Brazil and Spain are in the top 20 countries with the highest number of bitcoin users

Brazil and Spain are in the top 20 countries with the highest number of bitcoin users

According to CoinMarketCap statistics, Brazilians are among the most interested in cryptocurrencies so far in 2023.

  • The United States continues to lead in the ranking of users accessing the CoinMarketCap.
  • Bitcoin is more popular in Europe than in South America.

Brazil is in the top 20 countries with the highest adoption of cryptocurrencies globally, according to the results of an analysis published by CoinMarketCap, one of the leading websites for accessing cryptocurrency market information.

The report presented by CoinMarketCap Research, places the South American giant in fifth place among the countries with the highest levels of cryptocurrency users who accessed the platform during the first half of 2023.

It is also worth noting that Brazil is the only country in Latin America to be ranked among the top 20 in the study. A position that highlights the high level of adoption present in the country and which has been ratified in similar research.

In this regard, a Bitget survey recently revealed that 32% of Brazilians spend up to 15% of their income investing in cryptocurrencies. A higher investment figure than has been identified in countries such as Argentina and Mexico, explains the study.

Precisely because of the magnitude of this market, the Brazilian government passed a law to regulate the use of cryptocurrencies, as reported by CriptoNoticias.

Spain is also in the top 20 in terms of traffic on CoinMarketCap. The Iberian country is in 14th place in the ranking, with 2.92% of the platform’s users.

Within this group of countries, the United States dominates the distribution of cryptocurrency users worldwide, with 17% of traffic. Of the rest, the vast majority of users come from European countries.

Users in the United States are the most interested in bitcoin. Source: CoinMarketCap.

Interest in bitcoin surged in the second quarter of 2023

The report also reports on user preferences for different types of cryptocurrencies, with bitcoin (BTC) attracting the most attention.

The pioneering cryptocurrency “remains the most watched in all regions in the first half of 2023, a similar trend to Q4 2022, which is also reflected in BTC’s dominance over altcoins,” the study notes.

Thus, it reports a 25% increase in attention on bitcoin over the course of the last six months, rising from 40% at the beginning of the year to 50.3% at the end of June. An advance that is attributed to events such as BlackRock’s ETF filing and the upcoming bitcoin halving expected in March 2024.

And although in most regions of the world people prefer bitcoin over other cryptocurrencies, in terms of taste, Europe stands out, where interest is 52%. This percentage contrasts somewhat with what is happening in South America, the area with the lowest percentage of interest in BTC (39%) and the highest interest in Baby Doge Coin or BabyDoge (21.7%), an altcoin based on dog memes.

Regarding ether (Ethereum’s ETH) the study indicates that it “remains a popular currency of interest in most regions, except Asia and Africa”. It is also stated that Ethereum scaling solutions such as Polygon (MATIC) and Arbitrum (ARB) gained mainly attention in South America.

Source: criptonoticias

Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

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