A new survey, whose results were released earlier this week, has given more insight into how Argentinians view cryptocurrencies and how they might put them to use. The survey found out that eventually, almost three out of four citizens would purchase cryptocurrency to invest, or as a way of preserving buying power.
Argentinians Familiar With Crypto
A survey whose results were released on May 4, offers a clear panorama of the popularity of crypto in Argentina, and how Argentinians might be capable of using crypto for different purposes. The survey, which was carried out by Opinaia y Muchnik, two consulting offices, asked several crypto-related questions to a sample of 2,400 Argentinian citizens from all around the country, living at different economic levels.
On the issue of crypto popularity, the survey found that 90% of the citizens consulted had heard about cryptocurrencies before the survey. However, this popularity does not lead to operating with crypto directly. The survey also reported that only 38% have knowledge about the operation and the inner workings of crypto assets.
However, Argentinians are willing to use crypto in different ways if they have to. 74% of the surveyed stated they would buy and use cryptocurrencies either as investment assets or just to save part of their purchasing power.
State of Crypto in Argentina
The study dwelled on how citizens trusted cryptocurrencies when compared to other investment assets, such as stocks and bonds. In this sense, cryptocurrencies fared in the middle, below classic instruments such as the dollar, but over other instruments. Guido Moscoso, public opinion manager at Opinaia, summarized:
“Cryptocurrencies have an average level of trust, similar to that of an investment fund or shares, but below more classic or entrenched forms such as the dollar, the fixed term, or Mercado Pago. But yes, they are well above the confidence put on bonds.”
The survey, according to Moscoco, is a sign of the times, when Argentinians are very worried about the economic climate in the country and are studying different ways of saving their money in a highly inflationary environment. But he also explained that this interest is blocked by the high knowledge barrier that the average citizen faces when trying to enter the cryptocurrency 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.