KuCoin’s Into The Cryptoverse Report Reveals that 53% of Brazilian Crypto Investors View Cryptocurrency as a Reliable Storage of Value

VICTORIA, Seychelles–(BUSINESS WIRE)–The KuCoin global cryptocurrency exchange has released the Into The Cryptoverse Report dedicated to the adoption of cryptocurrencies and decentralized technologies across the market of Brazil. The report highlights that the inflation in the country, which doubled over the past year to 10% annually, has contributed in large part to the transition of local users to cryptocurrencies as a store of value and means of payment.

The Into The Cryptoverse Brazil Report underscores that the 34 million strong layers of the unbanked or underbanked population of adults in the country are largely represented by young people, those living in rural areas, or receiving low salaries.