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What will be the primary reason for increased cryptocurrency adoption in Argentina by the end of 2024?
2
Resolution / Starting Odds
Inflation • 25%
Lack of trust in traditional banks • 25%
Investment opportunities • 25%
Other • 25%
Surveys and studies from reputable sources like Forbes, Chainalysis, or local financial institutions
Story
Argentina Sees Surge in USDT Crypto Adoption Amid 276% Inflation, Highest in Western Hemisphere
Jul 8, 2024, 04:37 PM
Argentina, facing a staggering 276% inflation rate, has seen a significant surge in cryptocurrency adoption, particularly with USDT. A Forbes study reveals that Argentina is adopting crypto at 3.2 times its share of the global population, surpassing even the United States in percentage terms. The adoption is driven by citizens seeking to safeguard their savings as traditional assets, like beef, become too costly. However, the lack of regulation and reliance on untrustworthy exchanges pose challenges. Argentina now has the highest crypto adoption rate in the Western Hemisphere, highlighting the impact of its inflation-saddled economy.
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