For years, Bitcoin has been called an International Currency, with the potential to change the way people all over the world use money. The problem is, there have historically been few ways for people outside of world powers like the United States to buy cryptocurrency with ease.
This has been a major impediment to cryptocurrency adoption. Sure, people all around the world might want Bitcoin, but without a standardized way to purchase it, a comparative few would make the jump. That’s why crypto exchanges like Foxbit are so important. Foxbit allows Brazilian citizens to buy Bitcoin with their own home currency, the Brazilian Real.
Foxbit represents a significant onramp (a place to trade state currency for decentralized digital currency) for a chunk of South America, as well as South Asia. We’ll cover how Foxbit works, and the other features they bring to the table, in the Foxbit review to come.
Final Thoughts on Foxbit
There’s really only so much you can say about a simple exchange like Foxbit. In the end, whether or not you use it will depend on your need for its specialized services and the other options you might have access to. For its part, we think that Foxbit is a credible Bitcoin exchange with a high degree of security and simplicity for users (especially new ones).
If you live in Brazil and you want to buy Bitcoin for the first time, there may be no better option. No country has a ton of fiat>crypto exchange onramps, so Foxbit really does offer an excellent service in this regard. Over and above this, the ease of use inherent in this platform, along with the competitive fees, make it a no-brainer for new Bitcoin users in Brazil.
For users in the other network areas of service, Foxbit gives users Bitcoin as an option for investing and to combat the potential failure of local currencies. Bitcoin may not be a truly global currency yet, but small exchanges like Foxbit are certainly helping it to meet that goal.