Annual crypto adoption development in Argentina 2020-2023, by metric

Published by
Raynor de Best,
Mar 26, 2024
In 2023, Argentina was close to reaching the top 10 of the world when it comes to crypto adoption based on transaction volume. This is according to estimates based on web traffic toward individual websites that are used to perform cryptocurrency transactions. A significant stand-out for Argentina, when compared to countries like Brazil or Mexico, is the importance of P2P exchanges. The South American country is known to receive millions worth of remittances and industry experts believe this practice impacts the use of crypto in Argentina.

Crypto Adoption Index ranking of Argentina from 2020 to 2023, by metric

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Source

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Release date

October 2023

Region

Argentina

Survey time period

July 2020 to June 2023

Special properties

Ranking (1 = highest, 146 = lowest); Weighted by purchasing power parity (PPP) per capita

Supplementary notes

The source explains that its index is calculated using five different sub-indices, which are estimated using an individual country's cryptocurrency transaction volume in different situations. These estimates are based off web traffic patterns from individual websites that are used for such transactions and/or protocols.

Several changes were made to the source's methodology over the years. In 2022, the main change involved the inclusion of Decentralized Finance (DeFi) transaction volume. Centralized and Decentralized sub-indices both count equally to the overall index.

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Overview

3

Users

3

Market cap

5

Trading

4

Adoption

3

Exchanges

6

Wallets

4

Energy

3

Fraud

3

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Topics

Crypto paymentsCrypto marketCrypto funds CBDC (Central Bank Digital Currencies)Decentralized Finance (DeFI)
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