{"id":9443,"date":"2021-09-07T18:55:35","date_gmt":"2021-09-07T17:55:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9443"},"modified":"2021-09-07T18:55:44","modified_gmt":"2021-09-07T17:55:44","slug":"mcdonalds-outlets-in-el-salvador-reportedly-accepts-bitcoin-for-payments","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mcdonalds-outlets-in-el-salvador-reportedly-accepts-bitcoin-for-payments\/","title":{"rendered":"McDonald\u2019s outlets in El Salvador reportedly accepts Bitcoin for payments"},"content":{"rendered":"\n
The legalization of Bitcoin in El Salvador <\/a>is now a reality and this has opened new payment possibilities for its inhabitants. In this light, fast food empire McDonald's located in the country reportedly starts accepting Bitcoin.<\/h5>\n\n\n\n
\"McDonald\u2019s<\/figure>\n\n\n\n

Bitcoin-as-a-payment is becoming reality in El Salvador after the country formally recognized the cryptocurrency as legal tender.<\/p>\n\n\n\n

El Salvador's legalization of Bitcoin (BTC) has opened up new payment possibilities\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> for its inhabitants, with fast-food giant McDonald's apparently accepting Bitcoin payments via the Lightning Network.<\/p>\n\n\n\n

Journalist Aaron van Wirdum broke the news on Tuesday after visiting a McDonald's shop in El Salvador and being given a printed QR code that directed him to a Lightning Network billing page. As of 2019, McDonald's operates 19 locations in the Latin American country.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Lightning is a layer-two payment mechanism that aims to increase the scalability of Bitcoin transactions.<\/a> Despite its success as an investment asset, Bitcoin's use as a medium of trade has been limited.<\/p>\n\n\n\n

Satoshi Nakamoto's whitepaper defining Bitcoin as electronic cash in 2008 focused on bitcoin payments. (It's worth noting that \u201ccash\u201d and \u201cgold\u201d were used interchangeably in Nakamoto's forum posts and correspondences.)<\/p>\n\n\n\n

If El Salvador aspires to gain widespread adoption of Bitcoin payments, the Lightning Network will certainly be vital. Beyond immediate transactions, El Salvador's Bitcoin<\/a> bet might pay off by expediting international remittances, raising citizen wealth, and recruiting crypto-focused enterprises to the country.<\/p>\n\n\n\n

El Salvador's Bitcoin Law went into effect on Tuesday, resulting in a classic case of “buy the rumour, sell the fact” for markets. Between Monday and Tuesday, the BTC price plummeted 19 percent, reaching a low of $42,900.<\/p>\n\n\n\n

President Nayib Bukele said on Monday that his government had made its first Bitcoin purchase. The government had 550 BTC in its reserves as of Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The legalization of Bitcoin in El Salvador is now a reality and this has opened new payment possibilities for its inhabitants. In this light, fast food empire McDonald’s located in the country reportedly starts accepting Bitcoin. Bitcoin-as-a-payment is becoming reality in El Salvador after the country formally recognized the cryptocurrency as legal tender. El Salvador’s […]<\/p>\n","protected":false},"author":12,"featured_media":9445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[152,456,4280],"class_list":["post-9443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-el-salvador","tag-mcdonalds"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/McDonalds-outlets-in-El-Salvador-reportedly-accepts-Bitcoin-for-payments.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9443"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9445"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}