Bitcoin Cash Argentina, a non-profit organization whose goal is to promote the use of Bitcoin Cash (quotation live), has launched a flipstarter campaign to try to raise funds and explain the use cases of this cryptocurrency in the country and increase its adoption. The Argentine economy has been severely hit by inflation and devaluation, which is why interest in cryptocurrencies and how they can be used is growing rapidly.
Bitcoin Cash Argentina raises funds to promote token adoption
Bitcoin Cash Argentina, whose purpose is to promote the use and adoption of Bitcoin Cash in the Argentine country, is raising funds to further increase their reach and increase adoption through a range of targeted activities. The fundraiser was initiated through Flipstarter, a tool that allows anyone to raise money for a certain goal. Funds will not be released until the goal is achieved.
Although Bitcoin Cash Argentina was born only six months ago, it has managed to grow rapidly and organize meetups, significantly increasing the Bitcoin Cash user base. According to his statement on Flipstarter, the team wants to do this to show the community what can be done.
And he managed to do it. Bitcoin Cash Argentina's first goal was to welcome 50 merchants to the country with self-provided funds. This goal was partially achieved, with 45 traders on board between March and May. The team also hosts monthly meetings where they explain how Bitcoin Cash works to new users and the benefits of everyday use.
If its campaign is successful, BCH Argentina plans to step up its activities, expanding its first phase target to reach 100 merchants on board. Part of these funds would be donated to users who would have the experience of spending them on local merchants. This would encourage the creation of a circular economy.
The campaign was well received by the community, reaching over 80% of the goal with 12 days to go. Community members such as Roger Ver and Marc De Mesel have already contributed substantially, increasing the legitimacy of the project.
Argentina's journey into cryptocurrencies
Argentina is a relatively new country in the cryptocurrency landscape. Interest in cryptocurrencies has only recently grown, due to the economic difficulties the country has been facing.
The control of the currency exchange was one of the main reasons Argentines were looking for an alternative to the US dollar. Citizens used to changing their salaries and savings into dollars are now unable to do so because of these controls.
Now, struck by the problems related to Covid-19 and having to fight inflation rates of 50% per year, Argentina is ready to adopt cryptocurrency. Exchanges like Ripio and Bitso have hit record highs of users this month, and this trend is unlikely to change in the near term. And what do you think of this campaign led by Bitcoin Cash Argentina? Write us in the comments below.