World's First Country to make Bitcoin Legal Tender | Dhruv Rathee

El Salvador has become the first country in the whole world to make bitcoin as legal tender. This means that people can use it in their daily lives to purchase things from shops, eat in restaurants and even while paying their taxes! But what is the advantage of such a thing? Why should Bitcoin assist in monetary system more than currencies like US dollar? I explain all this in this video.

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0:00 Introduction
1:19 El Salvador
2:05 What Does ‘Legal Tender’ Mean?
2:47 How will it Work?
5:24 Factors to consider
7:25 Challenges and Criticism
11:34 What does El Salvador hope to achieve?
15:35 Conclusion