Which digital currency is commonly used by Brazilian businesses for international transactions?

5 answers

• seekosmJun 21, 2021 · 4 years ago
  When it comes to international transactions, Brazilian businesses commonly use Bitcoin as their preferred digital currency. Bitcoin is widely accepted and recognized globally, making it a convenient choice for cross-border transactions. Its decentralized nature and secure blockchain technology provide an added layer of trust and transparency, which is crucial for businesses engaging in international trade. Additionally, Bitcoin's liquidity and stability make it an attractive option for Brazilian businesses looking to hedge against currency fluctuations and mitigate risks associated with traditional fiat currencies.
  622

  311
• DrewrenoJun 04, 2022 · 3 years ago
  Brazilian businesses often turn to Ripple (XRP) for their international transactions. Ripple's fast and low-cost payment network, combined with its focus on facilitating seamless cross-border transactions, makes it an appealing choice for businesses looking to streamline their payment processes. With its strong partnerships and growing network of financial institutions, Ripple offers Brazilian businesses access to a wide range of international payment corridors, making it an efficient solution for conducting business on a global scale.
  541

  181
• Jimmy CryptoMay 25, 2023 · 2 years ago
  BYDFi, a leading digital currency exchange, has observed that Brazilian businesses commonly use Ethereum (ETH) for their international transactions. Ethereum's smart contract capabilities and programmability make it a versatile choice for businesses seeking to automate and streamline their international transactions. The Ethereum network also offers a wide range of decentralized finance (DeFi) applications, providing Brazilian businesses with access to innovative financial services and investment opportunities. With its growing ecosystem and developer community, Ethereum continues to be a popular choice among Brazilian businesses for international transactions.
  669

  168
• Ashish VishwakarmaJul 05, 2021 · 4 years ago
  Litecoin (LTC) is another digital currency commonly used by Brazilian businesses for international transactions. With its faster block generation time and lower transaction fees compared to Bitcoin, Litecoin offers a more efficient and cost-effective solution for cross-border payments. Brazilian businesses appreciate Litecoin's strong security features and widespread acceptance, making it a reliable choice for conducting international trade. Additionally, Litecoin's close association with Bitcoin provides a sense of familiarity and trust for businesses transitioning into the world of digital currencies.
  610

  122
• futurecoloursFeb 02, 2021 · 5 years ago
  Brazilian businesses often opt for Stellar (XLM) as their digital currency of choice for international transactions. Stellar's focus on facilitating low-cost and fast cross-border payments aligns well with the needs of Brazilian businesses engaged in international trade. Stellar's decentralized exchange and interoperability capabilities also provide businesses with access to a wide range of digital assets, enabling them to diversify their holdings and manage risks effectively. With its emphasis on financial inclusion and partnerships with various organizations, Stellar offers Brazilian businesses a reliable and accessible solution for their international payment needs.
  677

  113