Latest Crypto News: Most Salvadorans Consider Bitcoin’s Adoption As Currency A ‘Failure’

Here are some latest developments in the cryptocurrency world.
Latest Crypto News: Most Salvadorans Consider Bitcoin’s Adoption As Currency A ‘Failure’

More than a year after Bitcoin was accepted as a legal tender in El Salvador, a new poll released on Tuesday revealed that most Salvadorans saw President Nayib Bukele's controversial decision to adopt the cryptocurrency as a legal tender as a "failure," AFP reported.

The study conducted by the University of Central America (UCA) showed that 75.6 percent of the respondents said they would never use cryptocurrencies, and 77 percent said the president's decision to adopt Bitcoin as the country's currency alongside the US dollar 14 months ago "had failed."

Meanwhile, the crypto exchange WazirX has announced a gift card feature on its platform to enable registered users to gift cryptos this festive season.

WazirX is launching two products: Shagun and Muhurat trading, targeting Diwali festivities. Users could win free WRX using the Gift Card feature and zero fees for trading cryptos on the platform. Besides the Crypto Gift Card feature, Shagun & Muhrat features (will) will be active from October 20 and 22, 2022, respectively, WazirX said in a press release.

WazirX will offer WRX Shagun from October 20-26, 10 am-10 pm IST, to the first 10,000 unique users who send gifts via WazirX gift card. Shagun, which will be given via coupons, will be decided based on a lucky draw. "Additionally, with the distribution of Shagun this Diwali, on the WazirX P2P engine, the minimum purchase value will be reduced to 8 USDT (from the previous 14.5 USDT) for all users from 20th October 10 am to 26th October 10 pm IST," the statement added.

Rajagopal Menon, VP of Marketing, WazirX, says, "Bitcoin was modeled as digital gold, and all of us know how much Indians love gold. WazirX was founded to make crypto accessible to every Indian - we believe that the gift card feature will go a long way in converting no-coiners to proud crypto users. The Muhurat trading and WazirX Crypto Gift Cards will let users share the joy of owning Crypto with their loved ones."

In other news, TravelX, a marketplace for tokenized travel products, and Latin American cryptocurrency exchange Lemon have merged to enable Lemon users to purchase air tickets.

In September, TravelX said that its tickets for budget Argentine airline Flybondi would be turned into non-fungible tokens or NFTickets after purchase.

Each Lemon user can buy up to two tickets on TravelX with USDC from their Lemon wallet and receive 50 per cent cashback in Bitcoin starting in October, with a cap of 100 USDC per transaction.

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