In a recent statement, VISA’s senior product manager stated that they have observed an incredible increase in digital payments, especially since the Coronary virus pandemic in the Latin American region. The quarantine of a large part of the region has caused digital transactions both sent from and sent to the region to be digital, which can actually be quite positive for the cryptocurrency sector.
Latin America Transitions to Bitcoin
He even stated that in the statement of VISA, millions of Latin Americans may have switched to digital payments for the first time in their lives. People who cannot go to banks or prefer to go to quarantine because of quarantine can accumulate the transition to Bitcoin or other cryptocurrencies in the next stage.
Looking at the LocalBitcoins volume of various countries in Latin America, it is seen that the use of BTC has already experienced a serious increase. It is possible to say that the use of BTC and the volume of transactions have reached a new record, especially in countries such as Brazil, Argentina, Chile, Peru and Venezuela.
Increasing the share of Bitcoin in digital payments will enable it to be understood that it is superior to its counterparts in the traditional finance sector and will trigger the use of mainstream audiences. This means a new record in the long run.