The world's largest crypto exchange, Binance, conducted a survey among Latin Americans, finding out how to use cryptocurrencies and the share of investors willing to store digital assets for a long time.
The study involved 10,000 users from Argentina, Brazil, Colombia and Mexico. 50.3% of respondents prefer to use cryptocurrencies as a tool for long-term savings, and 18.8% of respondents said they trade crypto assets daily.
P2P transactions are carried out by 8.4% of users, and decentralized financial applications are used by 8.2% of cryptocurrency owners. 4.9% of respondents pay with cryptocurrencies for goods and services. Typically, cryptocurrencies in Latin America are used to make money transfers, but only 3.4% of people surveyed admitted this, Binance researchers noted. Non-fungible tokens (NFTs) are purchased by 4.8% of Latinos.
Latin America is a very important region for Binance. We expect the number of cryptocurrency users to grow significantly here, taking into account the specific needs of users in each country,â said Binance Regional Vice President for Latin America Guilherme Nazar.
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