Stablecoins, Bitcoin, Ether, Solana or Shiba Inu: What are the most popular cryptocurrencies in Argentina?
The popularity of cryptocurrencies as an investment alternative and a refuge against inflation has been growing throughout the region.
In the ranking of the most chosen in Latin America, Bitcoin is in first place, then Ether and Stablecoins -especially USDT and USDC- with more than 26% of acquisitions-, lead the monthly purchase preferences during the first half of this year. year, according to CryptoMarket , the leading cryptocurrency exchange platform in the region.
But, what are the most popular digital currencies in Argentina? Coming up next, we tell you:
USDT: This currency belongs to the category of stablecoins. The great feature of stablecoins is that they are pegged at 1:1 parity to traditional currencies like the US dollar.
Currently, these currencies have increased their market capitalization and have become a reliable option, since being designed to closely follow the value of the currency to which they are indexed, stablecoins maintain their prices with slight daily variations, such as is the case with assets such as the dollar or the euro.
According to CryptoMarket figures , USDT is the most chosen cryptocurrency in Argentina, with 38% of acquisitions. In the range of stable cryptocurrencies, the second in preference is USDC -which in the general ranking ranks fourth among the most chosen in the country behind Eth- and the third stablecoin is DAI.
Bitcoin: It is the first cryptocurrency in the ecosystem and the most popular in Latin America, with more than 40% market share. However, in Argentina it ranks second with 24% of acquisitions.
Bitcoin, also known as BTC, is a decentralized digital currency that can be used as a payment for goods and services and also as an investment instrument.
It is not necessary to buy 1 BTC, but fractions of Bitcoin can be purchased. One of its great advantages is its limited supply, which in the long term allows it to become a store of value.
Ether: Third in popularity in Argentina is Ether, the cryptocurrency of the open source platform Ethereum, with 14% of the acquisitions.
It was officially launched in July 2015 and is considered the second largest in the world market after Bitcoin. There are high expectations around this cryptocurrency due to the importance that blockchain technology and smart contracts are expected to acquire in the coming years, which makes it one of the preferred options for long-term investment.
Bonus track: trending cryptocurrencies
Solana: also known as SOL, it is the fourth most chosen cryptocurrency among Latin Americans and is in the top ten for Argentines.
It is focused on offering a high-speed network, with the capacity for parallelizable smart contracts and a low cost per transaction, without sacrificing security and with great scalability. Solana is a highly functional open source project that is based on blockchain technology to provide decentralized finance solutions.
In addition, it is recognized in the world of cryptocurrencies for the incredibly short processing times that its blockchain offers. It is also characterized by an environmentally friendly proposal: since a transaction consumes 18 times less energy than an LED spotlight.
Shiba Inu: It is a cryptocurrency created anonymously in August 2020 from a well-known puppy meme, it has been growing in popularity in Argentina, thanks to a community of investors captivated by the value of the project, as well as supportive tweets from personalities such as Vitalik Buterin (creator of Ethereum).
It is enabled within the Ethereum blockchain, so it has the security attributes of this blockchain. The Shiba boom made it position itself as one of the 20 most important cryptocurrencies in the world and in the region, while in Peru it currently ranks seventh in demand.