Mercado Livre has decided to expand its offers for buying and selling Bitcoin to Brazilians. For those who use the digital wallet on the platform, trading with crypto assets will now also be possible. This novelty is expected to enter the platform in the coming weeks of the month.
What this article covers:
How will the buying and selling of bitcoin be?
This innovation was already being made available to a select number of customers
since the beginning of the month. Now, with its launch, Mercado Livre has ideas to expand the new experience to all of Latin America. However, payment for products on the platform through cryptocurrencies will not yet be released.
However, the opportunity has not yet been completely overlooked. There are payment solutions that can authorize the acquisition of goods, sale and guardianship of Bitcoin. Soon after, cryptocurrency will be made available as payment. Exactly what happened with PayPal previously.
The company MercadoLivre, last week, carried out its first offering of shares aimed at this medium. The amount of US $1.55 billion was raised with the aim of injecting the corporation.
This month was also the scene of the Central Bank’s endorsement, which was intended for the company to also be able to work as a financial institution. Now, there is investment space of at least R$400 million.
Wasn’t it legal before?
It was only in 2019 that the central bank (BC) officially considered Bitcoin and other varieties of cryptocurrencies as monetary assets in Brazil. With that, BC became the first bank in the entire world to consider and allow people to switch to Bitcoin.
Strict rules and sanctions were also adopted for those who try to circumvent the adopted rules through fraudulent acts.
Currently, each country adopts a different stance regarding the famous cryptocurrencies. In Japan, for example, cryptocurrencies have been considered a means of payment for some years now.
How does Bitcoin work?
Bitcoin are cryptocurrencies that do not exist in physical form, it is possible to have them only in the digital environment. Nowadays, there are more or less three thousand diversified cryptocurrencies, each of which can have a different function from the other.
However, they all share the same central objective, which is to improve the security and effectiveness of the exchange of financial assets, thus creating a democratization of the sharing of world money.
The initial cryptocurrency had its existence through Satoshi Nakamoto in the year 2008. It is the bitcoin we know today.