You know what bitcoin is. You know what you can buy with bitcoin in your country. Now we tell you why bitcoin should be part of your current life and why it will continue to be in the future.
1. It’s the local currency wherever you go
Bitcoin is as international as the American dollar. The word bitcoin today may sound more familiar to a Frenchman or a Korean than the Mexican peso itself. It is legal in a large majority of countries around the world, with the exception of countries like Russia and Iceland where although it is not banned, it is restricted by old regulations and Bolivia, Ecuador and Algeria where the ban is total.
It is a currency that has existed for 10 years and has a unique history. It has revolutionized the way we exchange and send money by removing intermediaries that become unnecessary in the face of the power of technology. It also allows us to be in total control of our money because their transactions are transparent and there is no other responsible than oneself when we send them.
In almost every region of the world there are exchanges or ways to convert them easily to local currency (for example localbitcoins), making it one of the most global currencies, highlighting that it does not occupy a physical space and you can travel with it anywhere.
2. The coin for everyone – even for people without access to financial products
The following applies to any country, but for now we consider only the opportunity for Mexicans.
According to World Bank figures, a little less than 40% of the population over the age of 15 in Mexico has an account in some financial institution or mobile financial service provider. We also know that 54% of Mexicans have an intelligent cell phone and Internet access through this medium.
As you may already know, you only need an Internet connection to have bitcoin or any other crypto currency. Thanks to this, all these Mexicans who do not have financial services can get involved in financial activities such as Internet purchases, send money abroad and / or use bitcoin as an investment mechanism.
3. It is the most viable option to send money abroad.
Sending money abroad, whether to the United States, Europe or even Japan, Korea or Australia, is more convenient and cheaper via bitcoin (or any other crypto). You can take a look at our small history of sending money abroad where we discuss and explain a case about how an international transfer can cost 3% to 20% on the amount sent versus 1% to 2% of the amount using crypts for sending money.
Mexico is the fourth country to receive remittances worldwide. Imagine all the money that Mexicans living abroad would stop spending when they send money to their family in Mexico! They would have more money to send, which would strengthen many families economically.
If your case is the opposite and you would like to send money from Mexico abroad either to pay someone for their service or product, to send money to your favorite artist for their piece of art or to be someone’s patron and you don’t want to do it through a crowdfunding platform, you can do it with crypto coins. You only need to have an account in Bitso and “anchor” it from your bank with SPEI or through OxxoPay from any Oxxo. You can change weights to bitcoins or XRPs and send them to another wallet immediately. Of course you can also save them and wait for their value to change. Definitely a row in the Oxxo passes faster than a row in the bank.
4. You can participate in crowdfunding projects and/or donations.
Crowdfunding is a quick way to obtain international financing in situations such as:
- Post-Catastrophe or War Donations
- Non-governmental organizations
- Private projects that need initial investment to be carried out
Doing this through bitcoin can simplify the whole process and its intermediaries (and commission agents) to just one, allowing the best use of the funds collected.
A perfect example is the massive collection of funds for donations is the one we had after the earthquake of September 19, 2017 in Mexico. The bitcoin account created in Bitso received donations from all over the world in this currency, which was then exchanged into Mexican pesos and given to the Red Cross. It would have been almost impossible for many donors around the world to support Mexico through traditional ways.
5. Invest with crypto / “Gateway” investment to projects
Those who like trading in Forex and/or derivative markets also come to do so in crypt markets. Bitcoin is the first step. The simplest markets (books) to operate in crypto currency exchanges are from fiduciary currency to crypto, MXN/BTC or MXN/MANA for example. However, the most common markets and in certain exchanges, those that have more liquidity, are those of bitcoin to other crypts, for example BTC/ETH or BTC/GNT. Exchanges such as Bitso, which allow anchoring with trust currency (Mexican pesos… soon many more) and later direct markets to crypts, are even limited. A large percentage of exchanges worldwide, allow only the transactions from crypto to crypto, being the bitcoin to crypto markets the most important.
In addition to buying crypto to expect variation in its value, multiple projects are seeking financing and allow you to acquire a stake through bitcoin. Similar to when a company is listed on the stock exchange to become a public company, projects and start-ups issue securities available for purchase through crypto or tokens of their own. Bitcoin is a currency widely used to invest directly in this type of projects.
6. Local acceptance of bitcoin as a payment method
According to PwC Mexico, 38% of retail companies in Mexico have analyzed receiving crypto coins as a form of payment. 33% of the same respondents already have developed a platform for this even though it is not in operation yet. If you are an artisan or sell a special product internationally we invite you to consider collecting with crypto. In this way you can eliminate intermediaries and make direct transactions 24/7 with your client operating at very low costs.
10 years since the birth of Bitcoin, and this is just beginning…
Bitcoin has changed the way we send, receive, collect and save money. It has also given birth to many projects that seek to revolutionize our financial ecosystem in the same way.
If we already know that this is the future, why wait? You can try from 100 pesos and learn how the technology that is changing the way we use and conceptualize money works. Unlike the traditional financial system, bitcoin and the criptomoney industry in general, is constantly evolving so we are discovering more and better ways to use them. Not only that, bitcoin is undoubtedly the most transparent money that has ever existed in history. Remember that all transactions are validated and publicly visible in a database distributed around the world called Blockchain, this allows you to review (audit) all the movements of your money in case of any problem with a payment.
Today it is already possible to be part of this future, try it and see you later.