Exploring Bitcoin as a Currency in Three Brazilian Tourist Cities: A Coinext Report

In an era where cryptocurrency intersects with daily life, three Brazilian tourist destinations emerge as pioneers in embracing Bitcoin as a currency.

This exploration through São Thomé das Letras, Jericoacoara, and Rolante offers a glimpse into a future where digital currency payments are not just possible but preferred, transforming the local economies and tourism landscapes.

Bitcoin Payments in Three Brazilian Tourist Destinations

Bitcoin (BTC) has garnered attention as a means of preserving value due to its long-term price appreciation. However, it also possesses an allure as a new currency that can be used in various regions around the world.

In El Salvador, Bitcoin has been adopted as one of the legal tenders. Similarly, reports indicate that in tourist cities of Brazil, Bitcoin is now being used as a currency.

According to a report by Coinext, a cryptocurrency trading service in Brazil, in the tourist destinations of São Thomé das Letras, Jericoacoara, and Rolante, Bitcoin is being used as a means of payment in daily life.

In these regions, BTC payments are being made using the Lightning Network, which allows for low-fee transfers of small amounts. An article published on April 1st has reported success stories from these areas.

São Thomé das Letras

São Thomé das Letras, one of the main tourist cities in the state of Minas Gerais, is home to several local businesses displaying "Bitcoin Payment Accepted" stickers.

Despite having a population of approximately 8,000 people, the city’s high elevation provides stunning views from anywhere within its limits.

Bitcoin payments are conducted through wallets like "Wallet of Satoshi" and "Blink" via the Lightning Network, with local supermarkets and other businesses accepting Bitcoin. Even children have shown interest in Bitcoin.

While Bitcoin payments are not yet widespread compared to traditional payment methods, this is largely because people prefer to hold onto Bitcoin, seen as a "stronger currency" compared to the "weaker" fiat currencies.

Jericoacoara

Jericoacoara, located in the northeastern part of Brazil and also known as "Praia Bitcoin," is a pioneer in adopting Bitcoin as a currency.

Inspired by El Salvador’s El Zonte village, which introduced the Bitcoin-based economic system "Bitcoin Beach," Jericoacoara has pushed forward with BTC projects and educational efforts, led by Bitcoiner Fernando Motolese.

The initiative began with repairing computers that hadn't been used for two years, supported by a donation of "0.1 BTC" from Bitcoin Beach.

Several businesses now accept Bitcoin payments in the area.

Rolante

Rolante is a city in the southern part of Brazil with a population of 21,000. However, over 200 businesses in the area accept payments in major cryptocurrencies.

The adoption of Bitcoin was driven by a couple who founded the project "Bitcoin É Aqui," promoting Bitcoin in the commercial sector and organizing "Bitcoin festival events" to gather Bitcoiners from all over the country.

In Rolante, the adoption of Bitcoin has indeed promoted tourism, with the majority of merchants processing BTC payments through the Lightning Network.

The Global Increase in Bitcoin-Accepting Stores

The number of stores accepting Bitcoin payments has been steadily increasing over the past few years. In January, data from "BTC Map" reported that the number of stores worldwide accepting BTC payments had tripled over the year.

Given Bitcoin’s widespread use in various regions around the world, considering "Bitcoin payment-accepting stores" when planning trips could offer an interesting dimension to travel experiences.

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