Learning the
friendly way

Remember those late nights battling friends over Monopoly, only to watch them build a hotel empire that wiped you out? Surprise – those brutal losses actually taught you more about money than any school class ever did.

Think about it. All those hours trading properties and counting colourful cash? You were low-key learning real financial skills.

Here we explore some classic board games that sneakily teach us about money and why game night might be worth more than just family bonding (or friendship breakups).

The OGs of financial gaming 

First up, Monopoly – the game that's probably seen more family arguments than any holiday meal. Beyond the thrill of watching someone land on Mayfair with your hotel on it, Monopoly has some sneaky money lessons. 

Notice how players who buy every single property often end up broke? Lesson one: keep some cash in reserve. The real magic, though, is in the deals. Trading Baltic Avenue for a get-out-of-jail-free card only to see your sibling realize they got hustled? Pure satisfaction. Plus, the joy of collecting rent while doing absolutely nothing? Welcome to passive income 101. 

And then there’s The Game of Life – where picking between doctor or YouTube star plays out the consequences. It's a crash course in big life choices: Is it worth the debt for that degree? Should you buy insurance or take a gamble? And the real kicker – sometimes the “safe” road with a steady paycheck beats betting it all on that dream job.

The new school money makers

If Monopoly is the grandfather of money games, Stockpile is the cool cousin who works on Wall Street. This game lets you play Gordon Gekko without the whole "going to jail" thing. You'll learn about stocks without risking your actual savings, and we’re willing to bet that watching your friends panic when their "sure thing" stock crashes is way more fun than checking your real investment portfolio.

The fun part? You get insider trading tips during the game (legally, of course). It's hilarious watching players debate whether to trust that hot stock tip or play it safe. One round you're Warren Buffett, the next you're crossing your fingers hoping your tech stocks don't tank. Kind of like real-life trading, some might say.

Then there's Cashflow, created by the "Rich Dad" guy himself. It's basically a crash course in getting rich while pretending to have fun. You'll learn the difference between assets and liabilities (spoiler: that fancy car isn't making you money), and figure out how to escape the 9-to-5 grind through smart investments. Fair warning though - you might quit your job after a few rounds to become a real estate mogul.

The unexpected financial teachers

Here’s where it gets sneaky – these games have been teaching you money moves all along. Take Ticket to Ride. While you’re laser-focused on building that perfect New York-to-LA route, you’re actually mastering resource management. Ever burned through all your train cards early, only to have someone block your perfect path? That’s basically paycheck-gone-on-day-one energy.

Then there's Catan – aka How to Lose Friends Through Aggressive Sheep Trading. One minute, you’re rich in brick; the next, you’re stuck because nobody wants to trade. It’s supply and demand in the flesh. And remember: putting all your hopes in wood and ore is like going all-in on one crypto. Diversify, people.

The real genius of these games? You’re sharpening real money skills without even noticing, all while throwing down over wheat wars and blocked routes.

Final dice

Next time someone questions your game night plans, let them know you're honing real-life money skills. These board games have quietly schooled us in finances for years – from building empires to making savvy trades.

Want to teach the kids about money without the lectures? Just break out the board games. Who knows, those game night lessons might be exactly what you need to handle real-world money moves.

Today, TikTok ranks as the fifth largest social media platform globally, used by 31% of social media users and 30% of all internet users worldwide. Taking things one step further, TikTok is also busy revolutionising social media shopping through its TikTok Shop. Looking to dive in?

If you’re unsure how TikTok Shop works or what payment options are available, you’re in the right place. This guide covers everything you need to know about TikTok Shop payment methods.

What is TikTok Shop?

TikTok Shop is an integrated marketplace where you can purchase products directly through the app. Here you'll find everything from trending fashion items to electronics, all available from both independent sellers and major brands. *It’s worth noting that these are third-party sellers and not from TikTok directly. 

You’ll also need an account to use it. 

Finding TikTok Shop

Getting started is simple:

• Download the TikTok app and create an account if you haven't already
• Look for the Shop icon at the bottom of your screen
• Start browsing products through videos, lives, or the Showcase tab

What payment methods are available on TikTik Shop?

TikTok Shop offers several convenient payment methods to suit your preferences and location:

Card payments

• All major cards accepted (Mastercard, Visa, American Express, Discover - yes, you can also use your Tap card)
• Both credit and debit cards are welcome

Digital wallets

• Apple Pay (iOS users)
• Google Wallet (Android users)
• PayPal

Buy Now, Pay Later

• Klarna: Split larger purchases into four interest-free payments

Making your first purchase

Ready to start shopping? Follow these simple steps:

• Find a product you love
• Click "Add to Cart"
• Hit "Check out" when ready
• Enter your shipping details and billing address
• Select your preferred payment method
• Review your order
• Confirm and place your purchase

Managing your payment methods

To add or change your payment method:

• Visit your TikTok profile
• Select "Your orders"
• Tap "Payments"
• Add new payment methods or set your preferred option

Shopping tips

• Always verify seller ratings and reviews before purchasing
• Check product descriptions and shipping information carefully
• Keep track of your orders through the TikTok app
• Enable notifications to track your order status
• Purchases are eligible for Tap cashback rewards

With these payment options and your Tap card at hand, you're ready to explore everything TikTok Shop has to offer.

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In the continuously evolving landscape of cryptocurrencies, stablecoins stand out as the level-headed cousins of the more volatile digital assets. These cryptocurrencies, designed to maintain a stable value, have been gaining traction in the financial world. However, their rising popularity has not gone unnoticed by regulators, particularly in the European Union.

The EU, known for its proactive stance on financial regulation, has set its sights on stablecoins. Recent developments indicate a significant shift in the regulatory approach, with new rules being implemented that could substantially impact the future of stablecoins in Europe. 

This blog takes a look at the EU's latest regulatory measures, their implications for the stablecoin market, and what this means for the broader cryptocurrency ecosystem.

What is Markets in Crypto-Assets (MiCA)?

The Markets in Crypto-Assets (MiCA) regulation serves as a unified framework to standardise crypto-asset regulation throughout the European Economic Area (EEA). Its goals are to foster innovation while safeguarding consumer interests, ensuring market integrity, and maintaining financial stability. 

By replacing individual national regulations, MiCA creates a consistent approach for crypto-asset service providers and token issuers.

Under Titles III and IV, MiCA’s stablecoin provisions took effect on 30 June 2024. This framework also introduces a licensing process for companies issuing stablecoins within the EEA, meaning that only MiCA-compliant entities will be permitted to issue and distribute stablecoins across the region.

How the EU defines stablecoins

According to the EU's MiCA regulation, stablecoins are categorised into two distinct types:

• E-money tokens (EMTs): These stablecoins are pegged to a single official currency, functioning similarly to electronic money. E.g. USDT and USDC.
• Asset-referenced tokens (ARTs): These stablecoins are backed by multiple assets, such as a diversified basket of currencies, commodities, or other cryptocurrencies. E.g. DAI and PAXG.

Both types are designed to provide stability in the often volatile cryptocurrency market, but each has its own specific regulatory requirements under MiCA.

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Key EU regulations on stablecoins

MiCA imposes restrictions on stablecoin issuance and usage, particularly focusing on their use as a means of exchange for goods and services. This regulation aims to protect monetary sovereignty within the EU.

For foreign currency e-money tokens (like USDC or Tether) and asset-referenced tokens, there are limits on their use for everyday transactions within the EU. However, these limits are specifically designed not to restrict stablecoin use within the crypto world or for broader investment purposes.

The regulation allows for unlimited use of stablecoins for crypto-related activities and investments but aims to limit their use as a replacement for traditional currencies in everyday transactions.

A great takeaway is that the EU is preparing for stablecoins to make a bigger appearance in everyday financial transactions. 

Limits on Transaction Volumes

MiCA sets daily limits on non-EU currency stablecoins used "as a means of exchange within a single currency area." Issuers are required to halt issuance if daily usage surpasses 1 million transactions or €200 million.

However, several exclusions reduce the scope of these limits:

• Transactions involving at least one party outside the EU are exempt.
• Investment-related transactions, including those involving crypto assets, are excluded.
• Transactions between non-custodial wallets are not subject to reporting.
• Collateral and derivatives transactions are not counted.

Guidance from the European Banking Authority (EBA) has further clarified these exemptions, suggesting that the impact on stablecoin usage may be minimal. However, for issuers aiming to expand in the EU’s retail payments market, MiCA indicates a clear preference for Euro-based stablecoins over foreign currency alternatives.

Requirements for Stablecoin Issuers

Out of interest, MiCA’s framework also outlines key requirements for stablecoin issuers:

• Reserve Management: Issuers must ensure that reserve assets are effectively managed, remain separate from their own assets, and are not pledged as collateral.
• E-money Token Issuers: These issuers must be licensed either as credit institutions or electronic money institutions (EMIs) and must allow holders to redeem the token’s value against the referenced currency at any time.
• Asset-Referenced Token Issuers: These issuers are required to maintain a reserve to back the token's value, mitigating currency and market risks. They must obtain regulatory authorisation and have their whitepaper approved before launching tokens to the public.
• Reporting: Issuers are also required to submit quarterly transaction volume reports to ensure ongoing compliance with regulatory thresholds.

Final thoughts

The EU’s regulatory approach to stablecoins under MiCA strikes a careful balance between fostering innovation and maintaining financial stability. By categorising stablecoins and setting strategic limitations, the EU signals an openness to progress while emphasising stability. 

Moving forward, we can anticipate a more organised stablecoin market within the EU, with Euro-based options likely leading in routine transactions. In a broader picture, internationally, the EU’s approach may set a regulatory benchmark, encouraging other regions to adopt similar frameworks. 

As this regulatory journey progresses, the global cryptocurrency community will be watching closely to see the impact of the EU’s structured approach.

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Planning a Spanish getaway? Don't let cash concerns dampen your fiesta spirit! At Tap, we're all about making your travel experiences seamless and stress-free. So, we've put together this handy guide to help you navigate the world of Spanish ATMs like a pro.

Finding ATMs in Spain

Good news: finding ATMs in Spain is much easier than finding the perfect paella. ATMs (or "cajeros automáticos" as the locals call them) are as abundant in Spain as sunshine and siestas. You'll find them:

• At airports 
• Along bustling high streets
• In shopping centers 
• Outside bank branches

Pro Tap Tip: Heading off the beaten path? Rural areas might be a bit trickier for ATM hunting. Pack some extra euros if you're venturing into Spain's charming countryside.

Will your card work? (spoiler: probably)

You're golden if you've got your Tap card in your wallet! Visa and Mastercards are widely accepted across Spain, as well as American Express, but be sure to check with the restaurant before settling in. 

Withdrawal limits

Expect to be able to withdraw between €300 to €1,000 per transaction. But remember, your UK bank might have its own daily limit. Check before you travel.

With regards to your Tap card, most plans offer a monthly card spending limit of €15,000 and free ATM withdrawals of up to €500. The Prestige and Platinum account options offer more. 

Navigating ATM fees

Let's talk about those hidden fees:

1. Exchange rate fees: Always choose to be charged in euros. Trust us on this one – it'll save you from sneaky exchange rate markups.
2. ATM fees: Spanish ATMs might charge a small fee (usually under €1). But watch out for those privately-owned machines – they can be pricey.
3. Your bank's fees: Some UK banks charge for overseas withdrawals. Check your terms before you fly. (As mentioned above, Tap offers free ATM withdrawals up to €500 on most plans).

Tap's top tips for ATM triumph

1. Airport ATMs: Convenient? Yes. Expensive? Also yes. Use as a last resort only.
2. Bank partnerships: Check if your bank has Spanish besties. You might score some free withdrawals.
3. Go local: Always choose to be charged in euros. 
4. Spread the love: Make fewer, larger withdrawals to minimise per-transaction fees.

Why Tap is your perfect travel companion

While we can't accompany you on your tapas tour or salsa lessons, Tap can make your Spanish spending spree a breeze. With our multi-currency account and card:

• Spend like a local in 150+ countries (including Spain, of course)
• Enjoy fee-free ATM withdrawals up to €500 per month
• Get real-time exchange rates that won't break the bank
• Keep an eye on all your transactions in real time in one convenient location - your phone.

Ready to make your Spanish adventure as smooth as possible? Download the Tap app and say "¡Adiós!" to travel money worries. Psst be sure to order your card before you leave, we’ll deliver it to your door in no time. 

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In this article, we're covering what transaction fees are, and taking a look at which cryptocurrencies offer the lowest transaction fees.

While long-term traders are unlikely to get affected by transaction fees, short-term traders and people actively using cryptocurrencies are often plagued with excessive fee structures.

This complaint has led to layer 2 solutions, where transactions can most quickly and cost-effectively be executed, as well as new blockchain platforms entirely (as was the case when developers migrated away from Ethereum due to high transaction costs).

What are transaction fees?

Transaction fees are fees paid to the miner of the network to execute the transaction. While some networks differ in how they operate, transaction fees are consistent across the board. Looking at Bitcoin as an example, when a user sends BTC the transaction is entered into a pool of pending transactions known as a mempool. 

The miner will then pick up a batch of transactions and validate them, checking to see whether the original wallet does in fact have the funds to send and if the wallet addresses are valid. Once the transaction is executed, the data relevant to the transaction is added to a block, which is added to the blockchain chronologically. 

As compensation to the miner for their time and electricity, they earn a small crypto transaction fee from each transaction as well as a reward for adding the block, known as a miner's reward. This process also ensures the safety and integrity of the network.

When the networks are very busy, the cost of sending a transaction is increased. Users can then choose to add in a higher crypto transaction fee in order to prioritise their transaction in the mempool. 

Transaction fees for smart contracts are based on how much electricity will be needed to complete the task. Typically, transaction fees on smart contracts are much higher.

Generally, the terms transaction fee and network fee can be used interchangeably. They both refer to the transaction fee necessary by the network for the transaction to get processed.

Exchange fees refer to something else entirely. Exchange fees are fees charged by the exchange in order to conduct the service. Be sure to check before conducting a transaction on an exchange as you might be required to pay a transaction fee (or network fees) as well as exchange fees.

How to pay less for transaction fees

A transaction fee is imperative to your transaction getting executed so it cannot be avoided entirely, however, there are ways to reduce the amount you need to pay.

Transaction fees increase when the network is busy, so sending your transaction while the network is quieter is a great way to reduce the transaction fee. Typically the busier periods are during business hours in the United States. 

Look out for the Lightning Network for Bitcoin and layer-2 scaling solutions for Ethereum as these will provide a cost-effective solution to high transaction costs on those networks.

Which cryptocurrency has the lowest average transaction fee?

Let's take a look at some of the most popular cryptocurrencies and the average transaction fee associated with their platforms. 

XRP - $0.0002 per transaction

Developed by Ripple Labs, XRP is optimised for fast, affordable cross-border payments, with a focus on serving financial institutions and remittance providers. Thanks to its unique architecture, XRP has cemented its status as a key player in the payment processing space.

XRP's minimal costs and 4-second transaction times make it a preferred choice for users and institutions alike. 

Solana (SOL) - $0.00025 per transaction

Solana’s transaction fees cost just fractions of a cent ($0.00025), with complex transactions also coming in incredibly cheap. The network stands out for its lightning-fast transactions, typically wrapping up in about 2.5 seconds. Thanks to its scalable design, Solana can handle many transactions simultaneously, making it a hit for dapps and big blockchain projects.

This efficiency, coupled with its rapid speed, has made Solana a favourite among both developers and users, and a permanent feature in the top 10 biggest cryptocurrencies based on market cap (currently number 5).

Litecoin (LCH) - $0.0025 per transaction

Litecoin stands out as one of the cheapest crypto options out there, costing around $0.0025 per transfer. As an early pioneer in the space, Litecoin was designed with fast, affordable payments in mind, borrowing and refining Bitcoin's underlying technology. Litecoin's speedy 2.5-minute transaction times add to this appeal.

The minimal fees on Litecoin are a huge plus, with its efficiency and speed making Litecoin an attractive choice for those seeking a cost-effective crypto.

Bitcoin Cash (BCH) - $0.01 per transaction

Bitcoin Cash makes it onto the list with an attractive $0.01 average transaction fee. As a Bitcoin offshoot, BCH was engineered for faster, more affordable transfers via larger block sizes. 

The cost-effective fees on Bitcoin Cash have made BCH a viable option for those looking for a low-cost market entry and equally impressive low-cost transaction fees. 

Dogecoin (DOGE) - $0.04 per transaction

Dogecoin, born in 2013 as a playful take on crypto, has surprisingly become a significant player in the crypto space. Despite its lighthearted meme-inspired origins, Dogecoin's enthusiastic community and celebrity endorsements have propelled it into the mainstream. 

Its low $0.04 average transaction fees and fast 1-minute transaction times make it practical for frequent micro-transactions like tipping and donations, blending fun and function.

Trade smart, trade with Tap

Users can trade all the tokens mentioned above with equally impressive low-cost exchange fees directly on the Tap app. Adding to the cost-effective nature of the platform, it also offers heightened security and added convenience. It's time to trade smarter, download the Tap app and get started today. 

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On 1 June 2019, Nayib Bukele shook up El Salvador’s political scene, stepping into the presidency with a bold promise to revolutionise the nation. Five years later, Bukele secured a resounding re-election victory, winning over 85% of the vote in a landslide that reaffirmed his overwhelming popularity with the nation.

At just 37, Bukele became the youngest leader in modern Salvadoran history, captivating a country eager for fresh ideas and a break from the status quo. His rise signalled the dawn of a new era, and while his leadership style and policies have drawn both praise and criticism, everyone can agree that the results have been dramatic.

Since Bukele took office, the homicide rate in El Salvador has dropped by over 70%, transforming what once was a “murder capital” into a country safer than Canada. 

His administration's "Territorial Control Plan" has been credited with helping to reduce gang violence, bringing relief to communities long plagued by insecurity. Additionally, Bukele’s ambitious economic reforms have attracted over $1 billion in foreign investments, while the country’s GDP growth reached 10.3% in 2021, one of the highest in Latin America at the time.

Bukele, formerly the mayor of San Salvador, campaigned as an anti-corruption outsider. He used social media to connect with younger voters and disrupt the long-standing two-party dominance with his New Ideas party. 

Since taking office, his policies have been bold and often controversial, with a focus on tough crime measures, economic reforms, and unconventional solutions to persistent issues.

Key policies of the Bukele administration include:

1. The adoption of Bitcoin as legal tender in September 2021, making El Salvador the first country in the world to do so.
2. Implementation of the "Territorial Control Plan," a stringent security strategy aimed at reducing gang violence.
3. Large-scale infrastructure projects and efforts to attract foreign investment.
4. A push for technological modernisation, including plans for a "Bitcoin City."
5. Social welfare programs aimed at improving education, healthcare, and reducing poverty.

While Bukele’s policies have earned praise for boosting public safety and economic growth, critics worry about democratic erosion, human rights concerns, and the sustainability of his economic strategies. As El Salvador navigates this transformative era, Bukele’s legacy continues to fuel intense debate both domestically and globally.

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The Bitcoin Revolution

El Salvador made global headlines on 7 September 2021, as the first country to adopt Bitcoin as legal tender alongside the US dollar. This bold move aimed to enhance financial inclusion, attract foreign investment, and cut remittance costs. To promote adoption, the government launched the Chivo wallet app and installed over 200 Bitcoin ATMs across the country, offering citizens a $30 Bitcoin bonus for downloading the app.

The adoption of Bitcoin has also drawn foreign investment, with companies like Strike and Athena Bitcoin establishing operations in El Salvador. This has led to job creation and helped boost economic growth. Additionally, the government created a $150 million Bitcoin Trust to offer loans to entrepreneurs and small businesses, further supporting local economic development.

Bukele now admits that Bitcoin “hasn’t been adopted as widely as we had hoped” by the average Salvadoran, with less than 12% of the population making even a single transaction. However, he notes that the decision still achieved a key goal—shifting El Salvador’s global image. “It gave us branding, brought in investments, and boosted tourism,” Bukele says, pointing to the broader benefits the move has had for the country.

The move also sparked international concern. The IMF urged El Salvador to reverse Bitcoin’s legal tender status, warning of risks to financial stability and consumer protection, which has complicated the country’s bid for a $1.3 billion loan from the IMF.

Supporters of the initiative, however, see potential long-term gains. The government claims that Bitcoin could significantly lower remittance costs—crucial in a country where remittances make up 24% of the GDP. Additionally, Bitcoin has drawn crypto-tourism, with a 30% boost in tourism reported by the Tourism Ministry since the Bitcoin Law.

At the time of writing, the country owned 5,748.76 BTC, worth roughly $334 million. Adopting a dollar-cost averaging approach, the country buys one Bitcoin every day, an initiative that has taken place since 18 November 2022. 

https://x.com/Coachkcrypto/status/1830582119493701637?t=1C6AJiBw83Wux8pn3dKeBg&s=19 

As El Salvador continues its Bitcoin experiment, the world watches closely, as its outcome may shape future decisions on cryptocurrency adoption in other countries.

Cracking Down on Crime

President Nayib Bukele’s approach to tackling gang violence in El Salvador has sparked both praise for its results and criticism over human rights concerns. His administration's "Territorial Control Plan" aimed to dismantle gang structures and take back control of gang-dominated areas and the results have been striking. 

Once one of the most violent countries in the world, El Salvador saw its homicide rate drop dramatically—from 103 per 100,000 people in 2015 to just 2.4 per 100,000 by 2023. This shift has allowed the country to promote itself as a safer tourist destination, highlighting its surf beaches, volcanoes, and coffee plantations.

Bukele’s methods, however, have been tough and controversial. A state of emergency declared in March 2022 led to the arrest of around 81,000 suspected gang members, giving El Salvador the highest incarceration rate in the world. With one in every 57 Salvadorans behind bars (three times the rate of the U.S.) his crackdown has been aggressive.

Many Salvadorans say they feel safer, able to move freely through areas once controlled by gangs. But human rights groups have raised alarms about the impact on civil liberties. Reports have surfaced of arbitrary arrests, forced disappearances, and even torture. Legal experts argue that thousands of innocent people have been caught up in the sweep with little access to justice.

Critics say Bukele’s strategy has eroded civil liberties and weakened democratic institutions. Salvadoran human rights activist Celia Medrano claims the country’s institutions have been "co-opted" and made subservient to the presidency. There are also reports of intimidation and surveillance targeting lawyers, journalists, and NGO workers, some of whom have fled the country.

Despite the controversy, Bukele’s approach has drawn interest from other nations dealing with crime. Ecuador and Honduras are reportedly building mass prisons modelled after El Salvador’s. Even Bukele’s harshest critics, including members of the Biden Administration, acknowledge the improvements in public safety.

The long-term effects of Bukele’s crime-fighting strategy remain to be seen, as El Salvador navigates the delicate balance between security and human rights.

Economic Transformation

When Nayib Bukele took office in 2019, El Salvador faced significant economic challenges, including high debt, low foreign investment, and a struggling textile industry. Gangs were also a heavy burden, costing the country an estimated 3% of GDP annually in extortion payments. Since then, Bukele has pushed ambitious initiatives to attract foreign investment, boost tourism, and develop infrastructure, with mixed results.

On the positive side, unemployment has dropped by about one percentage point, and Foreign Direct Investment (FDI) has improved. FDI inflows reached $487 million in 2023, though still below the $826 million recorded in 2018 before he took office. 

Bukele’s government has focused on sectors like technology and renewable energy, while tourism has seen a boost, particularly through "crypto-tourism," with a goal of attracting 3.2 million tourists by 2024. Major infrastructure projects, including the Pacific Airport, Surf City, and Bitcoin City, have also been launched, with $1.2 billion allocated for infrastructure in 2023.

However, challenges remain. GDP growth slowed to 2.6% in 2022 and is projected to dip further to 1.9% in 2024. Inflation, while relatively contained, was at 7.2% in 2022, and the cost of living has increased, with essential goods now making up three-quarters of the monthly minimum wage. Additionally, the country’s debt-to-GDP ratio remains high at 82.6%, raising concerns about fiscal sustainability.

Overall, while Bukele’s efforts have shown promise in some areas, El Salvador still faces significant economic hurdles as it moves forward. Vice President Félix Ulloa stated that “We have the war against the gangs nearly won, now it’s on us to construct.”

Technological Modernization

In 2019, an anonymous American donor sent over $100,000 in cryptocurrency to an NGO in El Zonte to fund social programs. As the team encouraged locals to use Bitcoin, many residents, most without bank accounts, began saving in the currency, benefiting as its value rose. 

Tourists flocked to the town, and foreign businesses followed. This project earned El Zonte the nickname "Bitcoin Beach," blending philanthropy with one of the largest global experiments in cryptocurrency.

This project aligned perfectly with Bukele's vision for modernising El Salvador, aiming to create a tax-free crypto hub powered by geothermal energy from nearby volcanoes. This bold initiative fits into Bukele’s broader goal to transform El Salvador into a leading tech hub in Central America, and was the precursor to Bitcoin’s legalisation two years later. 

Understanding the influence of digital platforms, Bukele has strategically used social media, especially Twitter (now X), to reach a global audience. By tweeting primarily in English, he has opened direct communication with international investors, financial institutions, and key figures, effectively turning the country's controversial Bitcoin adoption into a marketing tool. This approach has highlighted El Salvador’s progressive stance on cryptocurrency and tech innovation.

Beyond Bitcoin, Bukele has prioritised investments in digital infrastructure and launched tech education programs targeting youth, aiming to build a skilled workforce. This strategy not only supports the country’s tech ambitions but also attracts international investment, paving the way for new opportunities.

Social Programs and Welfare

Under President Bukele’s administration, El Salvador has rolled out several social programs aimed at improving living standards. The "Plan Control Territorial" includes projects like "Surf City," in which his government has invested $359 million to develop coastal communities to boost tourism and local economies. 

In education, the "One Child, One Computer" initiative has distributed over 1.2 million devices to students by 2022, expanding access to digital learning.

In healthcare, the government built Hospital El Salvador, a new facility with 1,000 ICU beds, to strengthen the country’s medical infrastructure. Public health spending also increased, rising from 8% of GDP in 2018 to 10% in 2021, according to Statista.

Efforts to reduce poverty have had mixed outcomes. The poverty rate dropped from 30.4% in 2017 to 22.8% in 2019, but the COVID-19 pandemic caused a setback, pushing poverty back up to 26.2% in 2020.

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Conclusion

President Nayib Bukele has led El Salvador through a period of bold changes, focusing on cryptocurrency, crime reduction, economic growth, and technology. While these efforts have shown quick results, concerns remain about their long-term effects and how they might impact democracy and human rights. 

As the world closely watches El Salvador’s unique approach, the outcomes could influence policies in other countries. Ultimately, Bukele’s legacy will be shaped by how well these changes foster progress while protecting democratic values and social fairness.

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