How Cryptocurrency Is Helping The Economy In South America 

How Cryptocurrency Is Helping The Economy In South America 
Cryptocurrency Is Helping The Economy In South America 

Digital Finance has become the most popular alternative to real-world currencies as these are tied to weak economies and depend on the stability of governments. However, certain Latin American and Caribbean countries are ahead of the rest of the world in the adoption of cryptocurrencies.

Understand The Revolution

Cryptocurrency exploded in Latin America and citizens are already seeing the benefits of adhering to digital currency. These economies experienced an increase of 1,370 percent between 2019 and 2021. Notably, El Salvador and Argentina are leading the revolution. 

El Salvador became the first country to adhere to a cryptocurrency with Bitcoin (BTC) alongside the national currency, the U.S. dollar – which proved to be successful and began a trend for these economies. 

Just eight months after adopting crypto as an official currency, El Salvador has promoted the initiative to 44 other countries and invited them to discuss its benefits of it. The country’s President Nayib Bukele has confirmed the launch of bitcoin-backed bonds to raise $1 Billion for the economy.

Similarly, Argentina is the country with the 6th largest crypto adoption rate; it is estimated that 21% of Argentines invested in crypto. The Argentinian economy has made crypto appealing due to a 58% inflation and short access to the US Dollar.  

Local banks are also pushing forward this crypto revolution. For example, the largest private bank by market value, Banco Galicia (GGAL) has added cryptocurrencies to its platform and investors can now acquire Bitcoin (BTC), Ether (ETH), USDC, and XRP. According to Chainalysis, citizens have earned $1.86 billion in cryptocurrency just last year.

The Uses Of CryptoCurrency

Ethereum (ETH)

Bitcoin has long been leading the way for crypto investments but Ethereum is just as popular among big and small investors.

The governance token of Ethereum is Ether (ETH), which is the second most famous cryptocurrency after Bitcoin (BTC) by market capitalization. As such, these two are frequently compared.

Ethereum is the biggest and most well-established, open-ended decentralized (DeFi) software platform and allows for the deployment of decentralized applications (dApps) and smart contracts, without being controlled by third-party intermediaries, unlike real-world currencies.

Despite the Bitcoin (BTC) hype, Ethereum is the favorite of many investors and has seen plenty of success. It has been up by more than  115,000% and was created in 2015.

The truth is that both Ethereum and Bitcoin are valued investments with differing qualities. Ethereum is valued as a network that can create, while Bitcoin’s value derives from what its network can protect.

Logarithmic Finance (LOG)

Logarithmic Finance

Logarithmic Finance (LOG) is a recent addition to the crypto market and is currently in its presale stage which is your best opportunity to invest in this cryptocurrency for a premium price. The crypto is to become the next-generation Decentralised Finance and swapping protocol.

The platform is secure and non-custodial with cross-chain features but Logarithmic Finance is also versatile and has many dynamic opportunities to raise funds on any given blockchain network. 

The creators behind the project affirm that Logarithmic Finance was carefully designed and constructed in a way that promotes seamless connectivity between innovators and beginner investors.

Being a multi-chain platform, Logarithmic Finance works on major blockchain networks. These are Solana (SOL), Polygon (MATIC), Ethereum (ETH), Avalanche (AVAX), and plenty more.

Logarithmic Finance’s governance and utility token is LOG and leverages the ERC-20 token standard. More so, token holders can become eligible for a wide range of benefits such as self-governance and voting rights.

There are plenty of digital investments you can acquire with Logarithmic FinanceThese include, for example, an advanced NFT platform and since the start of its presale, the token has gained a more than 44% increase in price value.

Join Logarithmic Finance’s Presale:

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