More and more brands are accepting bitcoin (BTC) payments to meet consumer needs. In November 2021, the South American e-commerce giant decided to enter the sector. Today, MercadoLibre allows millions of users to buy BTC. Find out more in this article.
The purchase of bitcoins possible for 38 million users
According a tweet from Bitcoin Magazine on August 9, “the largest company in Latin America will allow 38 million users to buy bitcoin (BTC)“. In November 2021, MercadoLibre launched a system allowing its Brazilian customers to buy bitcoins and other cryptos. Customers could also sell and hold digital assets on the platform.
To do this, the Argentinian e-commerce giant has launched a digital wallet: the app Mercado Pago. This application is available via the MercadoLibre website. You should know that it already allowed MercadoLibre customers to obtain loans as well as a free credit card. Customers also used it as a digital account similar to PayPal.
Tulio Oliveira, the vice-president of Mercado Pago then declared: “We took the time to study and learn before deciding to embark on cryptocurrencies (…) They carry a potential for future evolution and open a new path for us (…) The idea is to reproduce this offer in other Latin American markets in the future.“.
However, users’ bitcoins and cryptos on Mercado Pago did not qualify to purchase goods on MercadoLibre. The company also did not indicate whether users could withdraw their assets to a personal digital wallet.
Last year, the company MercadoLibre made it clear that it wanted to simplify the purchase of bitcoins (BTC) in South America. Today, the company decides to allow its 38 million customers to buy bitcoin (BTC) via its platform.
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