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The high level of inflation and the consequent deterioration in the value of the peso motivate Argentines to look for alternatives to preserve the purchasing power of their salaries. In this sense, the dollar blue It was traditionally a common choice for savers. However, now a digital alternative is emerging with force that continues to grow. It is the call crypto dollarwhich is an asset that is gaining acceptance for its several advantages over the “informal” banknote operated in the caves.
Many savers believe that The crypto dollar surpasses the blue dollar in advantages. Among them, the possibility of buying it at any time through reliable digital platforms stands out, so legal, from your cell phone, and without the risk of receiving counterfeit or damaged dollar bills. Furthermore, the crypto dollar It is frequently found in a price level similar to that of dlar blue and to the MEP dollar.
The crypto dollar attracts more Argentine savers
Argentina is the country in Latin America in which the most crypto dollar is bought and hoardedan investment modality that allows access to the US currency through digital assets fixedly linked to its price.
This was confirmed by a recent study by the Bitso exchange, which analyzed the behavior of its more than 8 million users during the second half of 2023.
According to Bitso, Argentines appreciate the security and the stability versus profitability and speculation when it comes to cryptocurrencies. Due to this, 60% of the operations carried out in the country correspond to stablecoins either “stablecoins“, which are crypto assets that maintain a parity with the dollar or other currencies. In return, the Bitcointhe most popular and volatile cryptocurrency on the market, represents only 13% of transactions.
Bye to the blue dollar: what free currency do Argentines choose
Meanwhile, a report released by the platform Lemon indicated that 80% of cryptocurrency purchases in Argentina during 2023 were stablecoins or digital dollar. Likewise, it revealed that the crypto dollar most chosen by its users is the USDT, also known as Tether. Other types of digital dollar that are operated intensively in the country are DAI and USDC.
“Crypto has become an indispensable tool for those seeking to maintain their assets in cryptocurrencies to protect themselves against devaluation and cover their monthly expenses without the need to use multiple platforms or tools,” they noted from the platform.
Bye to the blue: salary is now used to buy crypto dollar
Likewise, Bitso reveals that Argentines usually convert your salaries into crypto dollar They barely charge them, as a strategy to preserve their value in the event of a possible devaluation. “We observed a 10% increase in trading volume in the first week of each month, with the digital dollar leading transactions. This pattern is aligned with the salary payment date,” stressed Julin Colombo, General Director of Bitso Argentina .
The growing trend in the adoption of stablecoins is evident in the distribution of the crypto investments of Argentines. Although Bitcoin predominates with 48%, the crypto dollar It is positioned in second place with 26%, followed by Ethereum with 14%.
Argentina stands out from other Latin American countries in its preferences related to cryptocurrencies. That digital dollar and stablecoins have a more prominent role and constitute 30% of crypto purchases in the second half of 2023. In contrast, in Mexico and Brazil, stablecoins barely represent less than 10% of the total, and local currencies predominate in investments. .
