A recent survey revealed that more than 30% of Latinos are interested in investing in cryptocurrency
According to a survey from Sherlock Communications, based on the size of more than 2,200 people in Argentina, Brazil, Colombia, and Mexico, it seems that more than 30% of Latinos are interested in investing in cryptocurrency. Thus, 1 in 3 people in Latin America is interested in cryptocurrencies. But many people won’t invest until they really understand them.
Over 31% of people in Latin America Want to Invest in Bitcoin and cryptocurrency
Despite being an underdeveloped region, Latin America is an example to the world in terms of cryptocurrency adoption, trading, and interest.
According to the results shared, between 31% and 39% of respondents in the four participating countries said they were much more interested in investing in Bitcoin after experiencing the aftermath of the COVID-19 pandemic. Meanwhile, 35% to 51% of respondents say they are a little more interested now. However, most people don’t invest in Bitcoin or any other cryptocurrency because they lack adequate knowledge about them.
Respondents noticed a significant gap in the region in terms of cryptocurrency adoption and favorable legal conditions. Argentina takes the lead in this pessimistic stance, with more than half of the population saying the country is lagging behind other countries.
Other countries – Brazil and Colombia, for example – feel they are making progress in this area. This is the second most popular answer with 28% of the total responses.
Another interesting fact is that most of the respondents (43% – 51%) agree that cryptocurrencies will eventually facilitate international currency exchanges and a slightly smaller fraction. (32% – 46%) believe these technologies will eventually replace fiat.
On the other hand, Bitcoin is rated as the most popular cryptocurrency in the region, with a level of recognition ranging from 86% to 92%. Far behind, Ethereum is the second most popular name on the list, with only 26% to 29% recognized depending on the country.
The political-financial situation in Latin America is not only perfect for Bitcoin and other cryptocurrencies, but also the proliferation of decentralized applications. Colombia, Perú, Chile, and Brazil are currently experimenting with using blockchain-based solutions to optimize their administrative system, making it resistant to corruption. On the other hand, Venezuela and Colombia lead the world after Russia in terms of P2P transactions and adoption.
For Luiz Hadad, a popular blockchain consultant in Latin America, Latin America is a great case study for those interested in developing decentralized solutions for a lot of macro problems and the study is a reflection of this reality:
“These results are encouraging for cryptocurrencies and blockchain-based applications seeking to be launched in Latin America, and for Latin Americans who are feeling the effects of the current economic crisis. Lack of trust in governments, economic instability, inflation, desire for transparency, millions of people unbanked or economically neglected. Name the problem that blockchain is trying to solve: We have it here.”
Latin America is a very heterogeneous region, with diverse cultures and political systems, but it seems that no matter how different people think, every day more eyes are turning to Bitcoin and the crypto revolution. And Bitcoin doesn’t care about nationalities.
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