- Industry players claim that the use of crypto has increased in Venezuela and Argentina this year. In Venezuela, the CEO of Cryptobuyer, one of the most active crypto exchanges in the country, claimed that Bitcoin (BTC) payments made in the country double every month.Coronavirus outbreak changed things in the industry
Speaking with Criptonoticias in an interview, Cryptobuyer President Jorge Farías said:
The coronavirus outbreak has made it more necessary than ever to develop an alternative payment system, including contactless and remote payment solutions.
The stock market boss claimed that his firm had a hiring spree to cope with the increase in crypto payment demand and that its staff size “doubled not only at the development level, but also in the technical support and customer service departments.”
Pizza Hut also started accepting cryptocurrencies
The claim comes after a buffer year for the exchange, which has signed a series of crypto payment deals with some of the country’s largest retailers and service providers. The firm offers a point-of-sale solution that allows traders to accept payments with Bitcoin and a range of altcoins.
The most recent deal was with the Venezuelan hotel chain Hoteles Sunsol, which signed last week to accept crypto payment through the exchange’s payment gateway. Late last month, significant developments are taking place after all Pizza Hut outlets in the country announced that they will also use Cryptobuyer solutions.
Year of BTC in Argentina
Meanwhile, just beyond the continent, the number of BTC investors in Argentina has increased by 300% in 2020. This data was provided by Maximiliano Hinz, Binance’s head of operations for Latin America.
Speaking to media outlet Télam, Hinz said that investors turning to crypto overwhelmingly chose Bitcoin or a small group of large altcoins. However, he added that this year, thousands of Argentinians turned to crypto as a “savings option”.
However, Paxful’s Latin American management consultant Magdiela Rivas told the same media outlet that “the main interest in Argentina” is stable money. Because many of them are turning to “unlimited digital dollarization” in the country where dollar purchases are limited.