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Nearly Half of This Country’s Residents Would Welcome the Adoption of Bitcoin As Official Currency: Report

A brand new research reveals that nearly 50% of one South American nation’s residents say they’d welcome the adoption of Bitcoin as their official foreign money.

A survey cited by São Paulo-based monetary training web site Valor Investe polled 2,700 respondents from Brazil, Argentina, Chile, Colombia, Costa Rica, El Salvador, Venezuela and Mexico.

The research reveals that almost half of Brazilians need their nation to affix El Salvador by recognizing Bitcoin as authorized tender.

“Brazilians have been the greatest advocates of crypto-recognition in the area, with 56% supporting El Salvador’s method and 48% saying they need Brazil to undertake it as effectively… Another 30% neither agree nor disagree and 21% are towards the concept (12% disagree and 9% strongly disagree).”

According to the ballot, there are three main elements motivating Brazilians to spend money on cryptocurrencies.

“About the foremost causes for investing in cryptocurrencies, Brazilians point out: to diversify investments (55%), defend towards inflation and monetary instability (39%) and comply with the know-how development (37%).”

The survey additionally mentions that solely 12% of the residents polled say that they aren’t trying to spend money on cryptocurrencies. Of those that don’t think about coming into the crypto markets, 42% cite safety issues, 37% carry up volatility and 33% say they lack the cash to speculate.

Lastly, the research reveals that Bitcoin is the most well-known crypto asset in the nation (92%), adopted by Ethereum (31%) and Litecoin (30%).

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Featured Image: Shutterstock/Skorzewiak

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