🔥🔥🔥 US Company Settles #Salvadoran #coffee Purchase With #bitcoin☀️

Salvadoran Coffee Batch Sold for Bitcoin, Cutting Out Middlemen

Salvadoran coffee producers are embracing Bitcoin for cross-border payments, eliminating the need for intermediaries.
According to the Ministry of Foreign Affairs, U.S.-based Compass Coffee purchased a batch of Salvadoran coffee using Bitcoin, allowing producers to receive fair prices directly.

This marks a significant step in using Bitcoin for commodity transactions. Salvadoran Ambassador to the U.S., Milena Mayorga, highlighted how the use of Bitcoin ensured competitive prices for producers without third-party cuts. She also emphasized that businesses across El Salvador can use Bitcoin for such transactions.

Jorge Cruz, a local coffee producer, revealed that the price obtained was two to three times higher than typical U.S. market quotes. The transaction was completed in under 10 minutes using Bitcoin, after an initial test batch had been sent to verify quality and approve pricing.

This deal followed a series of 2022 meetings between the Salvadoran Foreign Ministry and Compass Coffee to bring Salvadoran coffee to U.S. buyers. Compass Coffee COO, Chas Newman, praised the Salvadoran Embassy’s efforts in facilitating connections, helping local producers grow in the U.S. market. Compass Coffee also plans to enable direct Bitcoin tips to the producers from coffee buyers.

Source - news.bitcoin.com

#BinanceSquareBTC #CryptoMarkets

*☕*Coffee and Crypto Session: August 6, 2024**

Good morning, crypto enthusiasts! Here’s a quick roundup of today’s top crypto news:

1. **Bitcoin and Ethereum**: Both BTC and ETH are seeing a slight uptick today. Bitcoin is up by 1.2%, trading at $29,400, while Ethereum has risen by 1.5%, now at $1,850. Analysts suggest this might be due to increased institutional interest.

2. **Binance Developments**: Binance is expanding its footprint in Europe with a new office in Paris, aimed at strengthening its compliance operations amid ongoing regulatory scrutiny.3. **Shiba Inu (SHIB)**: Shiba Inu has launched its much-anticipated Shibarium, a Layer 2 solution to enhance transaction speeds and reduce costs. The SHIB community is optimistic, with the token experiencing a 5% surge.4. **Russia’s Crypto Move**: Russia is accelerating its crypto initiatives, with the central bank announcing a pilot for a digital ruble expected to go live by the end of 2024.5. **Malaysia and BRICS**: Malaysia’s formal bid to join BRICS is progressing, potentially opening new avenues for crypto adoption and economic collaboration within the bloc.6. **Regulatory News**: India’s Supreme Court is set to hear a landmark case on cryptocurrency legality next month, which could have significant implications for the crypto market in the region.Stay tuned for more updates and enjoy your coffee!
#coffee #BinanceTurns7 #ETH_ETFs_Approval_Predictions

Life is a great🙂☕️

May a coffee change a person's life?

#coffee #BitcoinSquareTurkiye
$BTC $ETH $BNB

BITCOIN + COFFEE = PERFECT PAIR?

El Salvador sold coffee to Compass Coffee for bitcoins, and this is considered the first step towards a coffee crypto revolution.

The price is $39.59 for a double pound of coffee (or 0.0006284 BTC).

Minimum intermediaries, maximum benefit - and no bank fees!

Do you think we will soon be paying for espresso in bitcoins in every coffee shop?

#BTC #Salvador #coffee #newscrypto $BTC