Brazil is – by a wide margin – the land of crypto optimists. Consumer preferences, a flexible regulatory environment, and a fluctuating macroeconomic context have propelled it to one of ...
Brazil is – by a wide margin – the land of crypto optimists. Consumer preferences, a flexible regulatory environment, and a fluctuating macroeconomic context have propelled it to one of the world’s most advanced crypto hubs. Brazilians also display remarkable resilience after 2022, displaying high levels of crypto-optimism balanced by increased diligence and caution. In many ways, Brazil is a shining example of learning lessons from mistakes and moving forward boldly.
Brazilian adoption is the highest of any other country surveyed.
Brazilians have the firmest long-term belief in crypto.
At the same time, Brazilians are the most cautious and perform the most due diligence when they select a crypto company.
Why is Brazil so resilient?
Higher pre-existing rates of fraud have conditioned Brazilians to approach finance (including crypto) with greater diligence than most. Shocks like the FTX collapse create greater damage when they come as surprises, but Brazilians generally seem to have learned from past bruises to protect themselves against the worst.
This ‘eyes wide open’ approach from consumers, regulators, and enforcement agencies communicates a clear message: Brazil will learn from its mistakes and build a better future. So far, it’s working.
““Brazilians tend to be early adopters of any new technology – especially for financial technologies. They understand that there will always be a learning curve and ups and downs along the way.”