Second global survey by Consensys, behind Metamask, shows Brazil among the biggest highlights in the crypto industry.
The platform, in partnership with YouGov, interviewed more than 18,000 people between the ages of 18 and 65 in 18 countries in Africa, the Americas, Asia and Europe. In Brazil, 80% of Brazilians said they distrust big tech. Meanwhile, in the Northeast of the country, more than 45% have already invested in crypto assets.
Northeast leads the adoption of cryptocurrencies in Brazil
In Brazil, the Northeast region stands out as the most enthusiastic in the adoption of cryptocurrencies, with 45.3% of the local population already investing in or owning crypto assets. This puts the region ahead of the South (43.4%), Southeast (40.7%), North (40.2%) and Central-West (38%).
Globally, Brazil closely follows the world average of 42%, with 43% of Brazilians saying they have already invested in or own cryptocurrencies, an increase of two percentage points compared to the previous year.
The study also reveals that the northeast has the highest concentration of active investors, those who continue to hold crypto assets, with 17.3% of the local population in this group, a considerable number when compared to the national average of 16%.
Cryptocurrencies as an instrument of financial inclusion
The research also points out that cryptocurrencies are increasingly being adopted in economically deprived regions. In Brazil, this is evident, as cryptocurrencies present themselves as a viable alternative for those without access to the traditional banking system. A revealing fact is that 28% of Brazilians who invested in cryptocurrencies did so in response to financial exclusion, seeking alternatives in a system that often does not serve them.
This trend is also seen globally, with countries such as Nigeria leading the way in cryptocurrency adoption, where 73% of the population claims to have already acquired crypto assets. The global scenario reflects the growing relevance of crypto as a means of financial inclusion, especially in developing economies, where the lack of access to traditional banking services is a constant challenge.
In the United States, for example, concerns about scams have increased slightly, while concerns about volatility and regulatory issues have decreased significantly by 2024. 48% believe that cryptocurrency is an environmentally friendly technology. Also in the US, there has been a growth in people associating cryptocurrency with the future of digital property.
Distrust towards big tech grows in Brazil
In addition to the adoption of cryptocurrencies, Consensys reveals a growing distrust among Brazilians regarding the concentrated power of large technology companies.
According to the data, 84% of respondents believe that big tech companies have too much power. This sentiment reflects a distrust of these corporations’ control over personal data and their business practices.
These figures highlight a trend towards more decentralized alternatives. Cryptocurrencies offer greater control over one’s assets and privacy. Blockchain-based solutions and crypto assets are increasingly positioning themselves as alternatives to the centralized services offered by large technology platforms.
Brazil shows maturity
The scenario presented by the research reflects a significant transition in Brazil, especially in the Northeast, where cryptocurrencies are gaining strength not only as an investment, but also as a tool for financial inclusion.
At a time of growing distrust towards large technology corporations, cryptocurrencies are emerging as an option that is more aligned with Brazilians’ needs for autonomy and privacy. This movement has the potential to transform the country’s financial and digital landscape, especially in poorer regions, which see cryptocurrencies as a chance for access and financial freedom.
The critical role of blockchain and decentralization in enhancing privacy, trust, and transparency in how our data is managed cannot be overstated. Our latest survey not only highlights the growing importance of data privacy, with 83% of respondents emphasizing its importance, but also sheds light on widespread concerns about exploitation and misinformation, a pressing issue amid global elections and the widespread adoption of AI, explains Joseph Lubin, co-founder of Ethereum and founder and CEO of Consensys.
The world’s largest economy could boost the crypto industry
The recent US presidential election could lead to significant regulatory clarity, for example. As the world embraces the potential of decentralization and cryptocurrencies, the industry is ready to support.
And it’s about empowering the next wave of users through education and innovation, while also solving some of the world’s most complex challenges, Lubin adds.
The article Almost half of Northeasterners have already invested in crypto, according to a survey by Consensys was first seen on BeInCrypto Brasil.