Economy July 26, 2022 | 7:14 am

Dominican Republic embraces cryptocurrencies

Santo Domingo.- Ana Bernier has been receiving benefits for a year as a return on the dollars she invested in the virtual market for the use of cryptocurrencies. She is one of the Dominicans who use digital platforms to buy and sell intangible assets, a segment that in the country has grown 52% this year, according to a recent survey. The Central Bank reiterates that it does not have the regulation and support of the State.

Bernier, 53, did not take long to make the decision to be an investor in digital assets, since the experience of a friend who generates greater volumes than her motivated her to risk placing her money in the market, through an international company.

“I started with $50 and then reinvested what I had. Now I withdraw my profit weekly at an ATM where I have the option to sell my coins and receive payment in pesos,” she told Diario Libre.

Cryptocurrency is a digital currency that uses cryptographic encryption to ensure the integrity of transactions and transfers of assets through technological means. There are many virtual currencies and each one has a different value and a unique code that differentiates it from the others, so two people cannot have the same cryptography (code) in their currencies.

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John Conor
July 26, 2022 12:46 pm

Cashless society anyone?
Blockchain technology?

My Name Is Not Important
July 26, 2022 5:09 pm

I hope it doesn’t replace the peso with any cryptocurrency as an official currency. Nobody want another El Salvador.