VIVA BITCOIN! BITCOIN’S POPULARITY SURGING IN MEXICO

Originally appeared on MexResorts
Bitcoin, the new decentralized digital currency making waves throughout finance, has been a hit even in Mexico.
Bitcoin has been adopted by Mexican citizens as a way of improving their life and conditions in one of the fastest growing economies on the planet. Unlike in other Latin American countries, like Argentina, where Bitcoin has been adopted mostly amid collapse of the Argentine Peso, Mexicans have been able to adopt Bitcoin under conditions of relative stability and even growth.
The strength of Bitcoin’s growth in Mexico is made clear by recent developments in the country. For one, The Bitcoin Foundation added its latest affiliate chapter in the country. This moment was validating for the growing Bitcoin ecosystem in Mexico, and will ensure greater awareness of Bitcoin and its benefits among consumers, media outlets and regulators.
‘We want to start working with the government and financial institutions to get more knowledge in Mexico and stop the fear surrounding bitcoin. That starts by getting involved so people start getting real information,’ Lucia Cangas, marketing and communications director for the Bitcoin Foundation Mexico chapter, said.
The growth of Bitcoin in Mexico has been quick. As Pablo Gonzalez, CEO and director general at Mexico-based bitcoin exchange Bitso, described in 2014: ‘The Mexican bitcoin community was extremely small and quiet a year ago, especially when you compare it with the likes of Canada and Argentina. Mexico was behind in bitcoin adoption.’
Tomas Alvarez, CEO of Mexico-based bitcoin remittance startup Coincove, illustrates the local ecosystem of today: ‘Six months ago, there was almost nothing happening in the bitcoin scene, now there are regular meetups taking place in the main cities, bitcoin services popping up on a regular basis and, most importantly, bitcoin is being mentioned in schools and offices.’

This post was published at Dollar Vigilante on APril 5, 2015.