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Cryptocurrencies: 12,885
Markets: 942
Marketcap: $ 2.10 T(0.32%)
24h Vol: $ 59.98 B
BTC Dominance: 48.13%

Latin America Shows Growing Bitcoin Dominance Despite Gender Gaps

Key Takeaways

According to Bitso’s Crypto Landscape report, Bitcoin constitutes 53% of user portfolios in Latin America. By the end of 2023, this grew to representative of clients’ portfolios in the region.

Bitcoin’s Popularity

Brazil shows a 58% holding in Bitcoin, the highest among Latin American countries. In Mexico, Bitcoin accounts for 40% of cryptocurrency purchases, with XRP being the third most popular due to the value of international transfers.

Growing Female Adoption

The report found a growing number of female crypto adopters in Latin America, with 44% aged 65 or above. Colombia has the highest percentage of female users on Bitso at 33%. Brazilian women crypto adopters represent 31% of the total, a 4 percentage point increase from the average. In Mexico, women made 37% of Bitcoin purchases with Mexican Pesos during the second half of 2023.

Long-term Holding Preferences

Long-term crypto holders in Latin America are retaining their assets, indicating trust in the market’s future growth.

Argentina’s Preference for Stablecoins

Argentinians show a preference for digital dollars over Bitcoin, with stablecoins making up 60% of total purchases in contrast to 13% for Bitcoin. High inflation in Argentina, reaching an annual rate of 211.4% in 2023, pushes consumers toward stable assets to prevent money devaluation.

Quick Conversion of Fiat

Due to the peso’s devaluation, Argentine users tend to quickly convert their fiat money into more stable options.

External links: Bitso’s Crypto Landscape report gives insight into Latin American crypto trends | Argentina stablecoin preferences

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