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Argentina is starting to make its Move in the Crypto-Space



Dec 21, 2020
Argentina is starting to make its Move in the Crypto-Space

When it comes to crypto-adoption, the two American continents seem to have chosen their sides. When it comes to North America, the continent is appearing to be somewhat reluctant and has preferred to stay rather aggressive towards it. Without a doubt, the top country in North America is the United States which seems to be the decision making for the entire continent.

However, when it comes to South America, the continent has turned out to be crypto-friendly and supportive of the crypto-industry. Despite being pressurized by the American sanctions and cruel decisions, Venezuela has still managed to survive through its economic downfall.

Just recently, the Government of Venezuela revealed that it is in the process of launching its digital currency. It is showing a lot of progress and development in the cryptocurrency adoption sector.

Following in the footsteps of Venezuela, another country from South America ‘Argentina’ has started picking up the pace with crypto-adoption. As per local sources, cryptocurrency adoption and expansion have started blooming in both the South American countries.

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A chief executive from one of the major cryptocurrency exchanges ‘Cryptobuyer’ in Venezuela made a very promising announcement. He stated that the utilization of Bitcoin (BTC) as a payment method is gaining huge adoption throughout the country. Although the CEO did not confirm the amount he stated that the Bitcoin (BTC) usage for payments is constantly increasing in the country.

The CEO of the exchange ‘Jorge Farias’ also talked about the importance of crypto-technology in the entire world. He stated that the entire world got to know the importance of cryptocurrencies when the pandemic hit the entire world. It was that time when financial institutions from all around the world realized the importance of having an alternative payment solution.

This was the time when the entire world realized how important it was to have remote and contactless payment solutions.

While Venezuela is constantly experiencing a surge in crypto-adoption and digital advancements, Argentina is also trying to find its place in the crypto-industry.

Just a few days back, the head of operations for Binance in the Latin American region talked about crypto-adoption in Argentina. He stated that in 2020, the amount of crypto-adoption in Argentina has experienced a 300% surge. He specified that the 300% surge that the exchange has observed is only for Bitcoin (BTC) investments.

He stated that the majority of the user-baseCoinbase has experienced from Argentina is more interested in Bitcoin (BTC) than any other crypto-asset. He stated that there is a very small group of people who are interested in investing in major altcoins. While summarizing his talk, he stated that overall, there is a large number of Argentinians that are now shifting to crypto-assets as a mode of savings.


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