Bitcoin Forum

Mario Mazzola, creator of the lightweight BTC wallet Qbita, launched Qbita Exchange, a peer-to-peer (P2P) Bitcoin exchange built in Cuba and Cuba alone., the first decentralized Bitcoin exchange in Cuba.

He said: I created Qbita Exchange because I always believe that here, in Cuba, BTC is a real need. Mazzola said that Qbita's development was entirely due to word of mouth: "We did not invest in advertising."
And in order for Cuba to keep pace with other regions of the world, the country needs many tools to buy, sell, use and store BTC easily and securely. “Qbita solves all these problems

Qbita developer is currently building a payment gateway for businesses that want to start accepting crypto. This initiative has not been implemented yet because e-commerce is still in its infancy in Cuba. However, money transferred from abroad is a different story. Mazzola said: “Qbita is the perfect platform to handle money transfer and I'm not saying that mathematics does it. If we compare Qbita with Western Union, a Cuban-American who sent US $ 100 from the United States to his wife in Holguin, she would receive about 95 CUC [Cuban peso conversion]. ”

Mazzola explained that if the transfer is made in BTC and the recipient sells it on arrival, he or she will see the net profit from the transaction, since BTC is sold at a high price in Cuba.
And while the whole world is going through tough times, Mazzola remains optimistic about the future of both Cuba and the cryptocurrency.

This is good news for Cuban traders.

Sounds interesting, I hope it goes well with the people of Cuban, I know this nation has been under sanction by the USA and that is affecting her economic. I don't get to see many Cubans in this space. Can you get us a link to this post?

I dont think that it will be honest one

Every good news for crypto is always encourages us as we are crypto lovers. Cuba has launched its first decentralized cryptocurrency exchange which will spread the value and awareness in South America and North America continent. If this exchange gets legality in Cuba from Govt, it will also better for the crypto lovers.

Even in this hard times, people are seeing the opportunity to build their desire project in the crypto space. This is really a good news that will brighten most people, mostly those in Cuba therefore giving them a reason to smile amidst the pandemic, in addition it will also lead the path to people knowing more about crypto. Furthermore, being a decentralized exchange will give the users or traders a good form of security.

Yes you are right, many new exchanges are just after people's money but not until the exchange proves it worth I don't have any interest, better off with top exchanges for now

This caught my attention though..  ;D

Let's give them a break. Who knows, they will rise as one of the biggest crypto exchanges in that region? But this one is still good news among crypto users, it means possible more adoption, right? Also, this might be another Malta or Estonia in the making later on, where crypto devs or owners want to get their license for their businesses.

It is a good news indeed for Cuban people but OP, I have something to tell you that you forgot to include the original source of this news.

https://decrypt.co/26405/cuba-bitcoin-exchange-despite-restrictions

Great news indeed to see the anti right now financial system taking crypto as another weapon to fight to current monsters of banks & the financial system.
Cuba, China, Russia re the ones that may lead to a huge mass adoption of crypto make it something REAL that no other nations can get rid off.

I believe the Cuban people will definitely love it the much anticipated exchange is now in their own land, despite some restrictions Mario mazzola developed peer-to-peer exchange built in Cuba.

Cuban people desperately need this also there will be a mass adoption from now, the Cuban people have control over their own money now they will get rid of these money collecting banks.

Another country joins the cryptocurrency space  ;D. I don't know the adoption rate of Cuba but this will no doubt help them buy Bitcoin easily and safely compared to traditional exchanges in the internet. I'm kind of interested on how Cuba will cope with cryptocurrency during this tough times though (Corona and economies crashing).

By the way OP, you should include the source of your news in your post.

So we have great news here because one exchange in Cuba has opened so people can start to trade crypto like other people in other places. It always helps crypto to be spread to another country so more people will begin to use crypto too. That could be a good example for another country to try to open crypto exchange in their country.

Good thing that they are P2P exchange, which means that people there can hold their funds to have total control, and no third party involves just like a centralized exchange. But there is one thing I most worried about because I have hard they are poor of internet connection and I hope they will have a solution for that.

Bitcoin exchanger has been worldwide spread as of now, probably other countries will also follow their steps and make their own crypto exchange and the government will also cooperate with them. Despite the existence of unclarity in terms of regulations across Cuba.

The whole country may adopt crypto currencies soon because of the sanctions were made on them lowered their fiat value so no one can stop them if they are using decentralized payment but still this is in growing stage so this exchange can help the adoption to increases more.

very interesting, my opinion is the right of the creator of the Qbita lightweight BTC wallet to determine their own place of exchange both the development and the costs that come out of all transaction costs and so forth is possible if the public likes to use it as a decentralized digital exchange tool even though there are certain costs cut off when making a transaction.

That's great news, I believe in the future there will be more countries that accept crypto and open their own exchanges in their countries. Btw do you have any link to this news? I want to see and read it in more detail

Good to hear Cuba also entering the cryptocurrency market. Countries like Cuba will benefit a lot from cryptocurrency as it falls under sanctioned country where US dollar cannot be used. The inflow of foreign direct investment can be obtained using cryptocurrency. This will help Cuba economically.

I think in the money transfer aspect, it will be a great relief to many Cuban people living abroad to send money home without much stress, and i like the fact the exchange is decentralized, I hope they will receive the support of the Cuban people to facilitate more growth and development of the exchange,
Good initiative by the developers, they have the interest of the people at heart.

Exactly. Cuba is a poor country in South America, but investors in this country and South America are very potential. Especially in the context of economic and money of some countries is gradually becoming devalued like Argentina.
And I believe in the near future will promote Cryptocurrency development even stronger

This is wonderful news and just goes to show the reach Cryptocurrency currently has. With the help of open source projects, they'll be a lot more countries opening exchanges in the near future.

I think your subject is misleading, the exchange is not own by Cuba
But the exchange is an exchange platform for people who live in Cuba.

You did not highlight further information, but I would implore anyone to do their research before using the platform

Wow!! The world is really changing. Cuba used to be a hardcore Communist dictatorship, where private ownership of anything valuable was forbidden. Now they are allowing their citizens to own and trade in cryptocurrencies. Perhaps they realized that communism and socialism are failed ideologies, and in order to survive in the modern world, they need to throw these to the dust bin.

Right? it's just quite rare for a government to own a crypto private exchange even I know none more specifically Cuba that we are talking about. But i still congratulate them to have a crypto exchange opened up there.

Below is the quote from the OP. He already made it clear, except it might not be well understood. What he meant to say is that the exchnage is for the people of Cuba.
This simply indicates that it is not a global exchange since the service is provided for that region alone.

There are other countries with a platform like this and many have it in numbers.
That is a good development and congratulations to the people of Cuba because it gives an easy access to Cryptocurrency/Fiat.

This is a good news to hear for all of us and the Cubans.  Establishment of the new exchanges are welcoming idea, but they must be good, reliable and trustworthy for everyone to trade.  This could actually propel the interest of the Cubans more in their crypto adoption.  More good news to crypto industry.