Argentina Bitcoin Adoption Surges as ByBit Card Debuts

Joshua Ramos
Source: Coincu News

A country that thrives on the growing crypto market, Argentina has seen its Bitcoin adoption surge as the ByBit card officially makes its debut. The country has continued setting a trend as a hub for digital assets. Moreover, Forbes reveals the nation lead the Western hemisphere in crypto adoption through their 276% annual inflation rate.

Adoption of Bitcoin and other cryptocurrencies is higher in Argentina than anywhere else in the Western Hemisphere, the report stated. Additionally, 55 of the largest cryptocurrency exchanges worldwide saw 130 million visitors, with a remarkable 2.5 million of those coming from Argentina, according to SimilarWeb.

Also Read: Argentina & Cardano Announce Partnership That Could Drive ADA

Argentina Crypto Adoption Soars as It Becomes a Top Market

Source: Stratfor

In December of 2023, Bitcoin became an official legal currency in Argentina. The country followed similar action taken by nations like El Salvador, who made the leading digital asset legal tender in 2021. With the election of Javier Milei in December, the country has only increased its willingness to accept BTC.

That has shown in Argentina’s overwhelming Bitcoin adoption surge. The country has emerged as a top market for Binance. The nation accounts for 6.9% of all total web traffic to the exchange, SimilarWeb reports.

us dollar usd argentina president javier milei brics peso
Source: AP

Also Read: Bitcoin: Argentina and El Salvador Engage in BTC Adoption Talks

An interesting aspect of Argentinian crypto investors is their focus on US dollar-backed stablecoins. Maximiliano Hin, Bitget’s Head of Latin America, noted the unique approach by citizens. “Argentina is an anomalous market where many people buy USDT and don’t leave room for much else,” he said.

“We don’t see this elsewhere. Argentines buy spot Tether and don’t do anything with it.” This is likely because of the country’s focus on the greenback. Moreover, their currency concerns allow a stablecoin to emerge as a prominent and profitable investment.

ByBit Card Makes Its Argentina Debut

Bybit Pulls Out of Canadian Market in Response to Evolving Regulatory Landscape
Source: Forkast News

Following its recent growth to become the world’s second-largest crypto exchange, ByBit has recently debut its very own card in Argentina. Indeed, its debut is a critical moment to bridge the gap between everyday financial needs, and the digital asset market.

“The introduction of the ByBit card to Argentina signifies an important milestone for both ByBit and the local community,” the exchange’s director of sales and marketing, Joan Han, said.

Also Read: Bybit Becomes Second Largest Crypto Exchange

They noted that the country’s “rapid growth,” led to increased demand. The card provides its users with a “unique opportunity,” Han says. They can find benefits in two ways. First, they are able to gain from the growth of the industry. Yet, they can also enjoy, “the convenience of everyday spending,” using the newly debuted card.