69% of cryptocurrency users in countries like Brazil and India choose to convert their local currency into stable cryptocurrencies

According to Jesse Knutson's article, data from Castle Island Ventures shows that in countries such as Brazil, Nigeria, Turkey, Indonesia and India, 69% of cryptocurrency users convert their local currency into stablecoins.

Jesse points out that compared to traditional ways of obtaining dollars, they prefer to use stablecoins because they are more efficient, less likely to be interfered with by the government and have potential for earnings.

Stablecoins provide almost instant dollar access channels for users with internet connections and virtually no transaction fees. This is particularly important for those who face double-digit or even triple-digit inflation every day.