This village in El Salvador offers a glimpse into the crypto economy

Residents of the small beach community of El Zonte are making everyday purchases with bitcoin – but not everyone is buying into the dream.

About 500 families in El Zonte use bitcoin to buy groceries and pay utilities – something the El Salvadorean government envisions for the country at large. AP

Marcos Aleman

Jun 18, 2021 – 10.04am

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After El Salvador’s congress made bitcoin legal tender this month, eyes are turning to the rural fishing village of El Zonte on the Pacific coast. Known to surfers for its pounding waves, El Zonte has had the cryptocurrency in its economy for the past year.

So when construction worker Hilario Gálvez walks into Tienda María to buy snacks to share with his friends, instead of reaching for his wallet, he pays with bitcoin through an app on his phone.