Coincoin, one of the leading mining parts suppliers in Venezuela, has announced that it will now be accepting BCH.
Venezuela is among the countries where virtual currencies enjoy a very speedy adoption. The south American country suffered certain economic and political crisis in the past. This led to hyperinflation of the bolivar, which is the country’s national currency.
Coincoin has its offices in Caracas and is among a host of Venezuelan businesses that have opted to accept the use of the virtual coins.
Coincoin Sells Mining Appliances For Bitcoin Cash
Coincoin is mainly focused in offering the crypto miners all the kind of hardware that they might be in need of. It works just the same way the shovel sellers used to work in the Gold Rush hours. They accepted gold nuggets for all their tools.
Coincoin is selling both accessories and devices for mining in conditions that are very challenging. The country’s economic meltdown has greatly affected businesses drawn from all parts of the market. However, the crisis has also turned decentralized virtual coins into the ideal means of payments. They have also become the stores and exchanges of value. The virtual coins are now growing to become more reliable than the fiat bills.
Catering For Anyone In The Market
It is interesting to note that Coincoin maintains both an online store and Caracas-based brick and mortar store. On this platform, the startup provides a number of products for mining of the virtual coins including a number of Antminer models from Bitmain.
In addition to that, it also sells video cards. The cards can be used in mining applications that aren’t professional and other parts. The covered parts are the cooling fans, cables, power supplies, accessories and mining rigs racks.
BCH Adoption Expansion In Venezuela
Countries that have been leading with crypto adoption are the ones that are facing political turmoil and hardships. The leading ones in this area are Turkey and Venezuela. A number of residents of Venezuela view the crypto coins as a means of either increasing or preserving the value of the income. There are also quite a number of business owners who use the coins to make sure there is stable revenue. The coins then offer their clients with a payment option that is attractive and easy to use.
Advantages Of Using Bitcoin Cash
When compared to a host of other cryptos, BCH is simply the best. It has some advantages over the others. one of the advantages is that it offers reduced fees than the other exchanges. The transaction cost in Venezuela is usually less than the U.S cent.
According to the Marco Coino app, there are more than 200 traders in Venezuela who accept the use of BCH and the numbers have continued to grow each day. There are efforts of increasing the number of crypto stores in the region.