CryptoBrazil takes new place in world rankings as losing Brazilians adopt cryptocurrency

Brazil takes new place in world rankings as losing Brazilians adopt cryptocurrency

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.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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