Peru’s Enrique Cardoza, Project Manager at Bitinka Exchange, Talks On Crypto’s Future In The Region
Bitinka is a trading platform for bitcoin, ethereum, Dash, Ripple and other cryptocurrencies, allowing the user to buy and sell in more than 10 different currencies from the US, Europe and Asia. Headquartered in Peru, the platform services Argentina, Bolivia, Brazil, Chile, Colombia, Spain, Peru and Venezuela.
Our partner, Cripto247, recently interviewed project manager and cryptocurrency entrepreneur Enrique Cardoza on some of the challenges facing the crypto community in the region.
CRIPTO247: Do you think that these types of events are used in the adoption of cryptocurrencies in our Latin America region?
ENRIQUE CARDOZA: It definitely works a lot. I think that not only comes the people who already know about this world but people who want to know. Having the great exponents we have seen on Friday and Saturday there is a lot of educational content for all people, both for those who already knew and for those who are just learning. It is definitely something very good for the ecosystem.
CRIPTO247: Bitinka is a cryptocurrency exchange that is doing a lot in the crypto ecosystem …
ENRIQUE CARDOZA: We have been more than five years. We started in Peru, where our Headquaters (HQ) are, we started with our operations. Our second base was Argentina. We knew that here it was a crypto friendly country (friendly to crypto) and we knew that we would do very well. We have been expanding to different countries, in Chile, we have accounts in Colombia, in Europe and in Brazil.
CRIPTO247: What is the most friendly country in terms of cryptocurrencies and users?
ENRIQUE CARDOZA: In terms of friendlier, Argentina obviously.We have done very well here. We have a lot of demand between Peru and Argentina and we are taking a lot of demand from Europe too. We have many European citizens, from Spain and from different countries.
CRIPTO247: In Argentina we are a little out of date of what is happening in Peru …
ENRIQUE CARDOZA: We can say that this is being divided into two camps: There are people who are very much in favor of promoting information and spreading the word so that people can learn. [And also] There are many people who know about this and take advantage of people’s ignorance.
CRIPTO247: There are many scams?
ENRIQUE CARDOZA: Yes, there is too much scam, there are people who use false names or promise you 200% profitable mining. Recently there was a story related to a Peruvian ICO that if one does the correct investigation knows that it looks like being scam.
CRIPTO247: In two words, how do you warn people to be careful to get into something that could become a scam?
ENRIQUE CARDOZA: Financial maturity You have to be financially mature. Not because someone tells you “hey, I put my money here and the next month they doubled it”, you also put money. We can not get rich overnight. There is no such thing, but we would all be kings. Financial maturity, do not get excited that from one day to the next we will have millions of dollars … You do not have to be ambitious. So it’s silly, so to speak. It is foolish to be ambitious in that way.
CRIPTO247: There are two types of people, those who buy to hodlr and those who buy to trade.
ENRIQUE CARDOZA: Clear. There are people who see it very long term. If it is long term, three or five years, you can actually buy at the price that is because if you buy at 7 thousand dollars knowing that from here to five years may be spending 50 thousand or 100 thousand dollars what happens in the day to day you will not care.
For traders, the price of day-to-day is important. So if they buy a BTC at 5000 or 5100 for them it is quite a difference. Especially if they do that of margin trading and everything else.
CRIPTO247: Is the BTC the cryptocurrency that is most bought?
ENRIQUE CARDOZA: Yes. We have had a lot of demand for bitcoin, also for Ripple (XRP), and Ethereum (ETH). They are the three currencies most demanded for us.
CRIPTO247: How many cryptocurrencies do you offer to buy?
ENRIQUE CARDOZA: In Bitinka, we have more than 18 crypts. We have many other projects that we are already reviewing, many ICO projects to be listed in our exchange.
CRIPTO247: What are the challenges of Bitinka in the medium term?
ENRIQUE CARDOZA: In the medium term, we can say that this demand for cryptocurrencies sometimes generates that we have to keep climbing and escalating in infestrestrucutra to be able to give support and security to everything we have.
On the other hand, the external factor is scams. All the people who cheat, who make others lose money, damage the ecosystem. Then when they see that there is a company that is offering buying and selling services as they do not have much confidence. Then we have to take care of curing all the damage that has been done to the ecosystem of cryptocurrencies.
This story originally appeared in Spanish at Cripto247