Let's talk about the economic and financial cryptographic revolution in South American countries

Hello dear and appreciated readers, let this post serve to share with all of you the importance that in the context of the current crisis cryptocurrencies have in the battered economies in South American countries, this if we take into account that the great innovation that cryptocurrencies provide in some way to many South American countries the opportunity to develop a solid digital economy that at the same time allows them to become leaders in the cryptocurrency market.

As it is well known, or rather as revealed by the International Monetary Fund, South American countries exhibit developing economies, that since the arrival of progressive governments, so to speak, the cryptocurrency market began to present a digital revolution in the economic and financial aspects.

This plausible economic and financial revolution, presented by countries such as El Salvador, Venezuela, Argentina and even Colombia, made these states create regulatory mechanisms on the use of cryptocurrencies and blockchain technology, so that, now we have reliable platforms and markets available.

Namely, the Bitcoin main cryptocurrency by market capitalization enjoys an increasing acceptance in South America, but that operations to buy and sell it are often risky. In fact, Bitcoin may never go beyond being a niche currency in South American countries (especially in Venezuela).

However, in my country Venezuela there are many people and entities that are making money trading, investing and mining cryptocurrencies, which somehow attracts the attention of institutional investors in other South American countries.

Even cryptocurrency experts have stated that Venezuela is one of the main countries in South America where cryptocurrencies have taken off like wildfire, and has become the main trading market in the region.

Finally, and to close this post, a fact to keep in mind about the importance of cryptocurrencies in South America, is that the market for digital assets is in full growth and will continue to gain popularity so we are part of the massive adoption that is underway.

Chainalysis Latin America’s Key Crypto Adoption Drivers: Storing Value, Sending Remittances, and Seeking Alpha. Link

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