XDEX is a Brazilian cryptocurrency exchange that offers competitive rates and services to ensure that Brazilian customers have access to cryptocurrencies, now including Dash.
The announcement cites some of Dash’s key attributes as reasons for the integration, such as the Masternode network, InstantSend, PrivateSend, and the Dash DAO. XDEX highlights how these features give consumers the option to send cryptocurrency extremely quickly and/or privately along with funding the network’s own development.
Breaking News. @xdexbr Exchange in Brazil 🇧🇷 adds @Dashpay @fernandoulrich is behind this project and he is one of the most influential economist in Brazil the biggest #Bitcoin advocate and a great YouTuber. pic.twitter.com/5NSsI6zbPi— Rod Ambrissi (@rambrissi) January 9, 2019
According to their website’s rate sheet, Dash can be traded with a 0.25% fee. The exchange then enables consumers to make deposits from legacy banks for free and charges 7.90 Brazilian Real plus a 0.90% fee for withdrawals. The platform has a very sleek user interface and offers both a basic platform and an advanced platform for consumers of both experience levels.
Historical reasons for cryptocurrency adoption
Brazilians have had a precarious relationship with inflation since it reached a few thousand percent in the 1990s. However, in the new millennia, government leaders have manged to keep inflation rates relatively low and their economy relatively stable. Nevertheless, this makes the region one of the key testing grounds for innovative cryptocurrency adoption since it is a rapidly growing emerging economy. The larger cryptocurrency opportunity in Brazil can be seen by some of XBEX’s biggest investors, XP Control Participações and General Atlantic, which are some of the largest investment firms in the country.
Cryptocurrencies give Brazilians the chance at economic freedom from poorly run companies and governments that entrap individuals with fiat currency. Unbanked Brazilians are estimated to reach up to 55 million individuals and crime is notorious in some of Brazil’s largest cities, which creates a need to safely store money. Cryptocurrencies now provide individuals a new way to efficiently save and spend their wealth without having to sacrifice large amounts in the form of maintenance/protection fees. Brazilians, and more widely, Latin Americans, are truly realizing the potential of cryptocurrencies and are adopting the evolutionary technology to enhance overall consumer welfare.
Dash poised to help the most
While there are many cryptocurrencies out there being used by Brazilians, Latin Americans, and individuals around the world, Dash is poised to offer some of the most opportunity to consumers. Dash has been rapidly growing its merchant adoption to over 4,700 around the world, which makes it relatively easy to use in real world scenarios when compared to other coins. Plus, nearby Venezuela has over 2,500 merchants and Colombia has over 300 merchants. Dash has also been integrated into RealExchange in Brazil and can be used to buy gasoline for cars in the country. Dash has been able to accomplish this because of key advantages like InstantSend, PrivateSend, and DAO funded community outreach groups in these countries. These are also many of the same reasons that has motivated XDEX to integrate Dash in the first place.
Dash rapidly grew in Venezuela partly due to hyperinflation and many individuals being desperate for a solution. However, the rapid growth in Colombia demonstrated that Dash is also preferred and used by many consumers as an alternative payment option in an already functioning economy. As Dash liquidity and merchants adoption spreads in Brazil, it will be easier for individuals to see the advantages of using Dash for many of their everyday transactions.