New data from a survey that was released earlier in the week has provided insight about how Argentinians perceive cryptocurrencies and their potential use. Nearly three quarters of respondents to the survey said that they would eventually purchase cryptocurrency as an investment or for their purchasing power.
Argentinians are familiar with Crypto
Results of a May 4th survey provide a detailed picture of Argentina’s crypto-friendly culture and the potential for Argentinians to use crypto for various purposes. Opinaia y Muchnik (two consulting offices) conducted the survey and asked a number of questions about crypto to nearly 2,400 Argentinian residents living at various economic levels.
The survey revealed that 91% of respondents had heard of cryptocurrency before they were surveyed. This popularity doesn’t necessarily mean that people can use crypto to make money. According to the survey, only 38% are familiar with the operation of and internal workings cryptocurrency assets.
However, Argentinians would be willing to use crypto in other ways if needed. 74% stated that they would use cryptocurrency to either invest or save some money.
State of Crypto in Argentina
Study examined the trust citizens place in cryptocurrencies as compared to stocks and bonds. In this respect, cryptocurrency performed in the middle. They were not as trusted as traditional instruments, such the dollar, but more than any other instrument. Guido Moscoso is the public opinion manager for Opinaia.
The trust level in cryptocurrencies is average. It’s similar to shares or investment funds, but lower than more traditional or established forms like the dollar or Mercado Pago. They are far more confident than bonds.
Moscoco said that the survey was a reflection of times when Argentinians are concerned about the economy and trying to find ways to protect their savings in an inflationary environment. However, he explained that most people don’t have the necessary knowledge to get into the crypto world. Of the 74% of Argentinians that would be willing to purchase crypto assets, 49% stated that they would purchase them, but they don’t know how to do it.
Let us know your thoughts on the most recent survey regarding cryptocurrency usage and popularity in Argentina. Comment below.
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