Skip to content
Home » “They Rejected Bitcoin and Now They Realize Its Potential”: Development in Guatemala

“They Rejected Bitcoin and Now They Realize Its Potential”: Development in Guatemala

The city of Panajachel in western Guatemala is evolving into a Bitcoin (BTC)-based circular economy, with more businesses accepting the first cryptocurrency as payment as more people realize its potential.

This was recently expressed by the educator identified in X as Reyna Chicas a space in which representatives of various projects of citadels in Africa took part.

What is happening around the town of Panajachel, which sits on the shores of one of the most beautiful natural water features in the world, commonly referred to as Lake Atitlán? This is a matter of study for bitcoin citadel projects that want to go down this path.

Citadels or circular economies based on cryptoactive funds are emerging in different parts of the world. They are made up of growing groups of bitcoiners who believe so The world is getting better as society separates money from the state as the Bitcoin Lake project team is doing.

“Bitcoin has become the preferred payment method for tourists visiting Panajachel,” Clues from the Bitcoin Culture account.

“People used to be reluctant to learn and Now they realize the potential Bitcoin has and what financial education can bring to their lives,” added Reyna Chicas.

Along with Eliazar, one of the leaders of Bitcoin Lake, provide education on the groundbreaking cryptocurrencyincluding the Maya communities living around Lake Atitlán.

For all the acceptance that education encourages, Reynas Chicas and Eliazar emphasize the importance of having tools like the “My First Bitcoin Diploma” in order to achieve the goal of using only “good money” to drive the economy forward, as it they think is bitcoin.

Reyna Chicas is a Salvadoran now teaching Bitcoin in Guatemala. Source: X/ReynaChicas2.

Travel and live in Guatemala with bitcoin whenever possible

Located on the shore of one of the most beautiful lakes in the world, the city of Panajachel is one of the most desirable tourist destinations in Central America. And now it has the added attraction that you can only pay for the visit and stay with bitcoin.

Bitcoiner Andrei expresses it as in a recent publication in which he explains this in detail BTC is the best option to visit the area, Because the exchange rate from dollars to quetzales (Guatemala’s national currency) is usually high, it loses up to 12% with each transaction.

The same happens when you change money through ATMs, with losses of up to 7%. “Fortunately, bitcoin fixes this problem and gives you better options,” notes Andrej.

He recommends Use Bitcoin ATMs in Panajachel and in San Marcos de la Laguna, whose operation does not exceed a commission of 5%.

Among his recommendations is the P2P bitcoin exchange through the local Bitcoin Lake community, whose commission does not exceed 2% commission. A third option is to make purchases directly from companies that accept BTC as a form of payment.

There are more and more places around Lake Atitlán accepting Bitcoin as a means of payment. Source: X/HODLingAPPAREL.

As a tourist in Guatemala, Andrej found several places and opportunities that allowed him to survive in Panajachel and discover his surroundings just paying with Bitcoin.

Leave a Reply

Your email address will not be published. Required fields are marked *