Warning: Constant WP_CACHE already defined in /home/swissapp/domains/swissapp.mobi/public_html/wp-config.php on line 4
Presenting BitINKA, South America's First Universal Bitcoin Platform : Swiss App Bitcoin Digitalcoin

Presenting BitINKA, South America’s First Universal Bitcoin Platform

south-american-bank

BitInka, a bitcoin platform that operates in Peru, Venezuela, Bolivia and Brazil will quickly expand its services throughout Argentina, Colombia and Chile, to become South America's first universal bitcoin platform targeted for the unbanked.

Established in 2013 by Roger Gabriel, BitINKA is among the only business in South America which carried out bitcoin trading to produce a bitcoin exchange that enables its users to convert/withdraw bitcoin for lots of local currencies of South America, consisting of the Peruvian Nueva Sol and the Argentinian peso.

Through its global and instant bitcoin exchange platform, the bitcoin startup intends to penetrate mainstream bitcoin adoption by carrying out bitcoin in daily financial resources and to offer a platform for users without any prior understanding about the currency.

Given that 2013, BitINKA has actually partnered with regional banks, financial institutions and local collector consisting of Banco de Crédito del Perú and Banco de Crédito de Bolivia to enable a fast and easy withdrawal procedures for its users. For some areas, BitINKA's bitcoin exchange and wallet platform will certainly be the very first bitcoin-related application to be introduced.

Targeting Mainstream Bitcoin Adoption and the Unbanked

According to the BitINKA group, the greatest market of South America is based upon everyday expenses, that includes e-commerce, corner store, taxis, booths (little shops), etc. Nevertheless, charge card penetration is substantially low in South American nations and hence, is typically not used apart from e-commerce platforms. Moreover, banks and financial institutions require a long list of documents and qualifications for bank accounts, and charge card consisting of two government approved licenses, tax earnings of at least two years, and monetary statements from a minimum of two different financial organizations.

Pierna Caballero, the co-administrator of BitINKA informed Bitcoin Publication “In some nations where Bitinka operates, people are informing themselves recently to make use of Bitcoin and they are recognizing that is something really simple as well as is a currency that people themselves control. In Peru for example this is something new and slowly has captured the general public interest, in Bolivia it is restricted Bitcoin as a payment approach, so Bitinka works as a virtual wallet for businesses and users affiliates.”

Bitcoin is extensively made use of in nations like Argentina, where reputable bitcoin payment processing start-ups and exchanges like BitPagos are based in. BitPagos is among the most popular bitcoin merchant payment platform which raised over US$ 600,000 in a financing round took part by Tim Draper and Barry Silbert. The start-up is currently near to processing US$ 1 million per month.

Nevertheless, bitcoin is still unknown to a a great deal of individuals in the continent. BitINKA aims to aid those not familiar with the benefits of the digital currency to easily accept, trade and get payments utilizing bitcoin.

Caballero explained, “Brazil is a country that already use Bitcoin in different ways, as a financial investment, savings, and so on in Peru simply a couple of people know Bitcoin, Peru is a nation where new things are harder to be accepted so exactly what we are finishing with Bitinka is assisting Bitcoin to integrate in people's lives.”

The post Presenting BitINKA, South America's First Universal Bitcoin Platform appeared initially on Bitcoin Magazine.


Bitcoin Magazine

Leave a Comment

Scroll to Top