Latin America to witness awareness of BTC via Paxful and AirTM partnership
Paxful and AirTM have come together to promote and create an awareness of Bitcoin in Latin America. Paxful is an peer-to-peer Bitcoin marketplace,while the latter is an peer-to-peer exchange platform and an e-wallet.
With both the entities teaming up, users can now trade in bitcoins through the Paxful platform and use the AirTM as a payment method, which is similar to PayPal and has excess to other payment platforms.
Their main aim for the awareness is to create a market of $6 million as a monthly transaction volumes, and also introduce BTC to 300,000 new users.
As per an announcement by Ray Youssef, CEO, Paxful, there has been a constant increase in the adoption of BTC. There has been a rapid growth of Bitcoin in Venezuela in a few months. Citizens of the country have been showing a lot more support towards a system that has no government hindrance and does not have a danger if inflation.
From all the Latin American countries, Venezuela has the highest issues when it comes to economic and monetary problems, which makes it the primary target for Paxful and AirTM. It is also the country which has witnessed the highest level of crypto adoption among the masses in the country.
With respect to the above context the CEO added:
“Venezuela’s inflation rate is projected to reach 10 million percent or more in 2019 and more Venezuelans are looking into crypto as an alternative currency. The growth is slow but steady.”
Ruben Galindo, CEO, AirTm said:
“They have a shared vision with Paxful, including the belief in the power of peer-to-peer finance to foster financial inclusion for the large numbers of unbanked in countries like Venezuela and Mexico.”
With respect to criticisms on bitcoin adoption among the masses Galindo said:
“Bitcoin may have its challenges from a user experience perspective, though for those who are underserved or completely shut out from the traditional financial system, it is a much more feasible alternative than what is currently available to them.”