Latin America Cryptocurrency Adoption Could Blast Prices Higher
By Nicholas Say Latin America (LatAm) has a complex monetary history. Today it represents one of the biggest potential markets for cryptos. Venezuela made headlines when it became the first major nation to introduce a sovereign crypto, though the Venezuelan Petro probably isn’t going to be used for much anytime soon. The reason why the Petro is a non-starter is the same reason why LatAm crypto use is likely to rise. LatAm governments are notoriously corrupt and have a long history of abusing their national financial systems. Today there is more monetary trouble brewing in LatAm. Venezuela introduced the Petro as a part of a Remonetisation, and there is rampant inflation across LatAm especially in Argentina. Cryptos offer people everywhere an option when it comes to how they make payments and store value. Cryptos Make Sense in Latin America Most of the countries in LatAm already have two financial systems. The state financial system is difficult to use...