Even though Latin America is not the most developed region, it serves as an exemplar in terms of cryptocurrency adoption, trade, and interest in them.
A recent poll showed that over З0% of Latinos are interested in investing in cryptocurrency to capitalize on its growth or save their money during times of economic instability.
The study, assigned by Sherlock Communications, encompassed more than 2,200 people in Argentina, Brazil, Colombia, and Mexico and intended to reveal the attitude of people in the countries towards cryptocurrencies and digital assets.
As a result, it turned out that from З1% to З9% of respondents in the four partaking countries said they were interested in investing in Bitcoin due to the consequences of the COVID-19 pandemic.
Another З5% to 51% of respondents said that they are “interested in investments to a greater extent now.” The vast majority of those surveyed do not invest in Bitcoin or any other cryptocurrency because they lack knowledge about digital assets.
In addition, people noted the lack of a favorable legal environment, and half of Argentina’s population believes that the country lags far behind other countries in terms of adoption. In contrast, Brazil, and Colombia report progress in this area, as evidenced by the second most popular response with 28%.
Another interesting fact is that most respondents (4З% – 51%) agree that ultimately cryptocurrencies will facilitate the exchange of money internationally, and З2% – 46% are confident that these technologies will replace fiat currencies.
In addition, Bitcoin is ranked as the most famous cryptocurrency in the region with 86-92% recognition. Ethereum awareness ranged from 26% to 29% depending on the country, giving the main altcoin a consistent second place.
The political and financial situation in Latin America is also propelling the growth of decentralized applications. Colombia, Peru, Chile, and Brazil are already experimenting with blockchain-based solutions to optimize their administrative system.
