The SimpleFX platform since its inception has encouraged users to trust the use of cryptocurrencies .
Thanks to surveys carried out in different countries, it was possible to demonstrate that digital currencies are used more frequently in the Spanish-speaking population. Therefore, SimpleFX now offers users in Latin America an update that allows them to make new payment methods to stimulate and promote the use of cryptocurrencies, generating greater accessibility and reliability when carrying out their transactions . These new payment features are widely recognized and enable active and manageable financing by simplifying trade.
These payment options vary according to the country, Brazil is the Latin American country with the highest percentage of cryptocurrency users. SimpleFX to expand the reach of the crypto market provides Brazilians with simple and fast payment methods so that when completing the purchase on the platform they can do so through Boleto Bancario, which is a secure payment method regulated by the Central Bank of Brazil and also has partnered with Loterías Caixa to make payments easily, quickly and safely by simply presenting the coupon at any store.
Another form of payment would be through bank transfers for holders with accounts at Banco Safra, Itaú, Santander, among others.
SPEI operates through a private and secure network that protects its users from fraud . It can also be operated through the OXXO commercial chain, where users will be able to make simple offline cash payments through coupons, just by presenting the coupon in one of the chain's 13,000 stores.
On the other hand, in Chile they will be able to make their payments quickly and reliably through the WebPay Plus System for Internet purchases with greater security, using debit and credit cards. Affiliated cards are Visa, MasterCard, among others.
SimpleFX in Colombia decided to integrate as an alternative payment method to Baloto , the online lottery through which the consumer can make cash payments through the coupon system, which can be shown at any of the 10,000 affiliated points in the country. There is also the Efecty payment platform so that users can make their payments in cash through coupons in the same way as Baloto.
BBVA Colombia and Bancolombia offer to complete the payment to users through bank transfers.
Western Union offers Peruvian citizens the possibility of making deposit requests to their SimpleFX accounts by paying in person at any of their points, through the website or by calling their customer service. There is also the possibility of making payments through bank transfers in different banks throughout the country.
SimpleFX is a CFD broker that is characterized by the simplicity of its platform to operate both with the forex market and with the most popular cryptocurrencies.
It has been operational since 2014 and has considerably increased its offer in recent years. It is based in San Vicente and Las Granada, and although it is not regulated by any financial institution, it maintains a high strict security protocol and anti-money laundering compliance that allows it to operate in much of Latin America.
Cryptocurrencies in Latin America
Latin American governments have been getting involved with cryptocurrencies , expanding the virtual currency market more and more. However, the panorama is different depending on where you are, which has led many brokers and exchanges to thoroughly study the legal reality of each nation, before offering concrete solutions to operate.
Countries like Ecuador and Bolivia are not yet familiar with this type of assets , instead the Government of Venezuela took a step regarding the use of cryptocurrencies in the midst of the crisis that the country is currently experiencing.
The Venezuelan token called Petro , was created to support the country's economy . backed by its reserves of natural resources such as oil, gold and gas. The direct sale process was active for fifteen days, being able to acquire with cryptocurrencies such as Bitcoin and Ethereum .
Further south, the Republic of Argentina is one of the countries with the largest movement of Bitcoins in Latin America , due to the number of members of the crypto ecosystem, giving it more and more momentum; Although it does not yet have legal recognition, the Argentine Government is working on it.
Due to the crisis that the country has been experiencing, Argentines have taken cryptocurrencies as a dollarized asset , increasingly distrusting the local currency (Argentine peso) due to its constant devaluation.
“We chose Argentina because there is impressive technical talent, but also because there is a very large cryptocurrency community, one of the most important globally. It is a really advanced market and we want to give it more institutionality. We believe that cryptocurrencies are equivalent to the invention of the Internet They are an Internet of things of value, “said Pablo González, Co-founder of Bitso.
Like Argentina, Chile is one of the countries with the greatest potential in cryptocurrencies and Blockchain , highlighting its strongest Fintech ecosystem in the constantly growing region; Despite this, the inhabitants of the South American country still have ignorance about Bitcoin and its technology, preventing the country from positioning itself as one of the main ones in cryptocurrency adoption.
Finance Minister Felipe Larraín told the press:
“A regulation of these platforms would mitigate some of these risks, such as money laundering and terrorist financing, and would increase the legal certainty with which they operate. We want to adequately safeguard the risks associated with this activity.”
Bolivia and Ecuador present their clear positions with respect to virtual currencies, being part of the countries that prohibit their trade ; central banks are unaware of any type of operations made with this type of currency, lacking legality in both countries.