X

Henry from Virginia Beach

Signed up at ETH Casino 25 minutes ago.

» Try ETH 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
    Bitcoin continue to drop: Play here to have funBitcoin continue to drop: Play here to have fun
    Tuesday, 19 Mar 2024 11:18 pm
    If you are tired of the Bitcoins downfall and think like us - that it will continue to fall a bit - then Crypto Lists has a suggestion. Play some slots on one of the best crypto casinos in the world. Yes, we're talking about LTC Casino where you can be 100% anonymous and can play from most countries around the world. Meanwhile, the best new crypto casino site with a global reach and 100% VPN friendly and anonymous is called Cryptorino and is created by Scandinavians. Some of the biggest drops in the crypto market today include Solana that's down 15.7%, ETH is down 10%, BNB is down 9.4% and BTC is just below 62k now and is down 8.6% for the day. Near is down 11.4%, while LTC is down 9% and XRP is also...
    Read the full newsflash


    Use BTC casinos as hedge against bearish crypto downtrend?Use BTC casinos as hedge against bearish crypto downtrend?
    Tuesday, 12 Mar 2024 12:56 pm
    The stock and crypto market expected the U.S inflation to slow down in February from the March readings, but the forecast was wrong. Instead of lowered inflation to 2.9% that analysts estimated, the U.S inflation increased to 3.1% in February. How can you hedge against the potential bearish crypto trend? 1. Deposit BTC to Casino. 2. Get it converted to a USD balance. 3. Play. 4. Withdraw back to same payment method (BTC) and hopefully end up with more BTC than you started with? Three of our favourite alternatives are Cryptorino with a huge amount of games and 100% no KYC, BetPanda for all the big whales that enjoy generous cashback and the 100% anonymous LTC Casino. Disclaimer: Never gamble with money you can't afford to loose...
    Read the full newsflash


    Bitcoin smashes previous all time high: will it double soon?Bitcoin smashes previous all time high: will it double soon?
    Tuesday, 5 Mar 2024 5:48 pm
    For the first time in history, Bitcoin (BTC) has broken its all time high before the famous halving event. This Tuesday afternoon, UK time, Bitcoin eclipsed the previous November 2021 record of approx $68,000 to hit around $69,000 before dropping 5%. Will this downward trend continue? Only time will tell. However, others are incredibly bullish, saying that in three of the past four cycles it took under 20 days for the price to double. That friends, would be epic. Get involved on Coinbase and feel the excitment we're all feeling...
    Read the full newsflash


    Bitcoin breaks 50,000 GBP barrier in ATH push!Bitcoin breaks 50,000 GBP barrier in ATH push!
    Monday, 4 Mar 2024 9:05 am
    The world's most famous cryptocurrency, Bitcoin (BTC), has surged past 50,000 GBP (appox 63,300 USD) this morning, shattering its UK all time high dependent on the pound's decreased value since 2021. However, everyone is waiting for 69,000 USD as the real figure that brings out the champagne glasses. Nevertheless, this is still cause for celebration and anticipatory buzz, of course. If you want to get in on the Bitcoin party before it's too late then sign up to Crypto.com today and get ready for some epic ups and downs in this highly exciting space...
    Read the full newsflash


    Could BTC break its all time high before the halving?Could BTC break its all time high before the halving?
    Tuesday, 27 Feb 2024 7:31 am
    In an unprecedented turn of events, it looks like Bitcoin (BTC) could break its 2021 all time high of $68,789 much earlier than anticipated by many experts and casual traders alike. Many had assumed it would pull back before April's estimated halving event and 'go sideways' with minimal volatility for a while. However, it looks like the price is set to keep going up, perhaps preceding what some in the space refer to as a 'left translated cycle'. As of this morning CET the price was around $56,500. A left translated cycle is when the four-year cycle high happens earlier than expected, in this case in 2024 as opposed to 2025. Or, perhaps this could even be laying the groundwork for a 'supercycle' that sticks to the same approximate timeline as normal but goes two or three times higher than even optimistic observers estimate. Exciting and unpredictable times ahead. If you want to get involved then sign up for a Coinbase account and use your cards...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
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