When looking at things from a broader perspective, there are quite a few digital currency initiatives in circulation already. Caricoin, a project that has not made any headlines outside of the Caribbean, has been pretty successful so far. This Bitcoin wallet solution tailored specifically to the needs of Caribbean users and enterprises helps push Bitcoin adoption n that part of the world to new heights.
What makes the Caricoin solution so appealing is how it can be set up by anyone who has a mobile phone number. Similar to other developing regions in the world, mobile devices are becoming more popular in the Caribbean. As a result, there is no barrier to entry to the Bitcoin world in this region.
Caricoin Is A Success In The Caribbean
Bitcoin solves many problems people in the Caribbean are dealing with on a daily basis. Sending and receiving money can be rather tricky, and expensive to boot. Sending a bank transfer, for example, is more expensive regarding travel fees compared to executing the transaction. That is, assuming the user even has a bank account, to begin with,
Caricoin takes care of all of these problems, by granting convenient access to the Bitcoin ecosystem. With no qualification requirements in place, anyone can use Bitcoin whenever they choose. Setting up an account takes mere seconds, and using cryptocurrency can be done anywhere in the world.
That does not necessarily mean people living in the Caribbean will flock to Bitcoin all of a sudden, though. If it were not for Caricoin, cryptocurrency adoption in the region would be all but nonexistent. However, the solution makes getting involved in Bitcoin easy and convenient. Moreover, there is a use case built into the wallet, as users can spend their Bitcoin balance on topping up their mobile prepaid minutes.
But there is more, as Caricoin allows users to pay for goods and services sold by thousands of online retailers. In-store purchases are certainly possible as well, even though few store owners have integrated the solution so far. For now, Caricoin is only available on Android, and the iOS app will be coming soon.
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