Many have opined that cryptocurrency could be a threat to fiat currency and it may not be very useful due to its high volatility. Nevertheless, Chile, has proved its solid economic growth and low inflation for over thirty years with its current trade volume.
It is reported that almost 300 million Chilean Peso worth Bitcoins have been traded by Chileans last week on LocalBitcoins.com. This clearly showcases a sharp increase in the Chilean over-the-counter BTC transactions since late 2016.
Apart from Chile, South America also shows a great sign of growth and a similar trend can be seen in every nation in the realm.
Evidently, point-of-sale (POS) crypto services are rapidly moving into Latin America, and PundiX is planning to install tens of thousands of its XPOS devices in South American stores, as well as Kappture and Cielo that are having great plans.
As a whole, the overall growth of crypto adoption in realms such as South America is proof positive that a notable shift is taking place in the global economy. The current record numbers of crypto adoption and transactions appear to be the tip of the iceberg as crypto becomes more available and user-friendly.
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