X

James from Philadelphia

Signed up at LTC Casino 25 minutes ago.

» Try LTC Casino too
Do not show again

While the majority of news outlets have been focusing on the upcoming election results in Brazil and Jair Bolsonaro losing his place in public office, there are other stories that are just as important. One interesting trend involves the growing popularity of cryptocurrencies throughout the country.

This might seen a bit counterintuitive at first glance. After all, why would a financially struggling population be keen to learn about crypto in Brazil? As many have difficulty making fiscal ends meet, the notion of diversifying a decidedly limited portfolio appears slightly odd. There are actually several reasons why currencies such as Bitcoin and Ethereum have begun to enjoy a growing presence. Let’s take a quick look at what the team at Crypto Lists has uncovered…

Keeping the Bears at Bay

It’s first important to take a look at this situation from a macroeconomic perspective. It is a well-known fact that Brazil is currently experiencing a volatile economic outlook. However, somewhat bearish undertones do not paint the whole picture. As Bloomberg note, Brazil is still outperforming its South American peers in terms of regional bonds as well as currencies (1). Citizens are likewise optimistic that the upcoming election results will lead to greater top-down financial responsibility.

In other words, many Brazilians are cautiously optimistic about what the near future may have in store. It stands to reason that those who possess the liquidity will therefore be looking to diversify as opposed to relying upon a banking system that has been less than transparent in the past. Although the short-term economic outlook is far from bullish, things may be about to improve.

Understandable Inflationary Concerns

Another point to mention involves the rampant inflation that Brazil has been grappling with in recent times. As of September 2022, this rate stood at 12% (2). Although this is not nearly as high as other South American nations such as Argentina, some consumers may still find it difficult to afford basic goods and services.

It stands to reason that individuals might be looking towards crypto in Brazil as a way to offset a weakening Real (R$). This is actually one of the most appealing aspects of the crypto markets in general, as they represent a viable means to counteract flagging domestic currency values.

Rating: 9.5/10
Supply: 18,925,000 / 21,000,000
Release date: January 3, 2009

Description: Buy Bitcoin, the world leading crypto and biggest in Brazil!

Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.


Upcoming Regulatory Transparency

One of the issues which has plagued crypto in Brazil recently involves a lack of market regulation. This made some skeptical about becoming involved, as they were afraid of falling victim to a “wild west” marketplace that could experience extreme bouts of volatility. The good news is that things look as if they’re about to change.

The Brazilian Senate Committee on Economic Affairs recently voted in favour of a new package known as the Crypto Regulation Bill. The main intention here is to provide a greater sense of transparency to the marketplace. In turn, this should attract more investors. Such a move makes a great deal of sense when we point out that demand for Bitcoin in Brazil and other digital currencies has exceeded conservative forecasts. This also brings us to the next main point.

Institutions are Beginning to Take Notice

Banks are always keen to attract new clients while keeping existing customers loyal. However, many institutions were somewhat reluctant to offer crypto-based services until recently. While it can be claimed that they were concerned about oversight, it’s just as logical to assume that they simply didn’t want to see customers transfer their money into the blockchain.

Still, many seem to realise that it has become impossible to stave off the inevitable. It is for this reason that major fintech institutions such as Nubank have rolled out services in order to cater to crypto-keen customers. Their “Nucrypto” platform currently offers Bitcoin and Ethereum as options. Other banks such as Mexican-based Bitso and international conglomerate Santander are now following suit.

An Undeniable Trend

There is no doubt that cryptocurrencies should continue to make their presence known throughout the Brazilian marketplace. In fact, a recent study found that an impressive 41% of those surveyed stated that they owned currencies such as Bitcoin (3).

Let’s still point out that regulatory hurdles will need to be overcome. Rampant inflation could likewise cause some consumers to hide their money underneath the proverbial “mattress” as opposed to learning towards the crypto markets. Either way, these digital transactions are here to stay.

Sources:

1. https://www.bloomberg.com/news/articles/2022-10-23/bruised-emerging-markets-find-lone-bull-case-in-volatile-brazil
2. https://stormgain.com/blog/cryptocurrency-adoption-grows-in-brazil
3. https://dailycoin.com/cryptocurrency-adoption-in-brazil-is-spurring-how-to-ensure-cyber-security/

by Our Certified Author
Bitcoin Newsflash
    When Bitcoin HODLing doesn't pay, is it time to play?When Bitcoin HODLing doesn't pay, is it time to play?
    Monday, 15 Jan 2024 2:24 pm
    Although the Bitcoin ETF has been priced in for quite some time, it looks like the epic bull run predicted for January might not come to fruition. In fact, some analysts have said that we might actually see a downturn between now and the halving (due sometime in April) to correct for the boost in price in the run up to the SEC's approval. In circumstances like this, many people find online Bitcoin casinos a great way to spend their crypto when HODLing isn't bringing in the big bucks. If you want to sign up to a casino that you can sign up to in seconds without any KYC then we recommend signing up to LTC Casino which is one of our firm favorites...
    Read the full newsflash


    Spin to win 1 BTC on Crypto Games IO todaySpin to win 1 BTC on Crypto Games IO today
    Wednesday, 8 Nov 2023 12:50 pm
    Want to experience a truly thrilling experience where anything could happen and there's 1 beautiful Bitcoin up for grabs? Does it sound too good to be true? Well your dreams can materialize with Crypto Games IO (review) and their magic crypto spin wheel. Played it before? No problem as you can do it once per day! And don't forget about their Tether welcome bonus of up to 20,000 USDT - and remember you can also use other crypto coins too if you'd prefer. What's not to love about this awesome new kid on the block? Sound like a casino you wanna give a spin? Play on Crypto Games IO now and experience a really cool Web3...
    Read the full newsflash


    Bitcoin jackpot opportunity at Crypto Games IOBitcoin jackpot opportunity at Crypto Games IO
    Thursday, 26 Oct 2023 12:33 pm
    Are you having too little Bitcoin (BTC)? Probably most of us think so, except Michael J. Saylor perhaps. But Crypto Lists have good news for you. The newly launched BTC Casino called Crypto Games IO (see review) have a surprise for secret players. You can spin the Bitcoin Jackpot wheel, where you can win up to 1 BTC, straight in your pocket. Sign-up now and give it a try - it's too good opportunity to...
    Read the full newsflash


    BTC bounces above $30k for first time since JulyBTC bounces above $30k for first time since July
    Monday, 23 Oct 2023 7:36 am
    In good news for Bitcoin maximalists and HODLers around the world, Bitcoin (BTC) has surged over the past 24 hours riding a profit wave all the way up to $30k+ for the first time in three months. Some big-name Twitter (X) analysts such as Bob Loukas think December could see rather large lows. Not going down as much as December 2022, but below $20k. Others think it should end the year strong at around the $30k price. Only time will tell. If you're keen to get your hands on some BTC then sign up to Coinbase now as it's a very easy to use platform that's good for both beginners and experienced...
    Read the full newsflash


    Bitcoin breaks $28,000 barrier as bullish trends brewBitcoin breaks $28,000 barrier as bullish trends brew
    Monday, 2 Oct 2023 6:11 am
    Bitcoin and the altcoins that follow in its wake has been on a surge this weekend, breaking the $28,000 barrier for the first time in well over a month. There are rumblings that an ETF may be approved in the coming months, which would see the price likely explode, however this jump is certainly not yet on that kind of scale. Where the price moves next is anyone'e guess, and the price has stabilized at the time of writing at 08:08 CET. Want to jump in and get involved with the world's biggest crypto coin? Sign up to Coinbase now and trade easily...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
  • Gorilla logo
     Gorilla
    ETHEREUM-TOKEN
  • Dynasty Wars logo
     Dynasty Wars
    SOLANA-TOKEN
  • Kaspa logo
     Kaspa
    NATIVE-COIN
  • IOTA logo
     IOTA
    NATIVE-COIN
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top