In the first week of November, 99Pay’s Bitcoin-buying feature will be available in Brazil.
The digital wallet app 99Pay from Brazilian taxi company “99” now allows for the selling and purchase of Bitcoin. This week’s announcement is yet another step toward boosting Bitcoin usage and acceptance. On Thursday, Bitcoin, the most valuable cryptocurrency in the world, was worth $62,953 (approximately Rs. 47 lakh). Brazil’s cryptoculture appears to be gaining traction recently. Brazilians have reportedly spent $4.27 billion on cryptocurrencies so far in 2021 (approximately Rs. 31,985 crore).
Maximum Bitcoin purchases range between BRL 10 (approximately Rs. 135) to BRL 10,000. (roughly Rs. 1.3 lakh).
According to the firm, Bitcoin payback will be given to the app’s 20 million active users.Starting Wednesday, November 3, the feature will be available.Meanwhile, in recent years, pro-crypto voices in Brazil have become increasingly loud.
The four-year-old daughter of Brazilian crypto exchange pioneer Joao Canhada made a massive profit of over 6,500% on her first-ever Bitcoin earlier this month, stirring the crypto-brotherhood brewing in the country of around 200 million people.
companies while attempting to find a means to enhance the consequences for unlawful crypto-related actions.
Ride-hailing giant 99, which owns 99Pay, was acquired by Chinese cab company DiDi in 2019. While China has enacted a blanket ban on crypto operations, worldwide subsidiaries of Chinese corporations appear to be on board.
Other well-known consumer firms have also added a Bitcoin trading option to their facilities. Walmart, the world’s largest retailer, recently deployed 200 Bitcoin ATMs at select shop locations around the country. Visitors to Walmart will be able to acquire Bitcoins in the United States by inserting cash into these ATMs.
According to cryptocurrency tracker CoinMarketCap, the total market value of all cryptocurrencies has surpassed $2.5 trillion (approximately Rs. 1,87,42,625 crore). The worldwide crypto market has eclipsed the market capitalization of some of the world’s most valuable firms, such as Apple and Microsoft.