LocalBitcoin.com Of Chile Hits New High Of $300 Million In Bitcoin Trading Volume

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • LocalBitcoins.com has seen an increase in over-the-counter trading signals a major change in the state of the global economy.
  • Binance has also entered South American countries with the new integration of Latamex.
  • The reason for inflation and government corruption in the economic sector has made Bitcoin more popular in South America for a long time.

The previous week has embarked a new high of $300 Million in trading volume for Bitcoin traders in Chile on the exchange platform LocalBitcoins.com. LocalBitcoins.com has seen an increase in over-the-counter trading signals a major change in the state of the global economy.

Since the end of the year, 2016 calculated data shows that Chile’s OTC Bitcoin transactions have risen steeply amidst the fluctuations. The increased numbers in data show mass adoption and have marked the highest on the February second week.

The comeback of the crypto market is very high after its recovery from the pullback. The market watchers strongly believe that the growth will continue.

The reason for inflation and government corruption in the economic sector has made Bitcoin more popular in South America for a long time. The same data was found common in the majority of countries around the world.

Binance has also entered South American countries with the new integration of Latamex, the local exchange platforms such as Foxbit and Mercado Bitcoin are also flourishing in the regions in the bull rally and majority adoption.

Cryptocurrencies and digital assets are the go-to help when one’s nation faces an economic crisis. The Venezuelan natives were buying more and number of cryptocurrency and backed assets, and the crypto coins are becoming more popular among the underdeveloped nations in which the people aim in saving their investments in terms of Bitcoin and other altcoins.

Cryptocurrency is equally popular in developed countries where people use it to make returns on a daily or monthly basis. Chile has now experienced stable economic growth from the past three years.

The rural South American population has no bank accounts and in turn, to crypto-assets to save their investments. The global adoption of cryptocurrencies is expected to rise more in this decade.

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