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Referring to Venezuela, the post states, "Hyperinflation in the country has led the exchange volume of Bitcoin to rise considerably in the country. This also influences the volume in its neighboring country, Colombia. Besides Colombia and Venezuela, other economies that play a relevant role in the Latin American market are Argentina, Chile, and Brazil. For the best experience, top crypto news at your fingertips and exclusive features download now. News Technology.
By Jose Antonio Lanz 2 min read. Colombia and Venezuela. Image: Shutterstock. In brief Venezuela is LocalBitcoins' second-biggest market, while Colombia has jumped to the 3 spot. It seems Bitcoin checks all of the right boxes in this regard. At the same time, one has to keep in mind the future of cryptocurrency in the country remains unclear.
We have seen the local government crackdown on mining activities for some time now. Even though people are willingly buying and selling Bitcoin, the situation remains somewhat dire. Despite the odds, more and more people launch their cryptocurrency mining operation as we speak.
It is an interesting paradigm to keep an eye on, for obvious reasons. It will be interesting to see how the cryptocurrency situation in Venezuela evolves. After all, the government wants to get rid of this activity as soon as possible. In the end, the government will have to admit they cannot prevent cryptocurrencies from being used.
Nor can they tell people whether or not they can get their hands on Bitcoin. Rest assured we will see some more interesting reports coming out of this country in the future. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.
All Rights Reserved. Advertise Submit a Press Release. Home Cryptocurrency news Bitcoin. LocalBitcoins in Venezuela Continues to set new Trading by newsbtc. Play Now! Tags: bitcoin Bitcoin News localbitcoins Venezuela. Tweet Share. Related Posts. Premium Partners. Top Brokers. Top Casinos. Top Sportsbooks.