Over 31% of People in Latin America Want to Invest in Bitcoin

Despite being an underdeveloped region, Latin America is setting an example for the rest of the world in terms of adoption, trade and interest in cryptocurrencies.

A recent survey revealed that more than 30% of Latinos are interested in investing in crypto, either to increase their wealth or at least to invest in times of economic instability.

The study, conducted by Sherlock Communications, included a survey of more than 2,200 people in Argentina, Brazil, Colombia, and Mexico to understand their attitudes towards cryptocurrencies and other digital assets.

According to the results shared, between 31% and 39% of respondents across four countries, participants said they were “much more interested” in investing in Bitcoin after experiencing the consequences of the COVID-19 pandemic. In comparison, another 35% to 51% of respondents said they were “a little more interested” now. However, most people do not invest in Bitcoin or other cryptocurrencies because they lack sufficient knowledge of digital assets.

Respondents saw a significant gap in the region in terms of cryptocurrency adoption and favorable legal conditions. Argentina takes the lead in this pessimistic view, with more than half of the population considering it lagging behind other countries.

Other countries — such as Brazil and Colombia — feel “they are progressing”, in this area. This is the second most popular answer with 28% of the total responses.

Another interesting fact is that most respondents (43% – 51%) agree that cryptocurrencies will eventually facilitate the exchange of money internationally, and a slightly smaller segment (32% – 46%) believe that this technology will eventually replace fiat currencies. .

On the other hand, Bitcoin is highlighted as the most famous cryptocurrency with 86% to 92% recognition. Far behind, Ethereum is the second most popular name on the list, with only 26% to 29%.

It’s Great For Bitcoin and Other Blockchains in General

The political-financial situation in Latin America is perfect not only for Bitcoin and other types of cryptocurrencies, but also for the improvement of decentralized applications. Colombia, Peru, Chile, and Brazil are currently experimenting with using blockchain-based solutions to optimize their administrative systems, making them resistant to corruption. On the other hand, Venezuela and Colombia lead the world alongside Russia in terms of trade and P2P 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 to many macro problems and the study is a reflection of this reality:

These results encourage cryptocurrencies and blockchain-based applications to be launched in Latin America, and for Latin Americans who are feeling the effects of the current economic crisis. Lack of trust in government, economic instability, inflation, desire for transparency, millions of people are unbanked or economically neglected. List the problems the blockchain is trying to solve: It is here

Luiz Hadad

Source: https://cryptopotato.com/30-percent-latin-america-interested-investing-crypto/

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