Economic downturn fuels Argentine crypto craze

The number of user accounts for investing in cryptocurrency has multiplied by 10 in Argentina since 2020, says the Latin American director of Binance, the world's largest cryptocurrency exchange by trade volume. – EPA pic, May 4, 2021.

ARGENTINA’S economic downturn, with high inflation, a deflating currency and a shortage of US dollars to invest in, has in fact proved a shot in the arm for one sector: cryptocurrency.

As they seek safe havens for their dwindling nest eggs, Argentines – used to buffering against economic crises – have been putting their money into Bitcoin, Tether, Ethereum or Dai.

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