4 Explanations Why El Salvador’s Bitcoin Bond Isn’t The Best Choice for Bitcoiners

The Volcano Bond is one of the most-awaited and hyped obsessions this year in the cryptocurrency market. Every other cryptocurrency user is eager to get benefits through this bitcoin-backed bond. Ever since El Salvador announced the launch of its own volcano bond, the cryptocurrency market has gone crazy. Infusing a billion-dollar self-governing bond into the cryptography recording system would be the first of its kind. After launching such a new-fangled and highly regarded element, is it prudent to disregard and overstep all traditional ways to conduct cryptocurrency business? Does the presence of Volcano Bond mean that existing financial institutions will no longer need to lend and support crypto exchanges? Well, that answer might not thrill the crypto enthusiasts. In order to understand this story, it is necessary to realize that El Salvador announced the concept of Volcano Bond a long time ago, and people have been waiting for its sale ever since then. However, the sale had to be postponed due to the war in Ukraine and Russia, which affected the cryptocurrency market. In recent weeks, the government has announced it is ready for sale following approval of local pension changes. Considering that this topic is so well arranged, why wouldn’t it be prudent to invest in it? The following four major reasons may have some insight. Incompatible Issuer Apparently, recent reports state that the government has announced that Leo, a l...