RATE Group | OTC Bitcoin Trading Volume Reaches $300 Million in Chile 
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OTC Bitcoin Trading Volume Reaches $300 Million in Chile 

15 Feb OTC Bitcoin Trading Volume Reaches $300 Million in Chile 

Posted at 20:35h in Bitcoin News by

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Chileans traded almost USD $300 million in Bitcoin over LocalBitcoins.com last week. This jump in over-the-counter trading points to greater shifts in the global economic status quo.

Mass Adoption Clearly Underway

The data shows a sharp increase in Chilean OTC Bitcoin transactions beginning in late 2016, and although volatile, demonstrates a sharp upward trend. The week ending on February 8th had by far the largest BTC trading volume. Given the overall crypto market recovery, it is reasonable to assume that this increase will continue.

Bitcoin has long been growing in popularity in South America, as economies in the realm have a long history of inflation and government graft. The data shows that Chile’s growing OTC market is far from unique. A similar trend can be seen in every nation in the realm.

South American centralized exchanges also are showing signs of growth. Fiat gateways such as Foxbit and Mercado Bitcoin are proliferating. Binance has recently moved into the realm…

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