Residents of Latin America have become more willing to invest in digital assets at a time of accelerating inflation. This was reported by the CEO of the cryptocurrency exchange Binance in Latin America Maximiliano Hinz.

According to him, several circumstances converged in these countries that led to an unprecedented demand for digital assets among the local population. First of all, accelerated inflation, which has pushed people to look for reliable tools to save their savings. Secondly, the increased value of the U.S. dollar, and third, the popularization of cryptocurrencies through celebrities and financial professionals.

The most illustrative situation, according to Hinz, is now happening in Argentina. Annual inflation in that country
is at the value of 90%. As statistics of registered users of Binance shows, most of all beginners comes from this country. Argentina is followed by Brazil and Mexico. These states are also experiencing some economic difficulties.

Finally, the head of Binance Latin America said that inflation is rising worldwide, so people are increasingly turning to cryptocurrencies, particularly bitcoin, as a way to protect against it.