Argentina is the leading market by number of visitors to the world’s largest exchanges: USDT used as savings protection.
A new report by Forbes indicates that the Argentine population is increasingly accumulating USDT to preserve the value of their savings and combat hyperinflation.
Maximiliano Hinz, head of operations in Latin America for the Bitget exchange, noted the uniqueness of the Argentine market, where many users buy USDT on exchanges and hold it in their wallets without further transactions. In other cases, people purchase Tether with cash and hold it without using it for purchases or speculation.
With an inflation rate of 276%, cryptocurrency adoption in Argentina ranks among the highest globally. According to Chainalysis data, Argentina leads Latin America in cryptocurrency transaction volume, with an estimated $85.4 billion processed through July 2023. Argentinians are also active users of some of the world’s leading exchanges. According to SimilarWeb, 2.5 million visits out of 130 million to 55 of the largest cryptocurrency exchanges come from Argentina.
