It has become crystal clear that Bitcoin can offer a viable alternative to bank-issued fiat currencies, especially in countries where tight capital controls are part of daily life. Brazil is one of the places where Bitcoin adoption really seems to be thriving and recent trade volume statistics paints a picture of a thousand words.
Bitcoin Trading Volume Nearly Doubling in One Quarter
Brazil is home to several Bitcoin exchanges, of which Mercado Bitcoin, Foxbit, BitcoinToYou and flowBTC are the best-known names in the business. LocalBitcoins is also available in the Brazil region but is attracting the third-lowest trading volume of all eight exchanges located on the chart provided by BitValor.
Similar to what we see on Bitcoin exchanges in the Western World, keeping trading fees as low as possible is a great way to attract new customers. Even though Mercado Bitcoin has the highest Bitcoin trade fee (1%), they are still the second player in the Brazilian Bitcoin exchange market. Most of this success can be attributed to a larger variety of deposit and withdrawal methods for fiat currency, compared to other Bitcoin exchanges.
Despite having so many