YENSA WERTH, ASSISTANT EDITOR
Cryptocurrency is here to stay in our opinion and in Antigua & Barbuda, for instance, Bitcoin and Bitcoin Cash is now accepted in many places across the island including shops and restaurants. Currently, there are no governments that accept crypto payments for residency or citizenship application fees, however, if you are applying via a licensed agent or intermediary, which all the Caribbean CIP programs require, it may be possible for you to pay in crypto via the agent.
What’s even more exciting is that Citizens International is now accepting cryptocurrency for citizenship and property investments. We have been looking at it for some time and decided recently to accept payments in crypto from our international clients as there is quite a large demand! We will now be accepting the following: ADA, ARK, BCH, BTC, BTG, CVC, DAI, DGB, DOGE, EOS, ETC, ETH, GNT, ICX, IOT, LSK, LTC, NEO, NXT, OMG, QTUM, RDD, SAI, SC, STEEM, STORJ, STRAT, TRX USDT, VET, WAVES, WTC, XEM, XLM, XRP.
“As of August 2021, there were over 18.8 million bitcoins in circulation with a total market cap of around $858.9 billion, with the figure updating frequently. Only 21 billion bitcoins exist, preventing both inflation and manipulation.” – Investopedia
Are you unfamiliar with Cryptocurrency? Let us break it down for you. This is a digital or virtual currency that can be used to purchase goods and services. The first and leading blockchain-based cryptocurrency was Bitcoin, which was launched in 2009. Cryptocurrencies allow for secure online transactions denominated in terms of virtual “tokens”, represented by internal ledger entries into the system.
Benefits of Bitcoin Cryptocurrencies:
- User autonomy
- Transactions are pseudonymous
- Transactions do not incur banking fees
- Payments have low transactions fees for international payments
- Payments are mobile
- Transactions are secure
- Accessibility
- Peer to peer focus
Here are some companies in Antigua & Barbuda that now accept Bitcoin Cash: Sheer Rocks Restaurant, Fort Medieval, The Cool Pool, Creole Antigua Tours, Bare Foot & Bare Vibes, Relocate Antigua, Steph & Vlada’s Studio, Akropolis Greek Restaurant, Gents World, 2M Heavy Enterprises, M & M Service Station, Midtown Car Rental, Thirty-Six 5 Beach Bar, The Tailor’s Daughter, Learning Ladder Child Care Centre, North Coast Hardware, and at least 30 more major businesses.
Is Blockchain technology the future?
Benefits of blockchain technology:
- This type of technology enables trust between the participants who may not know each other
- Enables real-time data sharing among businesses
- Creates more improved security and privacy system with an unalterable record of transactions with end-to-end encryption which limits fraud and unauthorized activity
- By aggregating and amending data, reduced costs are a result along with the ease of reporting and auditing
- With limited intermediaries transactions are done swifter than conventional methods
- Transactions are ensured to not be altered or deleted
- Converts the value of an asset into a digital token recorded and shared via blockchain
According to NASDAQ, the future can and will be greener with blockchain technology. Cryptocurrency transactions are becoming increasingly popular and this means that the digital currency market is a breeding ground for business opportunities. I mean, even we have hopped on the bandwagon! Once you have a better understanding of this currency and technology and see the multitude of possibilities, why wouldn’t you? Especially now that it will allow transactions and overall processes to become more secure and exceedingly smoother due to the swift time frame.
Quoted Sources:
https://www.investopedia.com/terms/c/cryptocurrency.asp
Helpful Cited Sources:
https://www.investopedia.com/ask/answers/100314/what-are-advantages-paying-bitcoin.asp#citation-3
https://www.nasdaq.com/articles/the-future-can-and-will-be-greener-with-blockchain-technology-2021-06-17
https://www.chainalysis.com/chainalysis-kyt
https://news.bitcoin.com/the-number-of-cryptocurrency-exchanges-has-exploded/
How do I begin the process and get a bespoke quote for myself and my family?
If you’d like to speak to us, please either send us a webchat (click the icon bottom right of this page), email or book in for a video consultation easily in our partner calendar. We find video conferencing to be the most efficient use of your time to ascertain the best program for you and your family. We encourage you to take advantage of it since your first consultation is free of charge.
FREE DOWNLOADS
