Bitcoin Gains Positive Response in Latin America

News / 30.12.2019

Bitcoin is the most renowned cryptocurrency worldwide, and many people are adopting this coin daily. This digital coin is getting massive adoption, especially in areas with prevalent financial hardships. Latin America is experiencing a financial struggle, mostly in Venezuela and Argentina.

Venezuela and Argentina are facing high-end inflation, and hence the demand for Bitcoin is also high. The trading volume of Bitcoin in these regions is high; similarly, LocalBitcoin statistics also appear quite incredible.

Comparing Argentina and Venezuela’s Bitcoin Adoption

In both countries, the P2P trading volume raised; however, Venezuela got ahead of Argenta. This year, both countries have a steady increase in the volume of LocalBitcoins. The trading volume increments were only a matter of time, as Argentina’s financial status got critical.

Venezuela’s financial status is the same as Argentina, and domestic crypto, Petro, is not gaining any traction. Therefore, the two countries are highly likely to consider BTC adoption, hence increasing weekly P2P trading volume.

avatar
Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.