Argentina leads cryptocurrency adoption in Latin America
It is estimated that in South America, four out of every ten users of crypto applications are Argentinian
In the midst of the changes that are being experienced in Argentina, particularly established by President Javier Milei, the country is at the top of the adoption of cryptocurrencies.
It is estimated that in the country, more than 20 % of citizens own and trade digital currencies, which is significant when compared to the data from the last census, which determined a population of 46 million people.
The increase in the adoption of cryptocurrencies is supported by the desire to protect themselves from the devaluation of the peso, according to the Argentina Capital Crypto report, “prepared by the Lemon virtual wallet” and which studies “the regulatory and tax panorama of the sector, composition of the local ecosystem and the unique opportunity that the nation has to become a major global player.”
Inflation in Argentina is hitting the peso, the local currency, hard. Consequently, citizens look for financial alternatives that provide them with security and confidence.
Currently, digital currencies are integrated into the daily economy through various platforms that operate in the country. According to accountant Lucas Strasorier to iProUP, “what was previously difficult became routine. The platforms have made it easy to buy, sell and use cryptocurrencies. They can be used quickly, cheaply and securely to send and receive money outside the country. This makes them a great option for those who have family or friends abroad.”
M.Pino
Source: iProUP
(Reference image source: Ewan Kennedy at Unsplash)
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