Frequent queries appear on major search engines about “buy cryptocurrenciesdue to their growing popularity throughout Latin America. In Argentina, which are the most important? Regarding this, from CryptoMarket they shared their vision with Cointelegraph in Spanish.
“Cryptocurrencies as an investment alternative and a refuge against inflation have been growing throughout the region. In the ranking of the most chosen in Latin America, Bitcoin is in the first place, then Ether and Stablecoins (especially USDT and USDC with more than 26% of the acquisitions), lead the monthly purchase preferences during the first half of this year”, they assured from CryptoMarket.
What are the most popular digital currencies in Argentina according to CryptoMarket?
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USDT: This currency is located in the stablecoins category. The most important feature of crypto stablecoins is that they are pegged at 1:1 parity with traditional currencies like the US dollar. “Currently, these currencies have increased their market capitalization and have become a reliable option, since being designed to closely follow the value of the currency to which they are indexed, stablecoins maintain their prices with slight daily variations, such as it happens with assets like the dollar or the euro” they explained from CryptoMarket and added: “According to our figures, USDT is the most chosen cryptocurrency in Argentina, with 38% of acquisitions. In the range of stable cryptocurrencies, the second in preference is USDC (which in the general ranking ranks fourth among the most chosen in the country behind Eth) and the third stablecoin is DAI”.
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Bitcoin: “It is the first cryptocurrency in the ecosystem and the most popular in Latin America, with more than 40% market share. However, in Argentina it ranks second with 24% of the acquisitions. Bitcoin, also known as BTC, is a decentralized digital currency that can be used as a payment for goods and services and also as an investment instrument. It is not necessary to buy 1 BTC, but fractions of bitcoin can be purchased. One of its great advantages is its limited supply, which in the long term allows it to become a store of value.” they remarked from the platform.
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ether:In third place of popularity in Argentina is Ether, the cryptocurrency of the open source platform Ethereum, with 14% of the acquisitions. It was officially launched in July 2015 and is considered the second largest in the world market after Bitcoin. There are high expectations around this cryptocurrency due to the importance that it is expected to acquire blockchain technology and smart contracts in the coming yearswhich makes it one of the preferred options for long-term investment”, they highlighted from the exchange.
Bonus track: trending cryptocurrencies
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Solana: “Also known as SOL, it is the fourth most chosen cryptocurrency among Latin Americans and is in the top ten for Argentines.. It is focused on offering a high-speed network, with the capacity for parallelizable smart contracts and a low cost per transaction, without sacrificing security and with great scalability. Solana is a highly functional open source project that is based on blockchain technology to provide decentralized finance solutions. In addition, it is recognized in the world of cryptocurrencies for the incredibly short processing times that its blockchain offers. It is also characterized by a friendly proposal with the environment; since a transaction consumes 18 times less energy than an LED bulb” highlighted from CryptoMarket.
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Shiba Inu: “It is a cryptocurrency created anonymously in August 2020 from a well-known puppy meme., has been growing in popularity in Argentina, thanks to a community of investors captivated by the value of the project, as well as supportive tweets from personalities such as Vitalik Buterin (creator of Ethereum). It is enabled within the Ethereum blockchain, so it has the security attributes of this blockchain. The Shiba boom made it position itself as one of the 20 most important cryptocurrencies in the world and in the region, while in Peru it currently ranks seventh in demand”, they concluded from the company in their analysis.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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