In September, the Brazilian Tax Authority RFB set a new record for the amount of Brazilians who invested in cryptocurrency. According to its monthly reports, almost 1.5 million people purchased cryptocurrency in September. Since August, when just over 1.3 million individuals declared that they were crypto-investors in Brazil, the number has increased to almost 1.5million.
Brazilian Tax Authority registers almost 1.5 million crypto investors in September
Latam portfolios are increasingly choosing cryptocurrency as an option for investing. Brazilian Tax Authority RFB gave the numbers for cryptocurrency investments that were declared in November by taxpayers. This is a new record of crypto investors.
The institution received statements from independent holders as well as local exchanges that almost 1.5 million people invested in crypto over September. This is more than 10 percent increase over the August number of taxpayers who declared crypto holdings.
This is even more amazing when you compare it to September 2021, where only 424,524 bitcoin statements were received. The rise in cryptocurrency investment is an indication of crypto’s popularity.
USDT is the Most Popular Currency, BTC Has The Most Transactions
Although the market saw an increase in statements, September’s declarations were still lower than August’s. There were a record number of crypto currencies, which was not reached since August 2020. A historic first, one fifth of transactions in this report was completed by women.
Continuing the trends that have been reported in earlier months, bitcoin is still the cryptocurrency with the most transactions in the system, but Tether’s USDT, the dollar-pegged stablecoin, still registers the largest volume of funds negotiated. In September there were more than 2 million transactions in bitcoin. USDT, however, moved nearly seven times as many funds. However, USDT was concentrated in just over 100,000 transactions.
There are many options available to make tether a reliable payment and savings method in Brazil. Smartpay announced that it would offer USDT services to more than 24,000 ATMs. This will allow Brazilians the ability to convert the token into fiat currency.
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