Bitcoin is the preferred crypto asset for crypto users, according to research.
The high values that surround Bitcoin make this cryptoactive an important source of investment due to the possibility of a good return, despite the high volatility. However, for most Brazilian users, this currency is also useful as a payment method.
It is worth noting that only El Salvador and the Central African Republic recognize Bitcoin as legal tender. Tonga is considering following what these two countries have done so far.
CoinPayments in Brazil
CoinPayments recently conducted a study on cryptocurrency payment methods in Brazil. Almost three-quarters (77%) of the payment transactions carried out with cryptocurrencies in the country involve Bitcoin. Ethereum, in second place, is far behind, with just over a quarter of the total.
Brazil’s increased interest in this cryptocurrency is explained by two main reasons. The first of these, of course, is tradition: Bitcoin was the first digital currency and, therefore, it is understood that it is synonymous with the sector. In addition, the great appreciation of recent years attracts users and companies to this ecosystem.
So much so that other surveys point to the popularity of Bitcoin among Brazilians. A survey by the Crypto.com exchange house indicates that 59% of the country’s users intend to acquire this asset in 2022. In addition, a study by Sherlock Communications states that almost half (48%) would like it to be the official currency of the country.
CoinPayments Plans in Brazil
“We have seen a great movement of acceptance of Bitcoin in the Brazilian market. More than an investment asset due to the possibility of financial return, it stands out as a form of payment. Especially in the current moment of digital transformation and economic uncertainty of the real”, says Rubens Neistein, Commercial Manager of CoinPayments.
It is a reflection of what is already happening out there. Visa research shows that one in four small or medium-sized businesses want to accept cryptocurrency payments. Pymnts released a report showing that 60% of US cryptocurrency owners were highly interested in using it for purchases.
With an eye on this demand, CoinPayments has a system that allows the company to receive transactions through Bitcoin and more than two thousand cryptocurrencies. It is enough for the organization to have a digital wallet to receive the values. All integration with the financial platform is done through API.
“Thus, the entrepreneur gains greater security in transactions, instant conversion, and savings in transaction fees. The user, in turn, receives in return the agility and efficiency characteristic of the world’s best-known cryptocurrency”, concludes Neistein.
By Audy Castaneda
