Analysis

The 3 tourist cities in Brazil using Bitcoin as money

Discover three popular tourist destinations that accept Bitcoin as regular currency: Jericoacoara, Rolante, and São Thomé das Letras. Recognize how important it is for the Lighting Network to encourage the use of Bitcoin as a form of payment.

Store of Value or Medium of Exchange?

The most popular cryptocurrency on the market, Bitcoin (BTC), is making a name for itself as a trustworthy, liquid, and global store of value. Bitcoin is already worth more than a few national government-issued currencies, with a market value of over $1 trillion. Notably, Bitcoin has already surpassed the value of the Swiss franc and the Russian ruble.

The foundation of Bitcoin is starting to establish itself as a large-value settlement network, following years of technical debates. Concurrently, second-layer, centralized, or decentralized solutions are being used for transactions that call for cheap fees and fast processing times.

For settling minor bitcoin payments or making regular purchases, the Lightning Network (LN), a solution meant to increase Bitcoin’s scalability, is likely the most popular option.

LN is becoming a well-liked means of daily payment in three popular cities (Jericoacoara, São Thomé das Letras, and Rolante), at least in Brazil.

Notably, Brazil’s North, Center, and South are home to these cities. Local nonprofit initiatives propelled the use of Bitcoin in each of the three locations.

Find out a little bit more about these three Bitcoin success stories.

The goal of this post, which was first posted on the Brazilian site Coinext, was to provide informative knowledge regarding Bitcoin and the market for digital assets.

São Thomé das Letras

Without a doubt, São Thomé das Letras is one of Brazil’s most mysterious locations. With only 8,000 residents, the city is among the most popular travel destinations in the state of Minas Gerais, of which it is a part.

São Thomé das Letras offers breathtaking views of the city from every part of its high mountain location. In addition, there are conveniently accessible rivers and waterfalls all around the city. The many myths and stories associated with the area, which include gnomes, aliens, elves, and other supernatural creatures, are another feature.

And it was in this environment that the Mountain Bitcoin project started to take shape. The initiative was launched by a local bitcoin enthusiast with the goal of educating city dwellers about the most popular cryptocurrency.

The outcome was remarkable. Numerous neighborhood establishments have decals that read, “We accept Bitcoin.” Via LN, payments are performed using Blink Wallet and Satoshi.

According to São Thomé das Letras resident Victor Souza, the project has piqued children’s interest in Bitcoin in particular:

“The biggest local grocer, which has consented to take part in the scheme, will allow the children to spend the satoshis they received in their wallets on fruit. The kids were overjoyed and eager to find out more about Bitcoin. As a generational technology, bitcoin actually tends to pique the interest of younger people. It is ultimately unavoidable and a natural progression of money.”

Jericoacoara

Praia do Bitcoin is the name given to the northeastern Brazilian city of Jericoacoara. El Zonte, in El Salvador, served as inspiration for Jeriquaquara, who was the first to use Bitcoin as money.

Fernando Motolese, a bitcoin enthusiast, spearheaded the effort and encouraged learning opportunities for nearby merchants and students.

The school librarian informed me that the IT room’s computers had not been used in two years. Computer technician is what I do. In order to fix the school’s computers, I instructed the director to seek funds on his own.

Motolese clarified:

“We became more intimate. I said on the internet that I needed help getting the PCs fixed. This made it possible for us to become closer. We received a donation of 0.1 bitcoin from the people at Bitcoin Beach. With the gift of 0.1 bitcoin from Bitcoin Beach, we carried out this activation, which consisted of producing 408 paper wallets.”

Rolante

Praia do Bitcoin is the name given to the northeastern Brazilian city of Jericoacoara. El Zonte, in El Salvador, served as inspiration for Jeriquaquara, who was the first to use Bitcoin as money.

Fernando Motolese, a bitcoin enthusiast, spearheaded the effort and encouraged learning opportunities for nearby merchants and students.

The school librarian informed me that the IT room’s computers had not been used in two years. Computer technician is what I do. In order to fix the school’s computers, I instructed the director to seek funds on his own.

Motolese clarified:

“We became more intimate. I said on the internet that I needed help getting the PCs fixed. This made it possible for us to become closer. We received a donation of 0.1 bitcoin from the people at Bitcoin Beach. With the gift of 0.1 bitcoin from Bitcoin Beach, we carried out this activation, which consisted of producing 408 paper wRolante, located in southern Brazil, has just 21,000 inhabitants. However, more than 200 businesses accept the leading crypto in the region, a very significant number.


The adoption of Bitcoin in the region was driven by the couple Ricardo and Camila, who founded the Bitcoin É Aqui project. In addition to boosting the use of Bitcoin in commerce, they also held the event Bitcoin Spring Festival, which brought together Bitcoiners from all over the country.


Notably, the couple stated although the adoption of Bitcoin is helping to boost tourism in the city:
“The Project “Bitcoin Is Here!” comes at a time when local traders were hungry for something to boost tourism in the region. And at the same time, when I was already restless and needed to pass on the benefits of Bitcoin beyond myself.”allets.”

The bulk of businesses in the city who take Bitcoin settle payments via the Lighting Network, which is then combined in the base layer, according to Victor Souza, head of SEO at Criptonizando:

LN becomes increasingly well-known as the primary open protocol for these payments as a result of Bitcoin’s establishment as a large-amount settlement layer. Many merchants choose custodial wallets, which may then be transmitted to a proprietary address, because of the still-somewhat difficult user experience.

Latin American nations like Brazil are making a name for themselves as early Bitcoin adopters. Since many of the nations in the area have depreciating currencies, adopting the top digital assets is encouraged. Projects like Bitcoin É Aqui, Praia Bitcoin, and Montanha Bitcoin are advanced in adopting Bitcoin as current money, which could take decades to occur globally.

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