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Mexico and Bitcoins

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Bitcoin, as a relatively new concept, has not yet reached all countries in the world. Even if in Mexico, bitcoins don't have a large presence, they do exist and are used. There exists a platform called Bitso, a mexican platform that allows people to exchange their money into bitcoins, and vice-versa. It is the first mexican platform that allows for bitcoins as a currency for buying or investing in the market. What is great about bitcoins, which may help the country’s development, is that there are no fees included when doing a transaction through these kinds of portals. Therefore, as Mexican banks have very high fees, it is hard for people to invest or ask for money from a bank; having bitcoins would develop the sense of investment of the Mexican population. This would help local businesses to grow bigger. Bitso left the beta state a couple of months ago, and now they can give more rewards to continuous trader, as well as to current and future users. Bitcoins haven't had very much publicity in the country, and therefore they haven't made a great impact on society yet. Nevertheless, with the help of current media and social networks, it is likely that Bitcoin will have a great impact on society in a short period of time, digitally, and perhaps even physically. The big change due to bitcoins is yet to be seen and felt.

by Wendy T.

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