A recent report by Chainalysis reveals that Latin America prefers centralized exchanges.
According to a recent report from blockchain analytics firm Chainalysis, Latin America has an inclination toward centralized exchanges over decentralized exchanges compared with the rest of the world.that Latin America has the seventh-largest crypto economy in the world, trailing the Middle East and North America , Eastern Asia and Eastern Europe.
The worldwide average for preferences regarding crypto platforms stands at 48.1% for CEXs, 44% for DEXs and 5.9% for other decentralized finance activities.However, in Venezuela, the preference for CEXs is significantly higher at 92.5%, while DEXs have a much lower 5.6% preference., primarily attributed to a “complex humanitarian emergency.“
On the other hand, Colombia shows a 74% preference for CEXs, while DEXs account for just 21.1% of their preferences.
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