ARGENTINES AND VENEZUELANS BUY BITCOINS IN MASSIVE WAY

The different crisis that these countries are going though have increase the buy/sell of bitcoin as a saving element.

The use of the cryptocurrencies has been fallin since beginning of the current year and the speculative bubble about his value at the end of last year. In a global nivel the trend is clear, but in the last months the south have started to push buy/sell of the bitcoin principally.

The goverments of Venezuela and Argentina, both countries have different type of financial crisis, they are watching how their citizens opt every month for exchange his local money for bitcoin in search of better conditions to save or as facility of exchange for other official coins.

This trend can bee see in the LocalBitcoin data, a finnish platform that allow to the users exchange bitcoin directly among them and they offert a daily tracing of the exchanges make from every country that they work.

In the last three months, the bitcoin price has remained stable around 6.500$. But for one venezuelan that exchanged his savings for bitcoin at beginning of july, would have see how his recent buyed bitcoin multiply his value for 4(In Bolivares), being able to endure the recent inflation. but someone in Argentina who did the same movement in the last 3 months got 40% in pesos.

Another advantage to exchange the local currency in bitcoin or other cryptocurrency is a greater facility to exchange for other currencies more stable skipping the possible restrictions in the future.