Latin America has been recognized as one of the most complex economic regions worldwide.The Latin American continent has different financial challenges, such as high inflationary economies and a lack of financial inclusion, among others.Inflation is usually characterized as one of the biggest structural problems within the region’s economies, with currency depreciation resulting in a loss of economic capacity for the residents.With high levels of lack of financial inclusion, It is estimated that only 55 percent of young adults, a number of around 207 million people, have access to a bank account in Latin America.In some countries, like Argentina and Venezuela, most consumers choose to have their savings in US dollars to fight the inflation [rates](https://www.fxstreet.com/rates-charts/rates).Antonio Palacio, Managing Director of Bitsa Card, said: “Cryptocurrency has been helping millions of people worldwide by bringing them access to a new financial world” During the last years, cryptocurrency has been helping millions of Latin Americans by bringing new tools to tackle inflation, among other economic problems.One of the clearest examples has been the case of [Bitcoin](https://www.fxstreet.com/cryptocurrencies/bitcoin).
The cryptocurrency was born in 2008 as the first cryptocurrency worldwide, proposing an economic system based on no intermediation over operations and decentralized scenarios.The pillars behind this new system are decentralization, non-intermediation and privacy.Within this new financial scheme, transactions are carried out directly between users without the intermediation of third parties such as banks or financial institutions, among others.Bitcoin is much more than an investment asset.This new asset is changing various schemes of traditional economies as a new payment asset, sending remittances abroad and playing a very important role in financial inclusion throughout Latin America.While opening a bank account in a financial institution can be tedious and requires navigating the bureaucracy, Bitcoin offers the possibility to millions of users throughout the Latin American region to access a new financial and monetary scheme based on no intermediaries during transactions.Beyond offering users an alternative to traditional bank accounts, BTC also works as a store of value and doesn’t depreciate as fast as fiat money.
It also works well as a remittance channel, providing fast and secure remittances instead of having to rely on traditional money transfer agents.This benefits Latin Americans who work abroad and want to send money home.THE VALUE OF DIGITAL ASSETS CAN GO DOWN AS WELL AS UP AND THERE MAY BE A SUBSTANTIAL RISK THAT YOU COULD LOSE MONEY BUYING, SELLING, HOLDING OR INVESTING IN DIGITAL ASSETS.YOU SHOULD CAREFULLY CONSIDER WHETHER TRADING OR HOLDING DIGITAL ASSETS IS RIGHT FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.[Join Telegram](https://t.me/fxstreetcrypto) Follow us on Telegram Stay updated of all the news Recommended Content Editors’ Picks [Axie Infinity Prediction: AXS reclaiming the Christmas high of $11.15 will remain hopium unless this happens](https://www.fxstreet.com/cryptocurrencies/news/axie-infinity-prediction-axs-reclaiming-the-christmas-high-of-1115-will-remain-hopium-unless-this-happens-202401140625) [](https://www.fxstreet.com/cryptocurrencies/news/axie-infinity-prediction-axs-reclaiming-the-christmas-high-of-1115-will-remain-hopium-unless-this-happens-202401140625) Axie Infinity (AXS) and Bitcoin Cash (BCH) have recorded more short bets than longs this weekend, data from behavior analytics tool Santiment shows.It comes as the market expects the two altcoins to drop further, unlike the broader market which is expected to recover.[More Axie Infinity News](https://www.fxstreet.com/cryptocurrencies/news?q=AxieInfinity&hPP=15&idx=FxsIndexPro&p=0) [Chainlink price teases with a 20% upside potential as LINK coils up for its next move](https://www.fxstreet.com/cryptocurrencies/news/chainlink-price-teases-with-a-20-upside-potential-as-link-coils-up-for-its-next-move-202401140500) [](https://www.fxstreet.com/cryptocurrencies/news/chainlink-price-teases-with-a-20-upside-potential-as-link-coils-up-for-its-next-move-202401140500) Chainlink price has been consolidating between the $13.330 and the $17.163 market range since November 8.
The ensuing price action has been typical of a market full swing market cycle, presenting clear opportunities for perpetual traders to ride the series of trends, with the next one likely to be a recovery.[More Chainlink News](https://www.fxstreet.com/cryptocurrencies/news?q=Chainlink&hPP=15&idx=FxsIndexPro&p=0) [Spot Bitcoin ETF approvals in the US inspires ambition among Hong Kong industry insiders](https://www.fxstreet.com/cryptocurrencies/news/spot-bitcoin-etf-approvals-in-the-us-inspires-ambition-among-hong-kong-industry-insiders-202401140400) [](https://www.fxstreet.com/cryptocurrencies/news/spot-bitcoin-etf-approvals-in-the-us-inspires-ambition-among-hong-kong-industry-insiders-202401140400) Spot Bitcoin exchange-traded funds (ETFs) have been the driving theme in the US market over the past few months, with the climax happening on January 10.Thus was when the US Securities and Exchange Commission (SEC) approved all eleven investment products to launch, with trading kicking off on January 11.[More Cryptocurrencies News](https://www.fxstreet.com/cryptocurrencies/news) [Celestia price tops out with a possible 10% correction for TIA before another buying opportunity](https://www.fxstreet.com/cryptocurrencies/news/celestia-price-tops-out-with-a-possible-10-correction-for-tia-before-another-buying-opportunity-202401140300) [](https://www.fxstreet.com/cryptocurrencies/news/celestia-price-tops-out-with-a-possible-10-correction-for-tia-before-another-buying-opportunity-202401140300) Celestia (TIA) price action since late October has been characterized by strong interest among the bulls to capitalize on every correction.Resultantly, each dip was countered by aggressive buying that saw TIA market value quickly pullback north.With TIA now overbought, the altcoin may be due for a correction before another foray north.[More Celestia News](https://www.fxstreet.com/cryptocurrencies/news?q=Celestia&hPP=15&idx=FxsIndexPro&p=0) [Bitcoin: BTC crashes as GBTC dumps, but bullish outlook still not under threat](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btc-crashes-as-gbtc-dumps-but-bullish-outlook-still-not-under-threat-202401121900) [](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btc-crashes-as-gbtc-dumps-but-bullish-outlook-still-not-under-threat-202401121900) Bitcoin (BTC) price action since October has been broadly bullish, consolidating within an ascending price channel.
The hype around spot BTC exchange-traded funds (ETFs) played a role in nurturing this uptrend, as well as the halving event that remains on the horizon.With the spot BTC ETFs narrative priced in already after the January 10 landmark decision, traders and investors are now navigating the aftermath as the waves of institutional money meet the shores of crypto.[Read full analysis](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btc-crashes-as-gbtc-dumps-but-bullish-outlook-still-not-under-threat-202401121900).
