Salvadoran Bitcoin usage dropped to 12% in 2023.

Janak9955

A survey indicates that in 2023, 12% of the local population in El Salvador has used Bitcoin at least once for paying goods and services. This is a significant decrease compared to 2022 when a report from the same university stated that 24.4% of Salvadorans had engaged in Bitcoin transactions. With Bitcoin becoming legal tender, the number of respondents experiencing an improvement in their family life increased from 3% in 2022 to 6.8% in 2023. While this suggests a positive correlation, it's noteworthy that the majority of respondents (93.2%) did not attribute any improvements in their lives to the use of Bitcoin. In contrast to the positive correlation between Bitcoin adoption and personal well-being, the survey reveals a disconnect between the use of cryptocurrency and perceptions of El Salvador's overall economic conditions. Only 0.5% of respondents believe that Bitcoin plays a role in improving the national economy. Instead, over a third of respondents (34.3%) attribute perceived economic improvements to a decrease in crime rates (24.3%).

Shri333

Your opinions and recommendations are still very excellent.

Shri

The decrease in this is still very significant.