Bitcoin Valley, the first bitcoin city in Honduras, has launched in Santa Lucia. Bitcoin payments will be accepted by local businesses. Santa Lucia is a place where everyone will participate. Accepting bitcoin will allow us to reach new markets and gain more customers,” stated a local business owner.

Bitcoin Valley – First Bitcoin City in Honduras

Bitcoin Valley, the first bitcoin city in Honduras, has launched in the small Honduran tourist town of Santa Lucia, located 20 minutes from the capital city of Tegucigalpa.

The initiative was jointly developed and launched by Blockchain Honduras. It also included the Guatemalan cryptocurrency exchange Coincaex. Bitcoin Valley was launched Thursday by Blockchain Honduras.

Cesar andino, the owner of Los Robles, Santa Lucia’s shopping center, will accept bitcoin along with U.S. dollars or Honduran leipiras. Last week, he told La Prensa that he was waiting for a point of sale (POS) device to allow him to accept cryptocurrency.

We all plan to take part in this project in Santa Lucia. Accepting bitcoin will allow us to access another market and gain more customers.

” We must globalize. He said that we can’t keep ourselves from technology, and that we shouldn’t be left behind when others are doing it.”

Carlos Leonardo Paguada Velasquez is the founder of Blockchain Honduras. He was also a representative of Acucrip, the Central American Association of Cryptocurrency Users.

Around 60 businesses will start with the Bitcoin Valley project.

He pointed out that these business owners have been trained by Decentral Academy in the use and technology of bitcoin.

Coincaex is providing POS devices to merchants to allow them to accept BTC. Paguada stated that Coincaex assumes all risks .”

in relation to bitcoin’s volatility.

For example, he explained that if a family purchases pupusas at a Santa Lucia restaurant and uses bitcoin to pay, the equivalent amount in bitcoin will be taken from the family’s bitcoin account. Coincaex will receive BTC and transfer the payment in lempiras to the restaurant. Bitcoin will not be given to business owners. He clarified that they will be receiving lempiras via Coincaex.

Ruben Carbajal Velazquez, professor at the Technological University, was quoted by Reuters as saying: “Santa Lucia’s community will be educated to use and manage cryptocurrencies, implementing them in different businesses in the region and generating crypto-tourism.”

What do you think about the Bitcoin Valley initiative in Honduras? Please leave your comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage caused by or alleged to have been caused by the use or reliance of any content, goods, or services mentioned here.

Read More