Bitcoin in South America: Why Venezuela Has an Active Bitcoin Mining Community

Trading volume on peer-to-peer exchanges broke another all-time high in most of South America, Russia, and even in the U.S. South America Following Venezuela. According to recent stats, Bitcoin continues to gain popularity presenting itself as a way out from accentuated inflation, demonetization policies and general economic and political uncertainty in troubled countries. Besides Russia (as usual), LocalBitcoins has registered another record week across South America. Countries including Chile, Venezuela, Colombia, and Brazil are all seeing record high trading volumes in their respective....

President Nicolas Maduro stated that Venezuela was a pioneer in cryptocurrency adoption in Latam in an interview with Bloomberg last week. Venezuela is still one of the first cryptocurrency volume movers in South America. However, the petro token, its official cryptocurrency, has failed to pick up steam in national and international markets. President Nicolas Maduro Reaffirms Venezuelan Pioneer Status in the Cryptocurrency Field Venezuelan President Nicolas Maduro reaffirmed the pioneer action that Venezuela had on crypto adoption in Latam. The statements were given during an interview....

BitInka, a bitcoin platform that operates in Peru, Venezuela, Bolivia and Brazil will soon expand its services throughout Argentina, Colombia and Chile, to become South America's first universal bitcoin platform targeted for the unbanked. Founded in 2013 by Roger Gabriel, BitINKA is one of the only companies in South America which implemented bitcoin trading to create a bitcoin exchange that allows its users to convert/withdraw bitcoin for many local currencies of South America, including the Peruvian Nueva Sol and the Argentinian peso. Through its international and instant bitcoin....

Reports say Venezuela has now legalized bitcoin mining following the decree recently issued by the National Superintendency of Crypto Assets and Related Activities (Sunacrip). As part of the new regulations, all entities and individuals interested in legally mining bitcoin and other cryptocurrencies must now apply for a license from the agency. According to a report, the decree will result in the creation of a National Digital Mining Pool (NDMP), a body that “seeks to bring together all the miners operating on the Venezuelan territory.” Meanwhile, the decree document, which....

A new museum dedicated to the history of bitcoin mining opened its doors in Venezuela last weekend. The institution will allow visitors to learn about the history of cryptocurrency mining, going from its roots to the current state of the mining industry. The museum is part of a private initiative started by Criptoavila, a mining-dedicated company. Museum of Bitcoin Mining History Debuts in Venezuela A newly created Museum of Bitcoin Mining History opened its doors to the public in Venezuela last weekend. The new initiative pushed by Criptoavila, a private company whose members have nine....