Business

Steve Kaaru

Users can now deposit Bitcoin SV South American exchange Cryptofacil

South American crypto exchange Cryptofacil has announced in a blog post that it’s now accepting deposits in any of the 250 cryptocurrencies listed on the platform, key among them Bitcoin SV (BSV). The exchange launched in September last year and has grown rapidly in a region where a majority of the population has no access to banking services.

Cryptofacil launched in partnership with top global crypto exchange Bittrex. The partnership enabled the exchange to offer its users the widest selection of cryptocurrencies in the region. Bittrex also offered the exchange the highest security standards in the industry as well as better liquidity for the traders.

And now, Cryptofacil users can make deposits using any of the 250+ cryptos supported. This has been the request made by the highest number of users according to the blog post.

Andres Szafran, Cryptofacil’s co-founder commented, “Cryptofacil’s mission is to make crypto more accessible to Latin America by introducing more than 650 million people from 20+ countries to over 250 cryptocurrencies and blockchain projects.”

The exchange’s director of business development Kwon Park added, “Cryptofacil has rapidly grown into one of the leading exchanges in Latin America since its launch last year. Today represents another step in Cryptofacil’s and Bittrex’s shared commitment to support global blockchain innovation and create the robust marketplace that is necessary for participation.”

Cryptofacil revealed to CoinGeek earlier this year about the reasons behind making BSV one of the first cryptos to be listed on its platform. BSV’s large and robust community was among the top factors, with the exchange stating, “BSV is a top 15 token as far as market cap and has a large community that supports its vision and technology.”

Cryptofacil’s partnership with Bittrex also contributed greatly. Bittrex is a top BSV marketplace and Cryptofacil didn’t want to lose out on the lucrative BSV market. The exchange stated, “We are a Bittrex partner and work very closely with their Digital Assets team. We saw the trading volumes of the different BSV pairs and wanted to allow our users to also be able to trade them.”

The extremely low transaction fees the currency offers also played a key part. In the massively underbanked South American region, the users look to crypto for micro transactions. BSV is the only crypto that has the speed and low fees required to gain adoption as a real currency.

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