Bit2me, a Spanish cryptocurrency exchange, is considering entering the Latin American market. The company has begun operations in BTC by establishing a local office to handle compliance issues and ensure that the exchange is a safe alternative for Brazilians. The exchange hopes to successfully penetrate the country's 20-million-customer market.
If the exchange site Bit2me, will open a branch in Brazil, Bit2me will compete with 11 other crypto exchanges that are quite popular and trusted in Brazil such as Mercado Bitcoin and Binance.
What the Bit2me exchange site in Brazil wants to do, other exchange sites are already doing it, such as: Bitfinex, OKCoin, the one from Hong Kong and China.
As I've read:
11 trusted online cryptocurrency exchanges operating in Brazil including Mercado Bitcoin, Foxbit, and eToro.In my opinion, if Bit2me is aiming for 20 million users, in the next few years, it might be a bit of a challenge, Mercado Bitcoin alone, which has been operating in Brazil for a long time and is trusted, only has 1,500,000 users, the second is Binance.
I think Bit2me should prove to the crypto users in Brazil first, about their platform as a whole and their Reputation, before they target 20 million users, competition is fierce in Brazil.