Coincaex has launched a study on the use of cryptocurrencies in Central America, analyzing motivations, uses and most common payment methods among its users. The report reveals that 80.6% of users buy cryptocurrencies with a focus on investing for the future.
Likewise, with 64.5% of users preferring them for savings, a trend is observed towards their use as a reserve of value. Only 12.9% use cryptocurrencies as a regular payment method, although the region shows potential for greater adoption.
The study seeks to offer a detailed perspective on the growth and adoption of digital currencies in Central American countries, where high transaction costs and limited financial inclusion have opened the doors to new alternatives such as cryptocurrencies.
The study results reflect significant interest in using cryptocurrencies as long-term investment and savings, two key factors indicating growing confidence in digital currencies.
When asked what motivates you to buy cryptocurrencies?, 80.6% of those surveyed responded that their main interest is long-term investing, while 12.9% admitted to using cryptocurrencies mainly for speculation or trading activities.
This data suggests that, instead of looking for quick profits, the majority of Central American users prefer to accumulate cryptocurrencies with a vision of future growth and protection of value.
Likewise, the study investigates the specific purpose of use of these coins. 64.5% of those surveyed highlighted savings as the main utility of cryptocurrencies, while 32.3% indicated that they use them in investments or trading.
This penchant for savings reflects a trend in which Central American users choose to use cryptocurrencies as an alternative store of value, especially in countries with unstable economies or high inflation.
The use of cryptocurrencies as savings could indicate that they are being seen as a safe asset, even more reliable than local currencies in some cases.
The report also reveals how cryptocurrencies are being integrated into payment methods in the region. Although banking transactions continue to be the most used option, with 77.4% of respondents indicating their preference for this means, cash also plays a prominent role with 41.9%.
However, only 12.9% mentioned cryptocurrencies as a common payment method, which shows that, although growing, the use of cryptocurrencies still has a way to go before becoming a more everyday payment method in Central America. .
In conclusion, the Coincaex study reveals a growing acceptance of cryptocurrencies in Central America, especially as a long-term savings and investment tool.
Although their use as a means of payment is still limited, the inclination towards savings and investment shows that the potential of cryptocurrencies in the region is significant. Coincaex is confident that, with greater financial education and accessibility, cryptocurrencies could establish themselves as a viable solution to the economic challenges faced by many Central Americans.
Source: Ambito
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