Wednesday, June 19, 2019

About 300 Businesses in Columbia Adopts Dash Cryptocurrency Over Dollar

The use of cryptocurrencies is fast growing across the world, and that can be said about the digital asset, Dash (DASH). This is because it has seen a 25 per cent increase in adoption where over 300 merchants in Columbia have resorted to using it as a method of payment. As a result, this makes it an alternative to the dollar and other fiats that may have been received in these locations.

Dash’s Adoption Between August to December 2018 Increases

George Donnelly, Coordinator of Dash Colombia, revealed a chart on Twitter showing the significant increase which the coin has seen in its adoption. The chart outlined that between August and December 2018, more people have gotten Dash wallets. Specifically, merchants into food & drinks, beauty & cosmetics, as well as electronics & IT were the most to adopt the cryptocurrency.

The Coordinator attested to the fact that Dash had gained a lot of popularity in Columbia. According to him, he could estimate that about 90 per cent of their merchants have never heard of Bitcoin. The same can be said about Dash; however, there are possibilities for Dash to dominate regions where cryptocurrency is most likely to be adopted.

Merchants Are Exchanging Dash for Fiat Money

While answering some users queries on Twitter, George Donnelly revealed that some of the merchants were converting the cryptocurrency to fiat immediately. About 90 per cent of these merchants were selling their Dash as a way of testing if it was true that one could exchange it for fiat.

He said this is unavoidable, but with time, more trust will be built with these merchants through marketing and education. He also confirmed that suppliers were being paid with Dash by these merchants. However, workers themselves were not earning the digital asset as an income.

Venezuela Also Adopts Dash Cryptocurrency

Asides from Columbia, Venezuela seems to be another country that has taken a liking to the virtual asset. This is a region with over 2,500 merchants who are currently accepting Dash for the exchange of goods and services. Notable among them are restaurants like Church’s Chicken which begun accepting Dash in December last year.

BTCNN also reported on December, 19 that two charity foundations, Borneo Orang-Utan Survival Foundation (BOS) and Adopt1000families had begun accepting the digital asset. BOS, for instance, remarked that it helps to ensure that funds that are sent are delivered on time in comparison to wired transfer which may have transaction fee levied on it.

Enjoyed this article?
Subscribe to our mailing list and receive the hottest news directly to your inbox!

More Articles