Cuba launches Qbita Exchange's first P2P bitcoin exchanger

The creator of the ultra-light bitcoin wallet Qbita, Mario Mazzola, launched the first P2P exchange in CubaBitcoins Qbita Exchange.

Cryptocurrencies are not prohibited in Cuba, but there are nolegislative framework. If we add to this US sanctions, expensive and unstable Internet, as well as other local restrictions, it becomes clear why most of the world's cryptocurrency services and platforms do not work with Cuba.

Thus, Mazzola took on the task of independently developing an all-in-one cryptocurrency system: a Bitcoin wallet, a payment platform and a P2P exchanger.

“I created Qbita Exchange because I have always beenI am convinced that here in Cuba people really need Bitcoin. For Cuba to close the gap in this area, the country needs tools to buy, sell, use and store Bitcoin easily and securely. Qbita solves all these problems" — states Mazzola.

Italian-Cuban cryptocurrencyThe enthusiast launched the Qbita wallet in November last year. It can operate from anywhere in the world, but was created primarily to meet the needs of Cubans. To install the wallet, you only need 1 MB on your mobile device and a relatively small Internet bandwidth. You can also use a web wallet.

Now the wallet supports the built-inA P2P exchanger that allows Cuban users to trade bitcoins from their wallets in a safe and decentralized manner, with full control over their funds.

Mazzola noted that other P2P platforms, such as Paxful and LocalBitcoins, provide similar services, but none of them are suitable for Cubans.

“Of course there is Paxful or Localbitcoins on the market,but they are not available to Cubans. Paxful has Cuba on its “black list”, and on LocalBitcoins it is necessary to go through the user identification procedure (KYC), but due to sanctions, it is not possible for Cubans to fulfill this requirement,” — he said.

Mazzola mentioned P2P platforms CubaCoin and Fusyona, but he said they have various technical limitations.

“Despite initial skepticism, recognitionand the popularity of the wallet has increased significantly since the addition of the P2P trading platform. About a week ago we had about 850 registered downloads. We launched an exchanger, and within a week the number of downloads reached 1100,” — he said. At the same time, Mazzola did not conduct any advertising campaigns.

Qbita developer now creates payment gatewayfor companies that would like to start accepting cryptocurrency. According to him, this initiative is still difficult to implement, since e-commerce in Cuba is still in its infancy.

“I think that in the future we will see morepeople who will use Bitcoin, not in order to capitalize on its growth, but for its true goals: freedom of movement of money and complete control over them. ”

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