Chainalysis: Latin cryptocurrency market is one of the largest in the world
Large companies regularly collect statistics on the rate of development of the cryitoindustry around the planet. This is useful, because understanding the current specifics of advanced payment instruments, you can improve the solutions offered to customers. And one of those analyst companies is Chainalysis. Surprisingly, judging by the published report of this company, Latin America is the second region in terms of blockchain development rates. It is in Latin America that they introduce ready-made solutions and develop their own solutions. It is worth saying that the local cryptoindustry really deserves attention. That is why below we will tell you everything you need and can learn about the Latin cryptocurrency market.
Who is behind the research. Specific figures
Chainalysis is a well-known firm in the modern crypto industry. The company provided statistics, according to which it can be concluded that Latin America is the second region in terms of the number of transfers. Local countries account for about 10% of all global industry traffic. Users actively transfer value using a wide variety of cryptocurrencies. According to published information, about $ 25 billion has come to Latin America since September last year. Users withdrew about $ 24 billion from the country. Of course, the amounts were passed in cryptocurrency.
The region has surpassed Africa and the Middle East in terms of development rates and the number of transfers. It is noteworthy that cryptocurrency is actually not produced in Latin America. Let’s not hide the fact that this is a rather poor region, whose inhabitants are rarely involved in mining. The ruling elites with the necessary resources also do not see the blockchain as a reliable source of income. That is why cryptocurrencies are used exclusively as a means of payment and only by a narrow group of the population.
The center of local traffic is Mexico. A beautiful country, unfortunately, is a fairly large breeding ground for crime. Crime in the state is really at a high level, moreover, many fraudsters travel outside Mexico to illegally earn money abroad. And also using cryptocurrency. We have already written about how cartels and mafia use digital assets. Now is not about that. In Latin America, there are still many talented entrepreneurs and enterprising programmers. The latter cooperate with large companies from the East. Chinese firms, according to statistics, have invested huge amounts of money in the region. Most of the funds were transferred in BTC equivalent.
Is there a future for the Latin cryptocurrency market?
We have no doubt that yes. Local residents are once again faced with a crisis, government default and the collapse of national currencies. This is why many citizens are starting to look for alternative tools. Those tools that will feed their families and will not disappear with the change of president. Cryptocurrencies are the solution. Digital assets are stable and regularly help Latin users to save and increase their own money. Moreover, individual educated and advanced coin holders are deploying their own digital companies to promote the entire market. You can already invest in some sites of the Latin region. One has only to choose a suitable project and successfully invest money. But for this you need to stay abreast of all the events of the critical industry.
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