Cryptocurrencies are becoming increasingly popular in Brazil, which saw an increase of 6 million users in 2021. While the crypto-craze seems to manifest itself in the country, big players like Binance are entering the market. So it is no surprise that over 12,000 companies in brazil declared in their August tax filings to hold cryptocurrencies.
Increasing trust in crypto
Amid surging inflation rates, crypto gained more trust among investors, with a 6.1% increase in August among Brazilian companies invested in virtual currencies. This increase marks a new all-time high for the country’s crypto industry, with Bitcoin (BTC) and the stablecoin Tether (USDT) among the most popular currencies held, according to Brazil’s tax authority Receita Federal do Brasil (RFB).
Bitstamp’s September report also indicated that 77% of Brazilians trust digital assets – a clear sign of decreasing trust in traditional finance and investments.
The intriguing numbers attract not only market leader Binance but also crypto startups such as Oryen Network. The staking platform is convinced a presence in the country through partnerships, marketing, and collaborations will benefit its growth and stability.
ORY is the token that powers Oryen’s Autostaking Technic (or short OAT) and gives holders a daily return on their investment of 0.177%. Moreover, the platform uniquely guarantees this yield, accumulating to a 90% APY.
To enjoy this lucrative passive income, holders of ORY do not need to interact with complex staking contracts or decentralized applications (short dApps). Instead, the OAT mechanism automatically stakes the tokens and distributes the dividends hourly.
Interestingly, the DeFi startup shields its platform from volatile market situations via a so-called RFV (Risk-Free-Value) wallet and a backup treasury.
Overall, Oryen Network believes a push onto the Brazilian market will increase demand drastically in ORY, and as a result, its currently started presale will sell out in no time.
Final thoughts
Crypto sees a big push in Brazil, with increasing adoption, even from institutional investors. Of course, more prominent industry participants aim to get a piece of the cake, but smaller startups also position themselves to convince Brazilians of their products. For example, Oryen Network eyes bringing its auto-staking and auto-compounding technology to Brazil.
Learn More Here:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
Telegram: https://t.me/OryenNetwork
Discord: https://discord.com/invite/jSvaXmb2cB
Twitter: https://twitter.com/oryennetwork
