Bitinka: Connecting the Crypto World with Latin America
While the 21st century has witnessed novel and world changing technologies and many of which are under development today, only a few have the potential of blockchain. Blockchain technology is a revolutionary storage method that makes outside tampering literally impossible and enables a varied range of activities that were either impractical or impossible before. Blockchain technology, in simple words, is a digital storage method in which individual parts of information are connected to one another. The result of the collection of the data is a long chain that is nearly impossible to be stolen or altered without being caught. This is the major feature of the blockchain technology that allows anyone using the technology to be confident that their data is secure. And one of the widely successful application of the blockchain technology is cryptocurrency or digital currency. Cryptocurrency can only succeed if it is issued in anticipated quantities and as per consistent schedules. And to make sure this happens, the blockchain is the most reliable way.
A Pioneering Cryptocurrency Exchange Platform
Offering users to be a part of this world changing technology is Bitinka. With a presence in more than 11 countries in America, Bitinka is an exchange platform for buying and selling Bitcoins and cryptocurrencies that allows you to enter into the crypto market in your local currency. Bitinka was founded at Lima-Peru in 2013. Within five years since its foundation, Bitinka has become the most important cryptocurrency exchange platform in Latin America, with presence in over 10 countries across Latin America, Europe, and Asia, allowing users to buy and sell cryptos in their local currency. Bitinka works with more than 20 cryptos, 9 fiat currencies and more than 90 pairs.
Roger G. Benites and his co-founders saw the opportunity of creating Bitinka 5 years ago because he realized that, in Latin America, there wasn’t a basic crypto ecosystem which benefited users from working/dealing with cryptocurrencies and the blockchain technology. “It is a fact that in the region, neither the bitcoins nor the altcoins are not of public knowledge, and that is why users ignore the benefits that these crypto actives can bring to their day-to-day lives. In the region the bitcoin and the altcoin are not public knowledge, and that is why people ignore all the facilities that these active crypto can bring to their lives in the day to day,” Roger shared.
The journey without obstacles is the wrong one!
The first goal was to deal with Blockchain technology as a local exchange. The project had started, but due to lack of initial funds, the founders had to put it on hold for almost half a year. After sitting for half a year with the initial project and traveling around Latin America, the founders observed that all the countries didn’t have a solution for the use of different fiat currencies. Moreover, there was a big problem with currency exchange restrictions in several countries such as Brazil, Argentina and Venezuela. Bitcoin was the currency they chose and since Bitcoin and Incas relate naturally to gold it was named Bitinka.
However, the journey had just started and the destination was far away. The most important obstacle that the company tackled (and still does) was the introduction of cryptocurrencies in the Latin American region. Educating users in Latin America about the advantages of crypto assets and Blockchain technology has made the journey a difficult one. But the founders knew what they were doing and believed in their idea. The result being South America’s most important cryptocurrency exchange platform.
Leading the Industry Across 3 Continents
Through Bitinka Exchange and Bitinka Broker, Bitinka leads the industry in three continents. The company offers Bitinka Exchange platform for its users to sell and buy different cryptocurrencies in the market that the company works with. Both the selling and buying price are set by the users and the market itself. On the other hand, the company offers this platform (for free) as an additional service for its users. In the broker trading platform, Bitinka sets the selling and buying price of the cryptocurrencies that the company works with.
A passionate and self-made entrepreneur
Roger G. Benites is a Latin American entrepreneur who has lived and worked across South America, in countries like Argentina, Peru, etc. Roger has always been in love with the technology. He is passionate about ecommerce, trending financial technologies and crypto-currencies. Roger has experience working on major international company like IBM, GM. He is an experienced and self-made business man who has worked from scratch to bring his new passion Bitinka into emerging markets.
Roger believes that although the blockchain technology is strongly linked to cryptocurrencies, the latter is just some of its use cases. This technology can be used without the need of cryptocurrency or mining in between. “We can say that at the moment the trend is towards the development of solutions with smart contracts. There are different projects with a view to launching their mainnet that allow developing intelligent contracts, which have their own token. On the other hand, companies like Microsoft and IBM also focus on the development of intelligent contracts, but based on HyperLedger Fabric, which does not necessarily depend on the use of a token or mining,” Roger said when asked about where the industry is heading.
The vision ahead
Going into next year, one can expect new cryptocurrencies and fiat money from Bitinka along with the expansion to new markets (Europe, Asia and United States). Moreover, the company is looking at the development of new services for its customers. Bitinka aims to be the exchange with the biggest number of pairs in the world and penetrate into new markets (form Europe, Asia, America). Finally, Bitinka wants to be the reference point for cryptocurrency in Latin America.