While bitcoin is seen as a part of the global financial revolution, its acceptance and development still rely mostly on local adoption. Here are some ways in which mainstream acceptance is generated domestically and what else can be done to increase its scope.
For instance, Argentina is seeing a few localbitcoin exchanges in operation but is still facing the challenge of introducing digital currencies to a market that has dealt with several currency crises in the past. In the US and the UK, the main roadblock is the prospect of stricter regulation that could dampen industry growth.
Bitcoin Adoption Methods
One entry approach is the creation of a bitcoin exchange for the local market. This can allow users to buy and sell
bitcoin with their existing local currency, benefitting from the changes in value from time to time.
Face-to-face bitcoin trading is also an option, although this has been met with a lot of skepticism. After all, companies can’t guarantee trust in the opposite party, although a number of security features can be put in place.
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