The inflation is one of the most frequent threats that threatens the economies of the countries of Latin America, making it impossible to positive savings of its citizens and devaluing their belongings. According to the International Monetary Fund the inflation rate in Venezuela closed 2016 with 720%, similar situations will occur in countries like Argentina and Brazil. Because of the growing recession, the heads of monetary policy in these countries are increasing taxes, imposing capital controls and tightening austerity measures.

It is by this that Bitcoin has become a choice of savings among his people, because their value is higher than the local currencies of each of these countries. One can observe the acceptance of these citizens to see and hear their views on the cryptocurrency. There are many groups that possess Facebook thousands of members, making this platform grow in popularity throughout the region.

Because of this fragility in the economy of Latin America its residents have adopted the cryptocurrency to somehow curb its economic problems, such as the BTC is 92% better than the Brazilian real and 400% better than the Venezuelan Bolivar. This tells his people that there is a better alternative, according BItPay shows a growth of 510% in commercial transactions Bitcoin in three countries of the continent.

Citizens have taken into account the benefits offered by cryptocurrency, including who can save lot of money in remittances, increased savings in general and provides more efficient payment methods and of course a different way of having money. In addition to this it provides companies with a way to pay their employees.

It is estimated that in a couple of bitcoin years finish position in Latin America, however there are several limitations that owns the cryptocurrency, for example, in 2014 the Central Bank of Bolivia issued a resolution prohibiting the use of any other currency other than is the official or legal issued by the US government. Ecuador has likewise adopted this measure, bet on creating their own digital currency that could help strengthen its banking system.

Despite all these obstacles Bitcoin has been established and positioning itself as one of the forms of savings and payments, among other benefits, among Latin Americans.

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Source: news.bitcoin

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