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Brazilians become the top users of a crypto-centric financial services

Cryptocurrency

Brazilians represent 25% of users of a Swiss BTC trading platform. From a total of 50,000 users, 12,500 are from Brazil. The application used is called Aximetria, a fintech that offers cryptocurrency exchange and peer-to-peer (P2P) transfers.

According to the company, most Brazilian players are male, 95%, and aged between 34 and 38 years. According to the fintech press office, the number of local users has been growing at around 30% per month.

According to the data sent, they use all the platform functions – international transfers, cryptocurrency wallet and the protection of the savings function. With this, the cryptocurrency holder can exchange BTC or ETH for stablecoins and keep their funds in Euro and Dollar.

Geographically, the app is used by 20% of people from Sao Paulo, 12.5% ​​from Curitiba and 7.5% from Rio de Janeiro. 60% of users are spread across several Brazilian cities. 55% downloaded the app for android and 45% for iOS.

The company recently announced that it has transitioned from charging low-to-zero rates to all in-app services, which has made the service even more interesting.

According to a note sent to Bloomberg, Aximetria says that this way has eliminated the biggest problems for those who trade cryptocurrencies.

Alexey Ermakov, founder and CEO of Aximetria said,

“The most limiting factor of mass adoption is still the cost of service, which makes cryptocurrency too expensive to compete with new banks like N26,” 

According to the news, Fintech after the analysis found that if free transactions were offered, the number of customers who would complete the transactions would increase by nearly 300% over economically powerful customers who can pay the existing commissions.

 

 

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.