Jump to content

Register Here for a Weekly News Update on Latin America


roadrunner

Recommended Posts

latam-768x432.jpg

Due to the unique traits it presents, Latin America has been a thriving region for cryptocurrency, as the technology aims to complement or even substitute traditional finance components that cannot be used in certain countries in the area.

Marked by the vast differences between its countries, grouping Brazil — one of the first economies of the world — and countries like Venezuela and Argentina, which face enormous economic challenges, Latam is home to two crypto use cases. The first presents its speculative side, while the second, grassroots-focused use case seeks to substitute payment channels in sanctioned countries, serving as a hedge against devaluation and inflation.

Bitcoin mining is also an emergent activity on the continent, with companies seeking to take advantage of the cheap power tariffs and ideal climates that countries like Paraguay and Argentina offer to incoming mining companies.

The region is home to El Salvador, the first country to adopt bitcoin as legal tender, which is now facing various challenges stemming from the emergence of this currency in a dollar-dominated economy.

Bitcoin.com News sends Latam news directly to readers’ email inboxes, helping them understand Latin American crypto events and developments by putting them in context of the economic reality of the region. Sign up for the Latam Insights weekly newsletter below.

Register your email here to get a weekly update on Latam news in your inbox:

 

 

View the full article

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...