Bitcoin News

First Physical Bitcoin Exchange Opens in Mexico

First Physical Bitcoin Exchange Opens in Mexico

First Physical Bitcoin Exchange Opens in Mexico

Bitcoin is a virtual currency, there is no getting around that. However, if the space and the token is ever going to reach mainstream adoption (and there is an argument that it is well on its way to doing exactly that right now) then in all likelihood it is going to have to establish some degree of physical presence.

That isn't to say that the space is going to need physical coins or cash type of alternative, but physical exchanges could go a long way towards adding credibility to a sector that desperately needs it to aid growth.

We are seeing numerous examples of physical Bitcoin Exchanges opening globally and each has brought with it something new and exciting for the region in question.

And now we have one more.

News just hit press that the first physical Bitcoin Exchange has opened in Mexico and it’s just two blocks away from the Mexico Stock Exchange.

The exchange, called BitLemon SA business, but referred to by the company and its users as Bitlem, is the first physical Bitcoin Exchange in Mexico and marks a key transition (in terms of adoption) for the country at a time when – arguably – it's very much-needed.

Jorge Chávez Martinez is the guy behind the exchange and, in an interview here, he said about the opening and the reasoning behind it:

“In order for Bitcoin to reach a level of trust and usability by the general population, companies are required to approach the client in a physical and face-to-face manner.”

Users are able to head into the exchange and swap out Mexican pesos for a variety of different cryptocurrencies, including Bitcoin and Ethereum, and the exchange takes a fee as its return on the service.

Chances are that, we will see a lot more of such things hitting the press as time goes by and adoption rates increase.

Author : Jack Dean

Jack has worked in the cryptocurrency industry for 5 years now as a reporter. His experience is predominately in banking, while he also has a keen interest in the forex world. His daily output is read by thousands of readers globally.

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