With the huge increase in cryptocurrency adoption by non-experts in 2021, the number of scammers is also on the rise. Fraudsters have started using the SIM-swap method to gain access to users' personal information such as emails, bank accounts, and even their digital assets.
The world looks to El Salvador, as El Salvador officially recognises Bitcoin as its national currency today, September 7, 2021. Many crypto advocates are excited about Bitcoin becoming a national currency and are looking to El Salvador for more cryptocurrency developments.
Although both states are in America, there is a competition for bitcoin leadership between Wyoming and Texas. The state of Wyoming is fighting for leadership in the adoption of cryptocurrency and blockchain technology.
After the El Salvadoran Parliament agreed to adopt Bitcoin as the country's second national currency alongside the US dollar, the new currency will be officially launched on September 7. The country has done most of the groundwork for the Bitcoin launch.
The adoption of cryptocurrencies including Bitcoin among various sports clubs has increased significantly. The latest club to jump on the digital currency bandwagon is Dutch Football Club, which accepts all of its sponsorship payments in Bitcoin.
Although President Nayib Bukele was confident about his country's decision to recognize Bitcoin as legal tender, he was nearly brought down by widespread institutional criticism from agencies such as the International Monetary Fund (IMF), the World Bank and others. However, the recent endorsement from Bank of America gives Bukele renewed vigor and enthusiasm to continue pursuing the Bitcoin dream.