MEXICO CITY / AGILITYPR.NEWS / March 12, 2025 / The third edition of the Crypto Landscape in Latin America report shows that cryptocurrency users are diversifying their portfolios with altcoins, memecoins, and other tokens, a trend that suggests greater confidence and experience in the ecosystem.

The 2024 report also highlights the growing interest in sophisticated trading, evidenced by the increased use of advanced tools such as Bitso Alpha.

The third edition of the Crypto Landscape in Latin America report presented by Bitso –the leading crypto-driven financial services company in the region– reveals that in 2024 the number of its Latin American clients grew by 12%. These customers are also expanding their investment horizons by diversifying their portfolios. This behavior has driven the adoption of more sophisticated strategies for digital asset management, with 38% of users including three or more cryptocurrencies in their portfolios.

In a context of high inflation and currency devaluation in several countries in the region, stablecoins (USDC and USDT) have become a store of value, accounting for 39% of total purchases, compared to 30% in 2023.

Bitcoin, on the other hand, represented 22% of cryptocurrency purchases, a shift from 38% in 2023, which can be attributed to its rising average price and the "Hold On for Dear Life" (HODL) investment strategy, where investors hold the asset long-term.

Altcoins such as Ether and Solana maintained their positioning, with 5% and 4% of the purchase volume, respectively, while interest in memecoins saw a significant surge. PEPE’s purchase preference increased by nearly 5 percentage points compared to 2023, and DOGE reached 2% of the purchase volume, whereas it previously did not hold a significant share.

Regarding XRP, there was a resurgence in its popularity in Latin America, reaching 9% of the purchase volume by the end of 2024, compared to 2023. This increase was primarily attributed to its utility for international transfers and renewed optimism following the U.S. election results.

"The diversification of portfolios, the growth of stablecoins as a store of value, and the exploration of new use cases not only reflect the maturity of the market in the region but also demonstrate how Bitso drives innovation to transform finance in Latin America. Our commitment is to offer increasingly solid products that allow our clients to build wealth and take control of their financial future, with Bitso by their side every step of the way," stated Daniel Vogel, CEO and co-founder of Bitso.

While the 25 to 34-year-old customer group remains the most active in cryptocurrency trading (34%), there is growing interest from older individuals. The trading activity of users aged 45 to 54 increased from 13% to 14%, and those aged 55 to 64 increased from 5% to 6%. This shift suggests a greater appetite for cryptocurrency investment among more mature users who may have more financial experience, a higher risk tolerance, and greater disposable income for investment after covering fixed expenses.

The report also highlights the increasing interest in sophisticated trading in Latin America, reflected in the growing popularity of Bitso Alpha, the app designed for trading with advanced charts and features. Despite having a smaller customer base, the transaction volume generated by Bitso Alpha is comparable to that of Bitso Classic, the app for users new to the world of cryptocurrencies.

Bitso Alpha users executed an average of 32 trades in December 2024, marking a significant shift toward more strategic trading. This suggests greater financial education, a higher risk appetite, and a deeper understanding of the crypto market.

TRENDS BY COUNTRY

In Argentina, inflation exceeding 100% and capital controls – though less stringent than in 2023 – drove the use of stablecoins as an alternative to the peso. However, a carry trade phenomenon was also observed, with users acquiring Argentine pesos to take advantage of favorable interest rates relative to the dollar. The customer base in Argentina grew by 11%, reaching 1.6 million.

In Brazil, regulatory clarity and a developing tech ecosystem have driven investor interest in crypto assets, particularly stablecoins, which accounted for 26% of purchases in 2024. This trend has been influenced by the depreciation of the real, ongoing stablecoin regulations, and the growing popularity of decentralized finance (DeFi). The total crypto customer base in Brazil increased to 1.9 million, a 6% growth.

In Colombia, stablecoins solidified their position as the primary choice, driven by some depreciation of the Colombian peso. They also served as an alternative for dollarization, given restrictions on holding U.S. dollar bank accounts, which require a minimum deposit of $5,000. Young people in Colombia are the demographic group adopting crypto at the highest rates, and the number of customers reached 500,000, with a 6% increase.

In Mexico, cross-border payments continue to drive crypto adoption, with Bitcoin and USDT being the main assets in a market where the peso’s 23% depreciation fueled stablecoin purchases within the crypto community. Mexico remains Bitso’s largest market, with 4.4 million customers, benefiting from international financial flows and a mature crypto ecosystem, reflected in a 13% growth.

Thus, Latin America is consolidating as fertile ground for crypto innovation, driven by the need for economic alternatives to navigate complex financial contexts and build wealth.

To access the full Crypto Landscape 2024 report, click here.