Bitcoin is a currency that is growing rapidly worldwide. It has been on the market for 10 years; however, little by little it has been making its way into local markets, as is the case in Guatemala.
In Guatemala, there is still no law or entity that regulates the use of cryptocurrencies. That is why, for purposes of commercial use, cryptocurrencies could be associated with forms of money, goods or merchandise. The uses that may occur when generating transactions with Bitcoins fall within the uses foreseen for any type of currency that has circulation within the country.
There are certain limitations regarding investing in Bitcoin, and that is that there are not many local options to trade with the cryptocurrency. Guatemala City is where we find the majority of businesses that accept Bitcoin as a payment method, most of which are hotel chains. Antigua Guatemala also offers alternatives to trade with Bitcoin, opening opportunities for the tourism sector.
Private universities such as the Francisco Marroquín University are entering the Bitcoin market and, since 2013, are open to receiving donations through BTC. so same, according to the site Coinmap.org, only There are 14 registered businesses that accept virtual currency as a method of exchange nationwide. so as a single ATM where you can make transactions with crypto currencies, the latter operated by the company GeneralBytes.
However, given the historical growth that Bitcoin had, more people are joining in trusting cryptocurrencies as the asset of the future, opening more opportunities for the market to trade with them. .
There are several exchange platforms within the country. Among them, we are Coincaex, a leading crypto asset trading company in Central America, with more than 5 years of experience in the market, personalized attention and the best cost-benefit ratio. .
Blockchain has also arrived in Guatemala
Not only Bitcoin is Blockchain technology is also making its way into the Guatemalan market. managing to position itself as a technology that will allow develop better opportunities for the financial sector.
In 2019, he took home out the Producer & Roaster Forum, where the coffee sector was able to discuss and experience how the product would be marketed through Blockchain, allowing 70 buyers to interact and participate in an auction to learn about the benefits of eliminating intermediaries at the same time. time to trade. Achieving higher profitability in profit margins.