Bitcoin

The introduction of cryptocurrencies in Mexico increased

The introduction of cryptocurrencies in Mexico has increased since 2018. In addition, Mexicans now have more opportunities to acquire them. This was reported by Mi Morelia on May 1st.

In the article published by Mi Morelia, they found that Mexicans have more channels for buying cryptocurrencies and the exchange volume of Mexican pesos for crypto assets continues to increase.

“In 2018, the Mexicans weren’t very interested in Bitcoin (BTC). In 2019, however, the interest of the country’s residents in the cryptocurrency increased, ”they said.

The introduction of cryptocurrencies in Mexico increased
The introduction of cryptocurrencies in Mexico increased

“This interest showed its fruits this year as the volume of Mexican Pesos (MXN) traded on the LocalBitcoins platform increased,” they added later.

On the other hand, the publication cited data from Coin Dance that Mexicans traded 40% more MXN in the week of April 20, 2020 than in the previous week. “A total of 10,400,511 MXNs were traded in exchange for Bitcoin, while the cryptocurrency traded on the platform by users in the country was 56 BTC,” they said.

In addition, they stressed that Mexico is one of the countries in the region with the highest number of Bitcoin ATMs. According to CoinATMRadar, there are a total of 11 cryptocurrency ATMs for 2020, mainly located in Mexico City and Culiacan. Other places in the country with these machines are Guadalajara, Monterrey, Querétaro and Tijuana, ”they said.

It should be noted that the introduction of cryptocurrencies in this country is not limited to Bitcoin: “In January this year, almost 11,000 BBVA and Banamex ATMs across the country were able to accept Bitcoin, Bitcoin Cash, Zach. Litecoin and Dash in exchange for bank deposits, ”they noted.

“Together with residents of Brazil and Argentina, Mexicans are most likely to buy cryptocurrencies such as Bitcoin or Ethereum, according to a report by the Center for the Governance of Change (CGC, whose acronym is English). 78% of Mexicans surveyed are ready to use Bitcoin and more than a fifth already own these or other cryptocurrencies, according to research published in February this year, “they said in Mi Morelia.

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