75% of Brazil’s 34.5 Million Crypto Investors Are Monthly Buyers: Report

Key Insights:

• Over 34.5 million people in Brazil have been identified to be cryptocurrency investors.
• About 53% of investors treat cryptos as a long-term investment, while 40% view it as a cash cow.
• The Brazilian Real’s depreciating value is increasing interest in cryptocurrencies in the country.

KuCoin’s latest report on crypto consumers – Into The Cryptoverse – highlighted the state of cryptocurrencies in one of the biggest countries in the world.

The findings make it apparent that it’s not just the developed countries who look at crypto as financial liberation, but that sentiment is actually shared more amongst the population of an under-developed country.

Crypto Grows in Brazil

With over 212.5 million people, Brazil is the sixth biggest country by population. Naturally, it becomes interesting to know how many of these people are actually versed in crypto.

The answer, surprisingly, is more than that of the United States. While over 16% of all people in Brazil are invested in cryptocurrencies, the United States has only 13% of its people doing the same.

Interestingly, 53% of Brazil’s 34.5 million crypto investors consider cryptocurrency as an investment vehicle and a reliable store of value. Whereas about 40% of them only look at it as a way of mining profits, but out of noble intentions of improving their living conditions. 

The impact of crypto has been such that about 75% of these investors buy cryptocurrencies every month.

But this impact has influenced people to the extent that 64% of the 34.5 million investors intend to increase their cryptocurrency investment within the next six months.

But this adoption of cryptocurrencies hasn’t been as old as one might expect it to be. According to the report, of the surveyed individuals, only 33% of the people have been trading cryptocurrencies for more than a year.

The remaining 67% of the traders have only been involved since April 2021

However, this growth over the last year sparked an interest in the people of Brazil, men and woman alike, which is how we are seeing the gender gap close.

At the moment, 63% of the investors happen to be men, and 37% of them are women. Still, women account for being more curious about cryptocurrencies representing 56% of the lot. But as dependence on crypto grows, these figures will rise as well.

As it is, investors are allocating about 40% of their earnings on an average to cryptocurrencies, with 16% of investors even allocating more than 90% of their money towards crypto.

Thus, the financial revolution in Brazil is only going to be fuelled further as crypto becomes more mainstream.

Crypto Around the World

While Brazil is a budding hotspot for crypto investment, it is still far behind when it comes to profits.

As reported by FXEmpire, the top 10 countries that have realized the most gains thanks to cryptocurrencies do not even include Brazil.

Led by the United States of America with $46.9 billion in profits, the report claims the UK to have witnessed the second-highest gains in 2021, followed by Germany, Japan, and China.

Brazil only managed to realize gains worth $2.5 billion, with most of it coming in the form of Ethereum and Bitcoin. 

Investors hailing from Brazil, thus, might be able to put the country higher up on the list next year since crypto adoption in the country is growing pretty quickly.