Friday, July 1

These are the 6 facts about bitcoin in Argentina that Visa study revealed

Visa has released the results of a study it conducted in eight countries on the adoption of cryptocurrencies and consumer attitudes. The only Spanish-speaking market it selected was Argentina. The others are Brazil, the United States, the United Kingdom, Germany, Australia, South Africa, and Hong Kong.

Before this study, which consisted of an online survey of 6,000 residents of the aforementioned countries, Visa stated that there is significant global awareness and adoption of cryptocurrencies.

As consumers change their approach to investing, where they bank, and their views on the future of money, all financial institutions will need a crypto strategy.

Terry Angelos, Visa’s senior vice president and global director of financial technology.

Visa, being the largest payment network in the world, considers that cryptocurrencies represent a technological change for the movement of money that institutions will have to adopt given the growth it is having. This is argued under 6 data collected after the investigation.

1. 94% of people know about cryptocurrencies

Visa determined that “knowledge of cryptocurrencies is almost universal”, considering that 94% of those surveyed know what they are. Furthermore, it revealed that 1 in 3 of them already have cryptocurrencies, such as bitcoin. He noted that 21% of those surveyed are active owners, while 11% are passive. In turn, he highlights that there is 21% that he does not own, but is interested in acquiring.

Visa explained that skeptics of the use of cryptocurrencies like bitcoin need more proof that it will be a financial avenue of the future. Source:

2. Inflation and devaluation motivate the purchase of cryptocurrencies to save

The company noted that in places where the economy is unstable and weak, the purchase of cryptocurrencies is 21% higher than in developed countries. Explain that this is because inflation and devaluation drive investment to preserve the value of money. This occurs in Argentina and even in the United States, where concern about the price increase is growing, as reported by CriptoNoticias.

3. 6 out of 10 people increased use in 2021

62% of the surveyed people who own cryptocurrencies stated that they increased their use in the last year. The company realized that curious consumers are ready for adoption and could increase their engagement further by increasing the number of reliable financial services that offer them.

4. Cryptocurrencies are seen as investment and the financial future

More than 40% of those surveyed see cryptocurrencies as a way to generate wealth and a financial asset of the future. They believe that within five years they will work for daily transactions such as purchases of goods or services and national and international money transfers. Too They estimate that in less than ten years they will be used by the majority of consumers.

Visa warns that it has seen a change in mindset in consumers about bitcoin and other cryptocurrencies. Source: pexels.

5. 81% of cryptocurrency owners want cards to use them

The study revealed that 81% of respondents who have cryptocurrencies expressed that they have an interest in using credit and debit cards enabled to use them. This would explain why Mastercard, the second largest payment network on the market, will allow direct payments with these assets.

6. Banks will stop being used if they don’t adopt cryptocurrencies

Visa stated that almost 40% of the people surveyed who already have cryptocurrencies said that they will leave their bank next year if it does not allow payments with them. This is because they can use other financial platforms that integrate cryptocurrencies and also fiat money, such as pesos or dollars.

Likewise, the company maintains that these institutions have an opportunity to retain first-time consumers of these digital assets.

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