Latin American countries exchange more local currency for BTC at LocalBitcoins | CryptoNews



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Latin American local currency movements through LocalBitcoins have grown in recent weeks, in line with the increase in BTC's market price, which went from US $ 4,130 in early April to US $ 5,203 at the time of writing this note

In the CoinDance data, it can be observed that most Latin American countries maintain pace in April which predicts increase compared to the previous month, in relation to the amount of local currency used in the P2P site.

One of the most notable cases is the Colombian. Last week, the neo-Granadian nation registered a historical exchange rate in local currency when it exceeded 9,000,000 pesos, and mobilized 650 BTC, 110 less than its historical maximum. In turn, Chile reached its peak of 243,000,000 pesos, while the 73 BTCs traded represent almost half of its peak, of 143 in 2015.

Argentina traded more than 29,000,000 pesos in April, while in March the total was 35,000,000 pesos. So far, in April, about 139 BTCs were exchanged from Argentina. In the previous month, the total was 198 BTC.

Another case of a large increase, such as that of Venezuela, does not correspond to an increase in the volume of BTC mobilized. Just this week, more than 31,000,000 bolivars were moved through the portal (5,000,000 more than the previous week), although the BTC volume is still below the 1,596 BTC recorded last week.

In the Caribbean country, precisely, there was a sudden increase of the official dollar and the parallel. The rate established by the Venezuelan government went from 3,300 Bs. To 4,100 according to the last auction, while in the parallel market it surpassed Bs. 5,000. This explains the increase in traded bolivars, despite a smaller volume in the BTC.

However, other countries with more stable currencies also reported higher exchange rates in local currency through the P2P site so far this month. Mexico moved from 92 BTC last week to 106 so far this week. This translates into an increase from 8,600,944 Mexican pesos to 10,766,731 pesos.

Another example is the Dominican Republic, where, between the last two weeks, about 13,000,000 pesos were mobilized, up from 11,000,000 that were transferred during the previous two weeks. In both periods, the amount of BTCs traded was very similar: 55 and 51 BTC, respectively.

In Brazil, almost 200 BTCs were traded in the last two weeks, a number very similar to the previous two weeks. Although there is an increase in reais between these periods. During the first, 3,000,000 were not moved, but in the last two, more than 3,600,000 reais were traded.

Among the cases with falling exchange rates, Peru stands out. During this week, Peruvians traded 162 BTCs, while last week they were 219. This represents a drop in local currency also, from almost 3,500,000 soles to 2,767,584.

The month of March showed a general decline in exchange through LocalBitcoins in the Latin American region. Especially as a result of the electricity cuts in Venezuela and its consequent reduction of more than 2,000 BTC in relation to February.

Featured image by Vitoria Holdings LLC / stock.adobe.com

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