Argentina Launches it's First Bitcoin Futures Contract, Brazil To Follow..

[Fuso.hp]

Argentina is an economically backward country. The name of Argentina may appear in the list of poor countries. The Argentine government may be planning to feature Bitcoin to accelerate its economic system. Earlier crypto news was very rare in their country but they may have been a little bit more interested in cryptocurrencies by listening to the domestic news of different countries which is why they are planning such a plan recently. This plan is going to be a good plan for Argentina as their country people are very football fans and they usually travel to different countries to watch football games so if bitcoin transaction facility is offered in their country then hopefully the people of their country will welcome their move.

[Blitzboy]

That's incredible! Futures markets for Bitcoin have recently been launched in a number of countries. Honestly, I never would have guessed. The focus currently is on Argentina, but soon the spotlight will shift to Brazil. However, please keep in mind the practicalities of futures trading.

Futures contracts are pacts to buy or sell Bitcoin at a predetermined future time. Where's the catch? You should always follow your promise, regardless of your financial condition. The potential for either enormous gain or catastrophic loss. This has two edges.

Do not misunderstand me, all right? If somebody is going to bring down Bitcoin, it wont be me. While I think this is a fantastic breakthrough (especially for the credibility of Bitcoin), I feel obligated to warn everyone that it also comes with a new level of danger. Thats important to remember. Be safe out there, crypto nerds!

[vv181]

Knowing that Argentina was exposed to extremely high inflation, anything that could be an alternative or an option for their own citizen to preserve their money is a good thing. Bitcoin might not be the only thing, but this kind of development and sentiment of the Bitcoin futures contract should make them embrace a solution to their inflation problem. It also offers up a brand new awareness to those who did not know Bitcoin beforehand.

Why did Brazil took too long to do what Argentina did? Is it because they're a member of BRICS and somehow China is influencing them?

Being part of the BRICS initiative should make the reason they refrain to adopt such kind of adoption a possibility. China may not influence them directly, but surely Brazil, the counterparts, also have to rethink the scenarios considering they are playing a part in this new economic initiative.