– Bitcoin (BTC) makes up 53% of user portfolios in Latin America according to Bitso’s Crypto Landscape report
– Brazil showed 58% of total holdings in Bitcoin, with the most diverse crypto portfolios being altcoins
– Mexican crypto users have 40% of purchases in Bitcoin, with XRP also having a significant presence
– Increasing participation of women, especially among older age groups, in the crypto space with 44% of female crypto adopters in the region being 65 age and above
– Colombia has the highest number of women using the platform, representing 33% of the total, while Brazil’s women crypto adopters have increased to 31%
– 37% of Bitcoin purchases with Mexican Pesos in the second half of 2023 were made by women
– Long-term crypto holders continue to hold their digital assets, waiting for a new ‘crypto summer’
– Digital dollars including USDC and USDT were among the fastest-growing cryptos in the region, with 26% of the average portfolio of Argentina users being stablecoins
– In Argentina, the acquisition of digital dollars exceeds that of other cryptocurrencies by almost 5 times, with 60% of total purchases compared to 13% for Bitcoin
Title: Bitso’s Crypto Landscape Report Highlights Bitcoin Dominance in Latin America
1. Bitcoin Dominance in Latin America
Bitso’s latest Crypto Landscape report reveals that Bitcoin makes up 53% of user portfolios in Latin America. The report notes that by the end of 2023, Bitcoin represented more than half of clients’ portfolios in the region.
2. Crypto Adoption in Latin America
In the face of economic turbulence in the LatAm region, countries in Latin America are increasingly shifting to cryptocurrencies as a deemed lifeline. Brazil showed 58% of total holdings in Bitcoin, while the most diverse crypto portfolios were comprised of altcoins. Mexican crypto users have also showcased a preference for Bitcoin, with 40% of purchases made in the cryptocurrency.
3. Involvement of Women in the Crypto Space
Bitso’s report emphasizes the increasing participation of women in the crypto space, particularly among older age groups. The findings revealed that 44% of female crypto adopters in the region are 65 years and above. Colombia and Brazil were identified as leading countries in terms of women using the platform.
4. Long-Term Holding and Trust in the Crypto Ecosystem
The report also highlights the trend of long-term holders continuing to hold their digital assets, indicating a belief in the future success of the ecosystem. This holding attitude demonstrates trust and confidence in the market’s potential for growth.
5. Preference for Digital Dollars in Argentina
Bitso noted that digital dollars, including USDC and USDT, were among the fastest-growing cryptocurrencies in the region. Argentina’s annual inflation rate soared to 211.4% in 2023, creating an incentive for consumers to target more stable options to protect their money from devaluation. As a result, 60% of total purchases in Argentina were digital dollars, surpassing the acquisition of other cryptocurrencies by almost 5 times.
In conclusion, Bitso’s Crypto Landscape report provides valuable insights into the dominance of Bitcoin in Latin America, the involvement of women in the crypto space, and the preference for stable cryptocurrencies in the face of economic challenges. These findings shed light on the evolving landscape of cryptocurrency adoption in the region.
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