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Brazil soon to own Bitcoin Beach, After El Salvador

Brazil, which is just 5,123 km away from El salvador kicks off its own Bitcoin beach experiment. More so, this is coming after El Salvador’s “Bitcoin Beach” experiment in the coastal town of El Zonte. However, the country’s in now famous for adopting bitcoin as legal tender.

Brazil Bitcoin Beaches

So, Jericoacoara, in eastern Brazil is the new site for the bitcoin beach. As Bitcoin Beach BR Twitter account reports, a businessman donatesn0.02 BTC with other to bring this to reality.

Furthermore, The experiment’s targets to set up a node, help locals, exposure to Bitcoin. Of course, urge businesses to accept BTC and then make “BTC VIP experiences.”

“The #Bitcoin beach phenomenon gets to Jericoacoara in Brazil @bitcoinbeachbr…”
“Are there other #Bitcoin beaches inspired by the OG @Bitcoinbeach in El Zonte?”

— What Bitcoin Did (@WhatBitcoinDid) October 13, 2021

The perfect place

Brazil from 2020 offers blockchain projects and their creators freedom and immunity from ban or restrictions. Especially, by the Brazilian Securities and Exchange Commission (CVM). Additionally, the country with over 211 million people has a over 1 million legal crypto users.

Also, Crypto adoption interest is on the increase daily in Brazil, following the adoption of Bitcoin in El Salvador.

According to The Blockchain LatAm Report 2021 by Sherlock Communications,

“Brazilians were the biggest supporters of crypto-recognition in the region, with 56%…”
“supporting El Salvador’s approach, and 48% saying they want Brazil to adopt it too.”

Furthermore, the government is also making plans to vote on a crypto regulation bill. Which of course, will lead to Bitcoin getting legal grounds in the country.

Conclusively, Brazil had 21 Bitcoin ATMs/tellers while Canada had 2,007 Bitcoin ATMs/tellers.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.