According to the study revealed by Sherlock Communications, Brazil and Colombia are where there is more interest among citizens in purchasing digital assets. The research also shows that there is still a lot of ignorance regarding Blockchain and cryptocurrencies.
Sherlock Communications, the communications agency, recently led research that confirmed the crypto adoption rate in many Latin American countries. It found that Brazil and Colombia appear at the top of the ranking, where residents expressed a more enthusiastic intention from users to convert said assets.
The research consulted the opinion of at least 1,200 participants distributed between Brazil, Colombia, Mexico, Peru, Argentina, and Chile. It determined that the Latin American environment presents good signs for improving the adoption of digital assets.
The Countries with the Highest Adoption in Latin America
Specifically, regarding Brazil and Colombia, the indicators of good adoption are directly related to what would be the proportion of respondents interested in purchasing digital assets in the next year.
In this sense, of those citizens surveyed in Brazil, at least 25% highlighted their intentions to invest in digital assets, representing 91% compared to last year’s results. Only 13% of the surveyed expressed an interest in obtaining cryptocurrencies.
Estimates highlighted by Sherlock Communications show that of the total number of residents living in the South American nation, 36 million could potentially become crypto users by 2023.
The agency found that 22.3% of those surveyed would be interested in investing in digital currencies on the Colombian side. However, compared to last year, its growth surpasses 208% since, for the previous study, only 5.2% agreed to become crypto investors.
The following places in the ranking are Argentina (18.4%), Mexico (16.9%), Chile (16%), and Peru (12%). Still, the latter was the country where the growth compared to last year was much more prominent since the number of interested parties peaked at more than 1,100% compared to the previous study.
When comparing these results with those reflected in the report revealed in August by Chainalysis, crucial changes are evident. Venezuela got spotted as the Latin American country with the most prominent crypto adoption in that research, followed by Argentina, Colombia, and Brazil. Still, other rankings mainly linked to data brought by exchanges and P2P platforms got considered here.
Other Curious Factors
Among other exciting factors revealed by the Sherlock, Communications team is that Latin America, in general, got listed as a region that could go through an extensive crypto adoption between 2022 and 2023.
However, the research also highlights that many aspects play against this prediction. Among them is that there is still a significant lack of knowledge and understanding about how cryptocurrencies work.
There is also a lack of knowledge regarding the most recommended procedures for the acquisition of these currencies, reasons highlighted by the respondents as reasons that stop the interested parties from acquiring digital assets.
By: Jenson Nuñez
