51% Of Consumers in Latin America Have Transacted in Crypto- Mastercard Report


51% Of Consumers in Latin America Have Transacted in Crypto- Mastercard Report

According to data from Mastercard, over 51% of customers in Latin America have engaged in bitcoin transactions. The Bitcoin craze, which began quietly expanding throughout the epidemic, has rapidly swept throughout Latin America.

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The seriousness of Latin Americans' interest in Crypto is revealed by Mastercard reports. Between March and April, the payment industry behemoth questioned more than 35,000 people worldwide. The Payments Index 2022 poll finds that 51% of customers have previously conducted a bitcoin transaction. Additionally, one-third of them claimed to have used stablecoins to pay for regular expenditures.

Mastercard’s study reveals the growing interest in crypto

The focus of the current study is on developing new payments and consumer behavior in their vicinity. The report also demonstrates customers' interest in learning more about blockchain technology, NFTs, cryptocurrencies, and DeFi.

"More and more people in Latin America are becoming interested in cryptocurrencies and seeking solutions that make it easier for them to enter the market. These solutions are being developed by Mastercard to increase digital inclusion and build partnerships that ensure functionality and support".

54% of customers in Latin America are confident in the performance of digital assets as an investment. In their everyday activities, two-thirds of Latinos also like alternating between cryptocurrencies and conventional payment methods.

The survey also demonstrates that if there is a company that can support the process, people in the area are more comfortable making investments and paying with cryptocurrency. 82% of respondents stated they would want their current financial institution to provide them with easily accessible services connected to cryptocurrencies.

"Payments have already entered the future. With a whopping 95% expecting to use a digital payment method in the upcoming year and 29% admitting to having used less cash in the previous year, Latin Americans are increasingly turning to technology to conduct their financial transactions, and this trend is anticipated to continue rising". 

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