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Check out the new service for buying and selling Cryptocurrencies in Mercado Pago!

Last Thursday (12/02), Mercado Livre announced that its digital financial services platform, Mercado Pago, took a step towards the future of the cryptocurrency economy.

The tool made available will allow users to buy and sell cryptocurrencies. It is evident that Mercado Livre believes in this future, since it has already invested BRL 7.8 million in Bitcoins. In addition, the company has teamed up with Paxos, which is a financial company for buying and selling cryptocurrencies.

Even so, the simple matter of buying and selling cryptocurrencies is still a source of confusion for the majority of the Brazilian population.

What this article covers:

What are Cryptocurrencies?

Cryptocurrencies are a kind of money, whose transactions involving it are all carried out in the digital environment, whether buying or selling. But what really catches your attention is the fact that it is a decentralized currency, that is, without any ties to the government, no country in the world has power over cryptocurrency.

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This is only possible through the blockchain, which is a technology for protecting transactions made in cryptocurrency. Financial transaction records and data are hidden thanks to the blockchain.

How will this new Cryptocurrency buying and selling service work?

The tool provided by Mercado Pago will cover three services in relation to investments of this nature: purchase and sale of cryptocurrencies, as well as their storage.

For now, the service has not been released to everyone, but it will soon be. In addition, it will be possible to make investments from R$1.00.

Are cryptocurrencies worth it?

In addition to the blockchain system, which protects information concerning investors, as well as their operations, buying and selling cryptocurrencies is an investment that reflects on traditional money earnings.

It is possible to convert the amounts in Bitcoin, a cryptocurrency, to real or dollar. In addition, the purchase of products or services with this type of digital currency is already a reality.

types of cryptocurrencies

It is common for most people to confuse the part for the whole, that is, to think that Bitcoin, the best known, accounts for the entire cryptocurrency scenario. Only Mercado Pago will, in principle, operate with three different cryptocurrencies, two of which are the most used in the current market.

Bitcoin (BTC)

The most famous and most circulated cryptocurrency in the world. People have been buying and selling cryptocurrency with BTC since 2009. Satoshi Nakamoto, who is not the real name of the first known user of bitcoin, intended to solidify a currency that was not pegged to the government. The idea was a circulation in parallel with the traditional currency.

Ethereum (ETH)

This is the second most circulating cryptocurrency currently. It differs from Bitcoin by value and capitalization, but is considered by specialists as an investment alternative.

Despite the confusion and mistrust around the topic of buying and selling cryptocurrencies, it is increasingly evident how relevant these currencies become for the market, the economy and, in the future, people’s lives. It is no coincidence that Mercado Pago has chosen to take the lead in offering services to banking companies in Brazil.

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