Dash Is Growing in Popularity
Over the past 18 months, Dash transactions have also increased tenfold. Latin America has recorded more than 20,000 total Dash transactions. This is an 86 percent spike since January of 2018, suggesting that the cryptocurrency is becoming more popular, and that digital assets have a generally stronger position.
According to Ernesto Contreras, Dash Core Group’s business development manager in Latin America, small-scale transactions are likely the most popular. Most Latin Americans likely aren’t trading much, but many people are all trading at once, which is contributing to the swelling numbers one is witnessing. On average, each transaction equals about $5.16 USD, and these transactions are occurring regularly, suggesting that Dash is being used to purchase everyday goods and services.
In other words, Latin America is not necessarily a region of speculation as it is of traditional use. Cryptocurrencies are being used more as units of payment rather than investment tools. This has been the goal of cryptocurrencies for many years, though very few individuals and companies have followed through on that goal given the volatility of most digital assets.
Contreras says that one of the reasons Dash has become so successful is because it boasts several partnerships throughout the region. One of the biggest is its affiliation with Traki supermarkets, which allows customers to pay for food items with the currency. Traki is among the largest retail chains in Venezuela, for example, a country that has been marred heavily by a shaky history with crypto and fiat alike.
Its national currency, the bolivar, has been victimized by heavy inflation over the years, and many people cannot afford to pay for the items they need. The country is also undergoing a serious shortage of basic supplies, such as food and clean water. Market shelves are virtually bare, and many have sought to attack zoo animals so they can obtain meat for their families.
Partnerships Abound Make It a Strong Currency
Dash has also partnered with Kripto mobile phones, which cost less than $100 each and have strived to become the most affordable phones for Latin Americans. Each phone is equipped with Dash-based apps that allow individuals to utilize the cryptocurrency to send money or pay bills.
Dash has become so popular within Latin America that it is now used more than any other cryptocurrency besides bitcoin. Dash is ultimately permitted at roughly 2,200 retail stores in just Venezuela alone, which suggests a solid presence within the country given the total number of stores that accept it worldwide is around 4,000. The currency is also available in roughly 700 ATMs and through 90 different exchanges.