• Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
Digital Skill Institute
  • Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
      • Login

    Argentina

    • Home
    • Blog
    • Argentina
    • Argentina Records Rising Cryptocurrency Adoption Among Citizenry Amid Rising Inflation

    Argentina Records Rising Cryptocurrency Adoption Among Citizenry Amid Rising Inflation

    • Posted by DigitalLeonard
    • Categories Argentina, Crypto News, Cryptocurrency, News, Survey
    • Date April 19, 2022
    • Comments 0 comment

    [ad_1]

    A recent report from Americas Markets Intelligence shows that Argentina has recorded some significant growth in recent times in cryptocurrency adoption.

    Carried out in 2021, the survey polled 400 different subjects via their smartphones and discovered that 12 in 100 Argentinians (or 12%) invested in crypto last year alone. While some could argue that this might be a low figure, Argentina ranks higher than other South American nations in crypto adoption. In 2021, Brazil had a crypto adoption rate of 7%, while Mexico had only 6%. Argentina also ranked above the average adoption rate of Latin America of 8%.

    Analysts explained that this increase in crypto adoption came due to several prevailing economic factors in the country, including inflation and monetary restrictions. Regardless, Argentina’s adoption rate fell short of the 16% recorded in the US.

    The survey also evaluated possible reasons behind the rise of crypto in Argentina above the average in Latin America and discovered three potential reasons.

    shutterstock 580430338 min

    Three Reasons Behind the Increased Adoption of Cryptocurrency in Argentina

    The first reason is that Argentina has recorded a significant level of digitization of industries and society, leaving traditional banking adoption in the dust. The report detailed:

    “Persistent mistrust of banks has limited the growth of digitization and kept the use of cash even as consumers feel comfortable with digital tools.”

    The second factor was the rapidly increasing inflation and monetary volatility in the country, which made digital assets like Bitcoin and Ethereum significantly attractive for savings and investment despite their volatile nature.

    Finally, the last reason the survey presented as the driver behind crypto adoption in Argentina was the exorbitant fees attached to remittances. The South American nation currently charges a 5.5% premium on foreign remittances. Cryptocurrency helps citizens bypass this remittance fee while providing even speedier transactions.

     

    You can purchase Lucky Block here. Buy LBlock

    Share with other traders!

    [ad_2]

    Source link

    • Share:
    author avatar
    DigitalLeonard

    Previous post

    Cardano Whales Exit Market Amid Steady Declining Prices
    April 19, 2022

    Next post

    FTSE 100 Reaches Overbought Region but Unable to Break Level 7700
    April 20, 2022

    You may also like

    shutterstock_1924603376-min-scaled.jpg
    British Law Commission Submits Proposal to Reform Existing Crypto Law
    28 July, 2022
    shutterstock_1915965031-min-scaled.jpg
    US Senators Pass Bill to Exempt Taxation on Small Crypto Transactions
    27 July, 2022
    EURCHF-1Day.png
    EURCHF Bears Successfully Led the Market Into the Demand Zone
    26 July, 2022

    Leave A Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Search

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    ₦60,000.00 ₦25,000.00
    Step By Step Website Design Tutorial For Beginners

    Step By Step Website Design Tutorial For Beginners

    ₦10,000.00
    How To Create A Professional Website Without Coding

    How To Create A Professional Website Without Coding

    ₦150,000.00 ₦5,500.00
    Digital Marketing Institute Logo
    +2348165842119
    support@digitalleonard.com
    Facebook-f Twitter Google-plus-g Pinterest

    Company

    • About Us
    • Blog
    • Become An Instructor
    • Contact

    Links

    • Courses
    • Events
    • Gallery
    • FAQs

    Support

    • Join Our YouTube Channel
    • Telegram Forum
    • Facebook

    Recommend

    • BINANCE
    • BYBIT
    • HUOBI
    • KUCOIN
    • OKEX
    • BITGET

    Digital Skill Institute By DigitalLeonard.Com Powered by Digital Leonard.

    • Privacy
    • Terms
    • Sitemap
    • Contact

    Login with your site account

    Lost your password?