Stablecoins Lead in Argentina’s Crypto Purchase Race

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  1. The purchase of cryptocurrencies by Argentines has increased.
  2. Stablecoins are allegedly leading this charge.
  3. 14% of people in Colombia and Brazil reported that they were buying crypto.

In spite of Argentina’s skyrocketing hyperinflation, the country’s acceptance of cryptocurrencies is on the increase. According to the results of a recent poll, 17% of individuals in the nation acquired cryptocurrency in the latter half of the year, with more than half of those people opting for stablecoins.

According to this research, Argentina has surpassed the adoption of this sort of asset in other Latin American nations such as Mexico, Peru, Brazil, Colombia, and Chile.

Concretely, 17% of individuals in Argentina indicated they had purchased cryptocurrencies “as a sort of savings or investment” in the preceding 12 months, according to the findings of a study that was conducted in November 2022 and based on interviews with 2,400 people who used smartphones.

A study of the same kind was carried out by the same researcher in November 2021, and the results showed that 12% of respondents had purchased tokens. The increase of 5% might very easily be attributable to inflation, given that Argentina’s inflation rate was the highest in the world a year ago, coming in at nearly 90%.

The percentage of people who had adopted cryptocurrencies was equally high throughout the rest of the region, with 14% of people in Colombia and Brazil reporting that they had done so.

The percentage of Mexicans, Peruvians, and Chileans who said that they had purchased cryptocurrency was far lower than the global average, coming in at less than 10% of all respondents.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer