Crypto Usage in Latin America

A deep dive into crypto consumers in selected countries: how they acquire and spend crypto

In 2022, despite the crypto winter, collapsed crypto prices, and the bankruptcies of several global exchanges, new opportunities surged for companies trying to expand their business models through crypto in Latin America, where adoption of crypto has proven to behave independently of the industry’s global fluctuations. We see adoption of remittances, loyalty programs and crypto rewards, and even virtual offices in the metaverse. This was especially the case for payment providers around Latin America.

Crypto Usage in Latin America

With this in mind, AMI is unveiling the results of a detailed new study on how Latin Americans are using cryptocurrencies.

Besides tracking the potential growth of crypto adoption in Latin America, which has potentially risen to 18% as of November 2022, AMI’s crypto team profiled how LatAm cryptoconsumers are behaving. All data is also broken down by specific markets: Argentina, Brazil, Colombia, México, Perú, and Chile.

Here’s a look at key features of Crypto Usage in Latin America.

Overall Crypto Strategic Data:

  • Cryptocurrency purchase frequency of LatAm consumers
  • Their preferred payment method to buy crypto, broken down by P2P transactions and crypto exchange platforms
  • What Latin Americans spend cryptocurrencies on (investing vs stablecoins vs using for cross-border transactions and more)

Crypto as a Payment Method in Real-World Commerce

  • How many Latin Americans use debit cards linked to a crypto account
  • How they transact with crypto when making in-store purchases
  • How they spend crypto to buy gambling products, video games and to make purchases within the metaverse

Latin America Crypto-consumers and the Metaverse Experience

  • Percentage of LatAm crypto consumers that are users of a metaverse platform
  • How important is for them to buy NFTs
  • How many of them have ever received crypto as a reward in a gaming or gambling platform

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With 25+ years of experience handling more than 3,000 engagements in a wide range of industries, AMI is the leading market intelligence firm in Latin America. Its analysts specialize in providing clients with ground level intelligence that aids their decision making as they strive to achieve top line growth, mitigate risk and optimize performance. AMI’s most sought-after services include competitive intelligence, consumer insights, risk assessment (political, economic, local community), market share analysis, opportunity benchmarking, brand awareness studies and much more. Explore more at AMI’s website.

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