Is the adoption of cryptocurrency fading in Latin America?

Hello dear readers, I would like to take this opportunity to share some thoughts about the decision recently taken by the people of the Localbitcoins platform to close its cryptocurrency operations, a fact that may go unnoticed but that for Latin Americans represents a hard blow since this platform somehow strengthened operations in these countries.

The truth is that, this Thursday, the fact that the LocalBitcoins platform announced its immediate cessation of operations was news throughout the crypto ecosystem space, said announcement brought with it diverse opinions from referents in the ecosystem.

In the case of Venezuela, Anibal Garrido, cryptoassets advisor in this Latin American country with many years of experience in the industry, shared his impressions on the cessation of operations of LocalBitcoins, Garrido said that the closure of the aforementioned platform can have multiple interpretations from the reasons that generated it.

However, in Garrido's opinion, the platform did not know how to reinvent itself, nor maintain sustained marketing strategies to avoid the migration of its users to other platforms with more features.

Garrido also shared with Cointelegraph and contrasted the current times with the beginnings of LocalBitcoins, and mentioned that unlike then, now in the present they did not know how to take advantage of the context to show off their site in the now much larger market.

From my perspective I believe that the cessation of LocalBitcoins operations will undoubtedly mean a major setback for users, but that would not imply that adoption will fade away in the Latin American region.

Cointelegraph Learn about the causes of Localbitcoins' closure and why it was an important player in the adoption of Bitcoin in Venezuela and Latin America. Link