30% of Latin-Americans Want to Invest in Bitcoin
There is no secret that Latin America is one of the undeveloped regions, still, it gives an example for the world's leading countries in interest, adoption, and trading digital assets. Around 1 out of every 3 people in Latin America are interested in digital currencies. But they don’t want to invest until they fully understand crypto.
Latinos Love Bitcoin
A recent study, commissioned by Sherlock Communications, includes a survey of more than 2,000 people in Argentina, Brazil, Colombia, and Mexico that shows their interest in Blockchain and digital currencies.
The study has shown that more than 30% of Latinos are willing to invest in cryptocurrency mainly for two reasons. It is either to improve their financial situation or to keep its value in times of economic imbalance.
The results of the study reveal that between 39% of Latinos admitted they were “much more interested” in investing in BTC after facing the effects of the coronavirus pandemic. Another 51% of respondents said they were “a little more interested” now, but still many don’t invest in digital coins only because they lack knowledge about cryptocurrency.
However, half of the population from Argentina considers their country as one of the lagging behind compared to other nations in terms of crypto adoption. Unlike Argentina, 28% of respondents from Brazil and Colombia think “they are progressing” in the crypto industry.
Crypto will replace Fiat
An interesting fact is that 51% of Latinos consider digital coins to eventually help the money exchange on the international level, and 46% think that cryptocurrencies will replace fiat one day.
To conclude the survey, Bitcoin is the most recognized digital currency in Latin America, according to 92% of respondents. Ether is far behind but still the second most popular cryptocurrency, with only 29% recognition.
Besides Latin America being the perfect region for cryptocurrencies due to its economic situation, it is also a great soil for the rising of decentralized applications (dAAPs). Brazil, Chile, Colombia, and Perú now are experimenting with the use of Blockchain-based solutions to make their administrative system resistant to corruption. Moreover, Colombia and Venezuela, alongside Russia are the world`s leaders in P2P trading and adoption.
It does not matter for Bitcoin and other cryptocurrencies what people from different countries think about it today. Bitcoin continues growing, evolving, and being adopted all over the world, attracting more and interested individuals and enterprises.
