Bitcoin Paraguay is a non-profit community organisation dedicated to advancing Bitcoin adoption in Paraguay. Founded and run by volunteers based in several cities and regions of Paraguay, its main functions are to connect people interested in Bitcoin, exchange knowledge, increase adoption of the Bitcoin network, and foster local economic growth through circular economies across Paraguay.
The Asunción Times sat down for an exclusive interview with Jan Kotas, a Paraguayan resident originally from Czechia, to find out more about why he originally started Bitcoin Paraguay, what the community does to help local people and businesses, and why so many people are volunteering their time to help the community grow.
Jan was clear on the overarching objective of the community – to improve people’s lives.
“We believe that Bitcoin is a technology that can dramatically improve lives in Paraguay. Not only does it protect savings from inflation, it also provides a tool that any Paraguayan with a mobile phone and internet connection can use to transact value. In a country where many people lack access to banking services, and businesses face exorbitant fees from payment processors, this is a game-changer.”
As a relatively novel and nascent technology (despite now existing for over 15 years), Bitcoin is often described in many different ways by different people, which sometimes leads to confusion or misunderstanding by those who have not yet fully understood it – something that Bitcoin Paraguay is constantly working to address. Jan offers a simple explanation of what Bitcoin is.
“Bitcoin is independent, global money that transcends borders, credit scores, and other barriers that exclude people from the financial system. Bitcoin is here for everyone, and nobody can stop people from using it.”
Along with the market price of Bitcoin (at the time of publication), interest in, and enthusiasm for Bitcoin is close to all-time-highs across all of Latin America, with El Salvador famously making it legal tender over three years ago. Adoption of Bitcoin in Argentina has surged as the Argentine Peso has become almost worth less than the paper it’s printed on, and volunteer “Bitcoin Evangelists” such as Joe Nakamoto are showing the world what actually happens when people living in extremely low-income remote villages in Peru start using the Bitcoin network.
In addition to all being Latin American, it’s interesting to note that the three examples of increased Bitcoin adoption given above are driven by different reasons – three different sets of problems and opportunities, with a common solution that is lauded by those who have started using it – people who range from the very poorest of society, right up to a President of a nation.
Bitcoin Paraguay Sees Huge Potential Locally
Jan laid out several reasons why Paraguay was already in a unique position to become the leading nation in South America for Bitcoin adoption, which could in turn benefit Paraguayans of all situations.
“Firstly, Paraguay already has a high degree of personal freedom. Taxes are low, businesses are not subject to as many regulations as many other countries, and entrepreneurship is actively encouraged by the government. Paraguay is already attracting lots of digital nomads and expats because of the Paraguayan residency and tax laws – many of them already familiar with, and enthusiastic about, Bitcoin – and many of these newcomers are very willing and able to help others, as well as help grow the Paraguayan economy generally.”
“Secondly, Paraguay has abundant, cheap, clean, renewable electricity. It already produces far more energy than it uses, and is attracting investment from Bitcoin mining companies around the world. If Paraguay decided to harness just a fraction of this energy to mine Bitcoin for itself, it could use the Bitcoin earned to build substantial Bitcoin reserves, just like El Salvador is doing, which would ultimately lead to much stronger finances for the nation.”
“Thirdly, Paraguay’s culture already has strong community bonds at its core. Families and communities are often the top priorities, and the first place to turn to for help or information. When something is enthusiastically used by just a small number of people – such as Instagram when it first launched in Paraguay – word quickly spreads, and before you know it, everybody is using it. Bitcoin is on that trajectory globally – and Paraguay has a great chance of getting there faster than many other places.”
“Paraguay is also already used to dealing with multiple currencies, which is not so common everywhere in Latin America. Paraguayans are used to paying for some things in Guaranies, some things in US Dollars, and are used to checking exchange rates – so becoming familiar with Bitcoin as another currency option is fairly straightforward for anyone living in Paraguay.”
“One of the biggest opportunities for Paraguay is the large unbanked population – approximately 40% of Paraguayans don’t have access to banking facilities, and rely on cash for all their transactions. Some of the remaining 60% are even sharing one bank account between multiple family members. Bitcoin gives these individuals an opportunity to participate in the global financial system even without a traditional bank account. With the right infrastructure in place – such as Bitcoin ATMs, mobile wallets in the Guarani language, and local merchants accepting Bitcoin transfers as payment, Bitcoin would give millions of unbanked Paraguayans access to financial services and financial independence that they’ve never been able to experience before.”
“It would also massively help Paraguay’s efforts to boost tourism, with an ever-increasing number of people actively seeking out places where they can visit and spend Bitcoin locally – just look at the success that Bitcoin Beach in El Salvador has had since they started using Bitcoin. It now attracts tourists from all over the world, basically just because people can buy things with Bitcoin there. The same can be said for attracting Foreign Direct Investment in Bitcoin. It’s a huge opportunity for Paraguay.”
How the Bitcoin Paraguay community is bringing together different parts of the country
Bitcoin Paraguay currently consists of four semi-independent communities in different parts of Paraguay. The largest is located in the capital, Asunción, followed by the second-largest in Paraguay’s second city, Ciudad del Este. There are also two smaller community branches in Nueva Colombia and Encarnación. Each of them host regular events and meetups, which are always open and welcoming to newcomers, whether they are long-standing Bitcoin users, or simply interested in learning more about Bitcoin for the first time.
Jan said that as a network of communities, Bitcoin Paraguay is dedicated to empowering local community leaders to establish their own Bitcoin communities across Paraguay.
“We share our know-how, materials, and infrastructure with them. Additionally, we help increase their visibility, provide essential resources, and assist them in coordinating activities with other local communities. Over time, we hope to secure more funding from sponsors to cover our costs and provide adequate education to these local leaders, enabling them to further share their knowledge.”
In addition to the educational and economic benefits of increasing knowledge and usage of Bitcoin, Jan is clear on the role that being part of a community plays in people’s lives generally.
“Connections via a community strengthens all of us, facilitates knowledge sharing, and fosters a sense of belonging. This is why we invest so much time and energy in finding local leaders who can bring people together. I could discuss the community aspect for hours… it’s crucial.”
“The communities of Bitcoin Beach in El Salvador, and Bitcoin Jungle in Costa Rica, are a great inspiration for us, particularly in creating circular economies which benefit local businesses and entrepreneurs. We recently began collaborating with Blink Wallet, which was formerly known as the Bitcoin Beach Wallet, and was designed specifically to help local small businesses access the Bitcoin network via Lightning payments. We love this app because it was developed based on the real needs of individuals and small businesses, making it an ideal tool for our community members in Paraguay.”
How Bitcoin Paraguay helps local businesses
One of the things that Bitcoin Paraguay does to help local businesses, is give them exposure to an ever-increasing number of community members. In addition to promoting local businesses that accept Bitcoin via social media and online community chats, it also gives local businesses a chance to take the stage at Bitcoin Paraguay’s regular monthly meetups in Asunción. So far, a wide range of businesses have been featured.
“There are already many businesses in Paraguay which accept payments in Bitcoin, or the Bitcoin Lightning network. So far we’ve been able to promote local dentists, bottled water suppliers, construction companies, holiday resorts, and even Paraguay’s English-language newspaper! We are actively seeking out other local businesses who already accept Bitcoin as payment, and are encouraging other local businesses to start accepting Bitcoin. We will promote all of them, which is great for them, as well as being helpful for growing the Paraguayan economy generally.”
“This not only gives them the opportunity to attract more customers – we usually have around 100 prospective customers attending our monthly meetups in Asunción – but it also sends a strong signal to other merchants attending the Bitcoin meetups that accepting Bitcoin can be beneficial. Over time, we will continue to help promote their businesses to our community members, which we believe will inspire others to follow suit.”
Bitcoin Paraguay’s plans for the future
Despite only being founded earlier in 2024, and quickly growing to hundreds of members in four different locations across Paraguay, Jan and the team of community leaders at Bitcoin Paraguay have no plans to slow down their volunteer work.
“We have a few key goals for the short-term”, says Jan. “We want to expand our team of local leaders, so we can further scale our network. We would like to secure more funding, which will help us fuel our activities and future growth. We want to boost our social media presence, and most importantly, we want to increase involvement. All of us are volunteers, working on this in our free time, and there’s so much more we can achieve with additional hands. Thankfully, many Bitcoiners are coming to Paraguay, which is a huge help for us.”
As community leader for the Asunción chapter of Bitcoin Paraguay, Jan has some specific goals for the local community here in Paraguay’s capital city.
“We want to make our monthly Bitcoin meetups the best in the Bitcoin space – we’re already off to a great start, with about 100 attendees at each meetup (and we only started four months ago!). We believe that these meetups can help position Asunción as the Bitcoin capital of South America. We also want to increase liquidity in our local P2P market – the market is already solid, but boosting liquidity further would of course be helpful.”
“We also want to continue bringing in local businesses and entrepreneurs to the network – and help them grow their businesses, attract more customers, and make more sales. A big part of this is simply educating people with the basic information they need in order to start accepting Bitcoin. This helps onboard more merchants into the ecosystem, and helps them all increase their trade with each other, as well as with the wider community, which continues to grow at a rapid pace.”
How you can get involved with the Bitcoin Paraguay community
Whether you have been using Bitcoin for years, or have no idea what it is yet, there’s a place for you in the Bitcoin Paraguay community. Here are some of the options available to you:
Attend the monthly Bitcoin Paraguay meetups in Asunción
Open to everyone, the monthly meetups bring together people from all over the world who are interested in learning about Bitcoin and meeting other people. Held on the first Saturday of every month at a local bar and brewery, the meetups run from around 7pm to 10pm (although many people stay beyond that!), and are a mixture of networking, presentations, and knowledge-sharing. Details of the meetups are posted on The Asunción Times What’s On Guide, as well as Bitcoin Paraguay’s social media accounts – you can find them on Instagram, Twitter/X, and Nostr.
Volunteer your time and energy to help the Bitcoin Paraguay community
Would you like to help grow the network in Paraguay, help local businesses succeed, and help local individuals improve their lives? If so, a donation of your time and energy can have a positive impact on the lives of others. Whether you’re in the capital Asunción, or in a part of the country that doesn’t yet have an established community chapter, Bitcoin Paraguay would love to hear from you. The community leadership team speak a variety of languages between them, including English, Spanish, and Guarani, so just reach out! You can contact them via social media, or meet them in person at the monthly meetup in Asunción.
Encourage local businesses to join the Bitcoin Paraguay community
If you know local business owners and entrepreneurs, please let them know about the Bitcoin Paraguay community! If they are interested in growing their business and attracting more customers, the Bitcoin Paraguay community will help them do just that. Bitcoin Paraguay has also produced introduction leaflets, in Spanish, both printed and in soft-copy – so you can make a difference just by letting people know that Bitcoin Paraguay exists, and is there to help.
Find out more about Bitcoin Paraguay
For information in Spanish or English, visit https://bitcoinparaguay.org/
