Cryptocurrency mass adoption starts as more countries embrace this medium of exchange

2021 has been such an amazing year for cryptocurrency. It gained so much recognition and influenced all business types to engage in blockchain from financial institutions, malls, to the entertainment industry. With that, more people are seeing how beneficial cryptocurrency is and are investing in the platform. Thus, mass adoption has started.

South American countries have started to use cryptocurrency as one of their accepted currencies. For instance, Rio de Janeiro’s Mayor Eduardo Paes recently announced his pledge to use 1% of the city’s treasury to invest in cryptocurrency. In addition, he even promotes the use of Bitcoin to pay taxes. He mentioned that taxpayers who pay using Bitcoin will receive additional discounts.

With these fantastic innovations, cryptocurrency is slowly becoming widely used in South America.

Uruguay adopts cryptocurrency

According to Cointelegraph, Uruguay installed its first Bitcoin (BTC) ATM, making it the 11th South American country to publicly promote cryptocurrency use. South America had 79 ATMs prior to Uruguay’s involvement, accounting for 0.2 percent of global BTC ATM installations.

The machine was installed in the coastal city of Punta Del Este, one of the country’s major tourist attractions. Uruguay’s first Bitcoin ATM was created and implemented in collaboration with two local cryptocurrency firms, URUBit and inBierto.

The ATM supports the withdrawal of various cryptocurrencies such as BTC, Binance Coin (BNB), Binance USD (BUSD) Ferret Token (FRT), and UruBit (URUB).

Senator Juan Satori mentioned that they are not using cryptocurrency as its legal tender. Instead, they are promoting a legitimate, legal, and safe use of digital assets in the country.

This incredible news, along with all the other countries’ announcements of cryptocurrency involvement, simply confirms that the world is gradually adopting cryptocurrency.

ICYMI: Ask the Orb: What are crypto debit cards, and how do they work?

As the world gradually embraces cryptocurrency, why is early adoption crucial?

Though it is not a requirement to be an early adopter of cryptocurrency, we still see it as an advantage for mass adoption in the future. Utilizing the platform during its early days would give you the opportunity to enjoy the remarkable IDOs/ ICOs. The platform also offers amazing promos during their early days to entice more investors.

In addition, platforms coin prices are usually pegged at an affordable rate, meaning you can earn more once the token spikes.

Platform development is always present. This is to ensure that the security remains invulnerable. By upgrading the platform, early users usually receive more benefits during the upgrade. These benefits could be lower swapping fees, swapping fee discounts, and more. With that, investing early in a new platform could be beneficial.

However, there are still disadvantages whenever you invest early in a platform. These disadvantages range from lack of audits, possible scams, the probability of a significant dip, and more. However, if you properly examine the platform, the possibility of you losing all your investment is lower. Remember that earning from a platform also requires proper knowledge.

Furthermore,

PrivacySwap is a platform that aims to bring their early investors until they migrate to their very last version. And that is happening right now, PrivacySwap will soon become its own DEX. With that, PrivacySwap aims to deliver an amazing return to its early investors. They want to ensure that all PRV2 and PRVG holders have enough time and allocation to swap their tokens to their PYDEX at the lowest fee possible.

In addition to that, PrivacySwap also wants to stand out as and be the first-ever DEX that has its debit card powered by web3.

With all these features, PrivacySwap will surely bring a fantastic crypto space to both old and new crypto investors.

Engage with them now.

| Website | Telegram | Telegram Announcements |

| Medium | Twitter | YouTube | Gitbook | Blog|

--

--

--

Be a part of PrivacySwap, be a part of a better DeFi.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Has Cardano Hit it’s Bottom?

Stablecoins: Collateralization Types

Over-Collateralized Stablecoins: A More Than Ever Safe Haven?

The Future of Bitcoin: Schnorr Signatures, Key Aggregation & Interactive Aggregate Signatures

Evenly Distributing a Future of Abundance — Flux “Proof of Impact”

Crypto.com (CRO) in focus, best exchange token or left behind?

SCALLOP STAKING PROGRAM

IDEA: The Crypto to Chase in 2021

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
PrivacySwap

PrivacySwap

Be a part of PrivacySwap, be a part of a better DeFi.

More from Medium

Ask the Orb: What are the cryptocurrency slangs we should remember?

MoonForce — The Revolution of Crypto

Decentralized Exchange (DEX): The Doorway to Crypto Investment

Stablecoins collateralized by Cryptocurrencies