BITCOIN TRANSACTIONS GROW IN BRAZIL

Updated: 09/10/2015 11:15
Reprints/Permissions  Hyip Monitor
bitcoin growth brazil
Mercado Bitcoin reports increasing trading operations in Brazil despite the negative image of cryptocurrency, which is more effective tool for moving
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Mercado Bitcoin reports increasing trading operations in Brazil despite the negative image of cryptocurrency, which is more effective tool for moving funds

According to the information from cryptocurrency exchange Mercado Bitcoin, the volumes of trading operations with Bitcoin in Brazil increased from $1.6 million to $2.6 million. So, the monthly increase makes around 158%.

Mercado Bitcoin processes in total $740 480 on Bitcoin trades, which makes 28% of the entire market. Such a growth of the trading operations with Bitcoin cryptocurrency occurred despite the negative image of cryptocurrencies in Brazil.

The growth of the trading activity and acceptance of Bitcoin in Brazil is possible connected with the fact, the majority of local residents are still not involved into banking services. Besides, it needs to be taken into consideration, the official Brazilian currency (real) constantly devalues. Fiscal measures, taken by the government limit the capital potential and decrease economic prospects.

Besides, the financial regulation in Brazil makes difficult for the currency to move out from the country. Bitcoin, in its turn, offers more options, as more economically effective tool for moving funds.

Let us remind, recently one of the biggest UK banks, Barclays, took the first steps aimed to support Bitcoin as an alternative currency for completing money transfers as a charity.


About the author

Charles Morris works as the Chief Editor of HYIPNews for 5 years. Before 2010 has been working as a freelance copywriter writing for online newspapers, blogs, magazines and online portals in the sphere of investment. Since 2010 has been accepted to the team of HYIPNews as a copywriter. Used to write exclusive materials for HYIPNews. Have shown great skills in managing day-to-day publications and since April 2011 has been appointed for the position of HYIPNews Chief Editor. Among the current duties the main ones is to oversee all of the authors' publication and ensure that each issue is released on time and in a professional manner. Apart from the position of Chief Editor, Charles Morris also takes the post of the Support Manager of HYIPNews.
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