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Argentines Jump to BTC Amid Inflation and Economic Crisis

CryptocurrencyMay 06, 2021 06:00AM ET
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Argentines Jump to BTC Amid Inflation and Economic Crisis

  • Argentina citizens are adopting Bitcoin amid the country’s economic recession.
  • Crypto trading accounts have increased up to ten times since last year.
  • There are currently over 2 million active crypto trading accounts in Argentina.

Argentina residents are turning to Bitcoin (BTC) in droves as they face price inflation amid an economic recession. Of note, this has increased crypto trading accounts by over ten times in the country since last year.

Talking about this, Binance director Maximiliano Hinz said,

“The number of user accounts for investing in cryptocurrencies has multiplied by ten in Argentina since 2020.”

Not Bitcoin alone, the Argentinians are also investing in many other cryptocurrencies including Tether, Ethereum, and Dai. Also, Argentina currently has more than two million active crypto trading accounts amid the growing popularity of BTC in the country.

This article was first published on coinquora.com

Continue reading on CoinQuora

Argentines Jump to BTC Amid Inflation and Economic Crisis
 

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