Is the adoption of cryptocurrency fading in Latin America?
Hello dear readers, I would like to take this opportunity to share some thoughts about the decision recently taken by the people of the Localbitcoins platform to close its cryptocurrency operations, a fact that may go unnoticed but that for Latin Americans represents a hard blow since this platform somehow strengthened operations in these countries.
The truth is that, this Thursday, the fact that the LocalBitcoins platform announced its immediate cessation of operations was news throughout the crypto ecosystem space, said announcement brought with it diverse opinions from referents in the ecosystem.
In the case of Venezuela, Anibal Garrido, cryptoassets advisor in this Latin American country with many years of experience in the industry, shared his impressions on the cessation of operations of LocalBitcoins, Garrido said that the closure of the aforementioned platform can have multiple interpretations from the reasons that generated it.
However, in Garrido's opinion, the platform did not know how to reinvent itself, nor maintain sustained marketing strategies to avoid the migration of its users to other platforms with more features.
Garrido also shared with Cointelegraph and contrasted the current times with the beginnings of LocalBitcoins, and mentioned that unlike then, now in the present they did not know how to take advantage of the context to show off their site in the now much larger market.
From my perspective I believe that the cessation of LocalBitcoins operations will undoubtedly mean a major setback for users, but that would not imply that adoption will fade away in the Latin American region.
SOURCES CONSULTED
Cointelegraph Learn about the causes of Localbitcoins' closure and why it was an important player in the adoption of Bitcoin in Venezuela and Latin America. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating the public domain image background: Cointelegraph
Everything you said is really important to know and when it comes to adoption then sooner or later it is going to happen. Adoption is happening but I am talking about mass adoption. Thank for the valuable information.
Hi @luckyali.writes
I agree with you sooner or later we will see that big push and mass adoption will happen.
Best regards, be well.
I also read LocalBitcoins is shutting down but the reason was not mentioned. Maybe they are unable to capture their users on the platfomr due to some more easy platforms.
Hi @chasad75
That's right they have not mentioned when it will happen, they only indicate that users will have one year to move their resources.
Best regards, be well.
Hola my friend, no doubt that the cessation of operations of LocalBitcoins can be a big setback for users in Latin America, but as you say, in these countries the adoption of cryptocurrencies has been too big and important for it to fade away.
Hi @emiliomoron
I also believe the same thing this closure may develop a big setback for Latin American users.
Best regards, be well.