Mercado Pago accepts Bitcoin and Ethereum
Mexico is the second country in which Mercado Pago offers the purchase of bitcoins and ethereum after starting this same program in Brazil a year ago. Later it is planned to add other crypto assets.
“Despite the fact that there is all this fluctuation and all this movement, we are seeing a very good adoption by the market in Mexico,” said the manager in an interview.
Since the launch of the product in Mexico, more than 150,000 users have bought cryptocurrencies in the app and 92% of them maintain their balance.
Mercado Pago has implemented a series of explanatory blogs in the app in order to guide its users in the use of cryptocurrencies, explaining how they work and how to buy them.
The transaction commission is 1.5% of the amount acquired, which according to Rivas is one of the lowest rates in the market.
One of the objectives of this launch is for Mexicans to discover how easy it is to buy cryptocurrencies and later they will analyze if they can make purchases with these assets through the Mercado Pago wallet.
The purchase of products through wallets already works in other countries such as Argentina, where the purchase of any input can be done through QR codes, even with bitcoins.
While the project matures, Mercado Pago wants to offer its clients an ecosystem in which they can make any type of financial movement. From the savings in the wallet, the investments after the alliance with GBM and the receipt of remittances after an alliance with Western Union. Microcredits are also offered to companies and SMEs.
Other relevant data:
Mercado Pago users buy an average of 166 pesos in cryptocurrencies.
45% only bought BTC, 11% only bought ETH and 44% both.
80% of cryptocurrency buyers in Mercado Pago are men and 20% are women.
CDMX, Edomex, Jalisco, Veracruz and Nuevo León are the states where crypto assets are purchased the most.
