Argentines are willing to venture into new forms of investment given the need to protect the value of savings and the economic crisis.
This was revealed by a survey, where 73.4% of the participants considered that in the current economic scenario, cryptocurrencies are the most effective way to save. The study was commissioned by Paxful – the global peer-to-peer Bitcoin market – and executed by the specialized site Crypto 247.
The survey that allows us to understand the current situation and prospects for the use of cryptocurrencies in the country measured the consideration of Argentines about the most effective currencies to save, their investment habits, and their perception of crypto, with a focus on Bitcoin.
Out of a total of 1,113 responses, 69.5% of those surveyed said they had invested at least once in cryptocurrencies, stating as the main reason their ability to shelter value from the depreciation of the local currency due to inflation (42, 7%).
However, 30.5% of those surveyed stated that they had not yet invested in digital currency, to a greater extent as a consequence of ignorance about its operation and applicability (24.2%), followed by the lack of funds to invest (12, 8%), and fear in this type of currencies (7.7%). Undoubtedly, cryptocurrencies allowed citizens to regain control of their finances and guarantee security in their operations so that more than half of those surveyed (67.8%) consider that this type of investment is widely safe.
When asked about Bitcoin, those who have chosen to make investments in this digital currency said they had done so by assessing its global dimension (53.9%), decentralization (50.6%), and, finally, its security (49, 1%).
“At Paxful we consider that cryptocurrencies are a great investment opportunity that is becoming more and more consolidated among Argentines. We are proud to be part of this peer-to-peer financial revolution that creates a more collaborative economy and offers a profitable option to maintain the value of local currencies, ”claims Magdiela Rivas, the management consultant at Paxful.
The research was carried out by Cripto 247 on behalf of Paxful in July 2020. The data obtained through an online survey, and the sample consisted of 1113 respondents; they were between 18 to over 55 years old with a predominance of the male gender.
Paxful is a people-driven marketplace that enables peer-to-peer money transfers, anywhere, anytime. Its mission is to empower the 4 billion unbanked and underbanked people around the world to take control of their money through peer-to-peer transactions. The company, founded in 2015, has more than 3 million customers around the world who can instantly buy and sell bitcoins, using more than 300 different payment methods.
As part of its mission, Paxful also launched #BuiltWithBitcoin, a social responsibility initiative that aims to build 100 schools funded entirely by Bitcoin in all emerging markets. Paxful was co-founded in 2015 by Ray Youssef, CEO of Paxful, and Artur Schaback, COO of Paxful.
By: Jenson Nuñez.