Can small countries accept the bitcoin as the legal transactions

[Stardom22]

For the truth of the matter, any country small or big can make Bitcoin a legal tender. What they shouldn't do is have a unrealistic expectation that doing so will improve be the economy of their country and the standard of living is the citizens and they shouldn't restrict citizens to a certain platforms.
Sure, it will help the acceptance of Bitcoin if a top country makes it a legal tender and if it becomes popular among many countries, but that's about it for sure.

 

[Suba]

A small country that has accepted crypto/Bitcoin as a medium of exchange is Singapore, many shops have started to accept crypto, including Grab (online taxi), “&glazed” e-retailer of household appliances which also accepts crypto payments. But crypto does not replace fiat money Singapore dollars (SGD) as is the case in El Salvador.

 

[kerryjoy]

Yeah, because it is also the future of all the money and transactions

 

[Starmix]

Bitcoins in the Philippines started years ago and many already became millionaires and those already rich gets richer. I hope I'll be lucky too.

 

[Suba]

Before 2016, in my country there were no crypto regulations, so crypto could still be used as a medium of exchange, whether paying for coffee in a cafe or some shops that put labels accepting Bitcoin, but since the enactment of the crypto regulations, Bitcoin is prohibited as a medium of exchange but is recognized as a commodity item like stocks and gold,

 

[Nomad]

It is took risky to accept bitcoin payment if your finances are not good

 

[King Belieal]

The government of my country doesn't want to accept crypto to exist alongside the fiat. They believe it would dollarize the economy since crypto is measured in dollars.

 

[Augusta]

Yes, I think there will come a time that this would be possible. We just have to wait it out but it would happen

 

[magnus2022]

I think El Salvador iscusing bitcoin as their legal tender. In fact, it is the official currency of the country. I think other three countries want to follow the footsteps of El Salvador but are still deliberating it.

 

[riberet19]

Legal tender, means that a government recognizes something as currency, Bitcoin is not legal tender because it is a sovereign currency, you do not need it to be legal tender to make transactions with it, I can make transactions in my country with Bitcoin legally without it being legal to tender.

 

[Xtynehappy]

I really Iike Singapore. That is because it's always ahead on the matters dealing with the finances.

 

[Stardom22]

I think my country has no plans about that. It would be really good for something like that to be implemented by the government for sure.

 

[eLdavis]

Yes small countries can accept Bitcoin, it mostly depends on them if they want to accept the use of Bitcoin or not.