Despite being an underdeveloped region, Latin America is an example to the world in terms of adoption, commercialization and interest in cryptocurrencies. A recent survey revealed that more than 31% of Latinos are interested in investing in Bitcoin and cryptocurrencies. In total, 2,200 people were interviewed in Argentina, Brazil, Colombia and Mexico.
The survey led by Sherlock Communication showed that respondents want cryptocurrencies to increase their wealth or to at least maintain their purchasing power in times of economic instability.
According to the shared data, between 31% and 39% of respondents in the four countries said they were “much more interested” in investing in Bitcoin after experiencing the consequences of the covid-19 crisis. In comparison, another 35% said they were “little interested” now.
However, most people do not invest in Bitcoin because they say they have no knowledge about digital assets.
Respondents showed a significant gap in the region in terms of adopting cryptocurrencies and favorable legal conditions. Argentina leads in this pessimistic view, with more than half of the population realizing that the country is lagging behind other nations. Other countries – like Brazil and Colombia – feel that they are "making progress" in this area.
Another interesting fact is that the majority of respondents (43% – 51%) agree that cryptocurrencies will facilitate the exchange of money internationally, and a slightly smaller segment (32% – 46%) believes that these technologies will eventually replace currencies trustees.
On the other hand, Bitcoin stood out as the most well-known cryptocurrency in the region, with a recognition of 86% to 92% of respondents.
Is America the future?
For Luiz Hadad, a popular blockchain consultant in Latin America, the continent is a great case study for those interested in developing decentralized solutions for a series of macroproblems and the study is a reflection of this reality:
“These results are encouraging for cryptocurrencies and blockchain-based applications looking to launch in Latin America, and for Latin Americans who are feeling the effects of the current economic crisis. Lack of confidence in governments, economic instability, inflation, desire for transparency, millions of people without a bank or economically neglected. Cite the problem that the 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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