Latin America’s crypto adoption rises 12% in 2024 according to Bitso report

The year 2024 marked a pivotal period for the cryptocurrency industry, characterized by significant milestones that reshaped market dynamics and prices, as highlighted in the Crypto Landscape in Latin America report by Bitso.

The report reveals significant growth in cryptocurrency adoption across the region, with a 12% increase in users compared to 2023. Mexico led with 13% growth, followed by Argentina (11%), Brazil (6%), and Colombia (6%). The report also notes a rise in users from other countries, up 18% year-over-year.

Stablecoins like USDC and USDT dominated transactions, accounting for 39% of crypto purchases, driven by their use as a hedge against inflation and currency devaluation. Bitcoin purchases dropped to 22%, while meme coins like PEPE and Dogecoin saw increased interest.

Older generations are increasingly participating in crypto trading, with users aged 45-54 rising to 14% and those 55-64 growing to 6%. Advanced trading platforms like Bitso Alpha saw higher activity, with users averaging 32 trades in December 2024, reflecting greater financial education and strategic investment approaches.

The report underscores crypto’s growing role as a financial tool in Latin America, with users diversifying portfolios and leveraging digital assets for economic resilience.