of bitcoin adoption in El-Savador.

El Salvador President Nayib Bukele scared off Wall Street by embracing Bitcoin. Two years later, the bond rally he’s overseeing is proving too lucrative to resist https://t.co/KMcR6SciVq



Source: https://www.bloomberg.com/news/articles/2023-08-15/bitcoin-touting-bukele-s-bond-rally-draws-jpmorgan-eaton-vance?utm_source=website&utm_medium=share&utm_campaign=copy

Courage based on the ability to read opportunities and be willing to involve experts to perfect the plan before it becomes action. That is the figure of the president of El Salvador.
The story of Nayib Bukele in all things together with bitcoin that has been created and is being created to organize the economy of the country he leads, deserves to be documented into a big screen film to be shown in theaters.

Approximately the title of the film, Young Leaders who are underestimated because of the great desire to achieve progress.
Or am I overdoing it.

El Salvador’s Bitcoiners teach 12-year-olds how to send sats

Over 25,000 students in El Salvador have learned about Bitcoin in the classroom.
El Salvadorian school kids as young as 12 years old are being orange-pilled — taught to send their first BTC.
Bitcoin Beach community leader Roman Martínez told Cointelegraph that he believes early-age education on Bitcoin, money and the economy may lay out a framework for many of the underprivileged kids he teaches to have a better shot at life.

Martínez explained Bitcoin Beach runs after-school programs to help set kids up to use Bitcoin.
~~~
“If they know English, have computer skills, know about Bitcoin and know about marketing, they can work remotely for anyone around the world,” he explained. “This is a big door that is open now for everyone.”

In my opinion, a great initiative is to teach even small children a little to pay sats, for example, for a pie in a school cafeteria or for a candy.