Bitcoin Cash is more adopted in Venezuela by businesses than Bitcoin
According to a comparison between maps for places that accept Bitcoin and its derivative Bitcoin Cash in Venezuela, stores and businesses that officially show their adoption to cryptocurrencies appear to be leaning more towards the fork of the original Nakamoto protocol.
360 places that accept Bitcoin Cash (BCH) shows the map.bitcoin.com data site where merchants can join to indicate their support for payment with Roger Ver’s cryptocurrency; as opposed to the original vision of Bitcoin (BTC) that is accepted in 323 places across the country, according to Coinmap and Opendatasoft. In the capital of the South American nation, Bitcoin Cash is welcomed by more places that accept BTC across the country, with 334 affiliated businesses.
The growing demand in cryptocurrencies in the country is going through an inflationary policy that has generated the purchasing loss of the common Venezuelan who now seeks to protect himself in cryptocurrencies to overcome personal finance problems.
While adoption has been gaining ground within the community, businesses have now been more aware of its application to try to resolve the exchange differences to which they are subject to economic distortion.
In addition, the boom in the number of commercial stores that are adopting Bitcoin Cash also involves the need to obtain fast and low-cost micropayments that boost the normal buying and selling process in stores, something that with Bitcoin is more difficult due to what Slow transactions and high fees associated with current payments.
However, judging by the volumes of Bitcoin on the P2P Localbitcoins trading platform, Venezuela continues to adopt the original cryptocurrency as the main reference in its inflation protection activities.
It is enough to observe in the exchange the diverse amount of offers in Venezuelan territory that go from surcharge of balances for mobile telephone services to sale of real estate, all payable with Bitcoin mainly.
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The Bitcoin Cash community is one of the busiest in the Latin American nation, from the launch of its EatBCH campaign in the midst of the food crisis for the purchase of food for vulnerable people in critical nutritional situations, until the last initiative in the country known as Bitcoin Cash House, a physical facility in western Venezuela that has the financing and sponsorship of Bitcoin.com and Sideshift.ai, provider of automated currency swaps.
The objective of these projects, according to Matt Aaron, manager of Bitcoin.com, has been to gain people’s confidence in adopting cryptocurrencies, as he pointed out last Friday in his Reddit account.
The case of Bitcoin Cash in Venezuela received new momentum last month when George Donnelly, who was instrumental in adopting the Dash cryptocurrency throughout Latin America, joined the cause.
Due to the change in Dash’s policy in the Latin American region to formalize his departure in the region, Donnelly has set out to fill the void left by the cryptocurrency focused on privacy through the adoption of BCH.
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