Mario Mazzola, creator of the lightweight BTC wallet Qbita, launched Qbita Exchange, a peer-to-peer (P2P) Bitcoin exchange built in Cuba and Cuba alone., the first decentralized Bitcoin exchange in Cuba.
He said: I created Qbita Exchange because I always believe that here, in Cuba, BTC is a real need. Mazzola said that Qbita's development was entirely due to word of mouth: "We did not invest in advertising."
And in order for Cuba to keep pace with other regions of the world, the country needs many tools to buy, sell, use and store BTC easily and securely. “Qbita solves all these problems
Qbita developer is currently building a payment gateway for businesses that want to start accepting crypto. This initiative has not been implemented yet because e-commerce is still in its infancy in Cuba. However, money transferred from abroad is a different story. Mazzola said: “Qbita is the perfect platform to handle money transfer and I'm not saying that mathematics does it. If we compare Qbita with Western Union, a Cuban-American who sent US $ 100 from the United States to his wife in Holguin, she would receive about 95 CUC [Cuban peso conversion]. ”
Mazzola explained that if the transfer is made in BTC and the recipient sells it on arrival, he or she will see the net profit from the transaction, since BTC is sold at a high price in Cuba.
And while the whole world is going through tough times, Mazzola remains optimistic about the future of both Cuba and the cryptocurrency.
This is good news for Cuban traders.
He said: I created Qbita Exchange because I always believe that here, in Cuba, BTC is a real need. Mazzola said that Qbita's development was entirely due to word of mouth: "We did not invest in advertising."
And in order for Cuba to keep pace with other regions of the world, the country needs many tools to buy, sell, use and store BTC easily and securely. “Qbita solves all these problems
Qbita developer is currently building a payment gateway for businesses that want to start accepting crypto. This initiative has not been implemented yet because e-commerce is still in its infancy in Cuba. However, money transferred from abroad is a different story. Mazzola said: “Qbita is the perfect platform to handle money transfer and I'm not saying that mathematics does it. If we compare Qbita with Western Union, a Cuban-American who sent US $ 100 from the United States to his wife in Holguin, she would receive about 95 CUC [Cuban peso conversion]. ”
Mazzola explained that if the transfer is made in BTC and the recipient sells it on arrival, he or she will see the net profit from the transaction, since BTC is sold at a high price in Cuba.
And while the whole world is going through tough times, Mazzola remains optimistic about the future of both Cuba and the cryptocurrency.
This is good news for Cuban traders.
This is a good news to hear for all of us and the Cubans. Establishment of the new exchanges are welcoming idea, but they must be good, reliable and trustworthy for everyone to trade. This could actually propel the interest of the Cubans more in their crypto adoption. More good news to crypto industry.
. I don't know the adoption rate of Cuba but this will no doubt help them buy Bitcoin easily and safely compared to traditional exchanges in the internet. I'm kind of interested on how Cuba will cope with cryptocurrency during this tough times though (Corona and economies crashing).
