According to the ‘Geography of Cryptocurrencies 2023’ report, prepared by Chainalysis, a blockchain analysis company, Brazil ranks ninth in terms of cryptocurrency use.
But why does Brazil occupy such a prominent place? What is the main reason why Brazilians adopted cryptocurrencies? What is the projected adoption of cryptocurrencies for next year in Brazil?
Denise Cinelli, an executive at CryptoMarket, comments that it is truly impressive that, despite the challenges related to security and trust in cryptocurrencies, due to fraud and Ponzi schemes – pyramids – that damage the reputation of the market, there are increasingly more Brazilians investing in crypto assets such as Bitcoin and Ethereum, which are the counterpoint to being seen as safe and reliable. Furthermore, cryptocurrency regulation is evolving in the country.
