- Argentinian embraces cryptocurrency technology.
- Cryptocurrency is less likely to be hit by inflation.
- Crypto space offers NFT, DeFi, and metaverse that benefit its users in the space.
The acceptance of cryptocurrencies in many countries keeps growing as days go by. Aside from El Salvador, the country of Argentina is also known for its people’s support of crypto assets and its blockchain. The decentralized feature of crypto is one of the reasons why the Argentinian community loves digital assets. It is also their way of getting free from the highly controlled currency of the Argentinian peso, according to various media sources.
These made Jerónimo Ferrer, a Bitcoin enthusiast react:
When you have restrictions, you need tools for freedom. I trust more mathematics and software than I trust politicians. I think that Bitcoin for Argentinians should be a no-brainer.
One of the characteristics of crypto assets that attract the citizens of Argentina is its ability to shield itself from inflation. It is no surprise that inflation is high in the country, and people are looking for ways to survive the high cost of living, which rises every year. Furthermore, Bitcoin and other crypto assets feature a mining mechanism where miners can earn crypto in the comfort of their homes, which is very helpful during the pandemic.
These things mentioned above are just some benefits that cryptocurrency can provide. In detail, the space also has DeFi, which lets its users earn while simply staking their tokens. In addition, users can immerse themselves in the NFT and metaverse space, technologies of the industry that are very hot topics today.
Regardless, the crypto-verse is also prone to volatility and wild market swings. It can also be abused if not managed well. Hence, it is up to the investors how they will handle their crypto assets. At the time of writing, the whole crypto market capitalization amounts to almost $2 trillion, with Bitcoin being the number one crypto that trades more than $40k per token.