CRYPTONAIRE
WEEKLY CRYPTO investment journal
Argentines Turn to Bitcoin to Protect Funds During Crisis: Survey
After recently suffering one of the worst financial crises in their history, some Argentineans have managed to preserve their purchasing power by exchanging cash for Bitcoin and other cryptocurrencies. A newly published online survey revealed that 74% of Argentina’s population believes that, under the current political and economic conditions, cryptocurrencies are the best possible way to protect their funds. Likewise, 68% of those surveyed consider crypto investments to be “extremely safe.” The online survey, commissioned by Bitcoin marketplace Paxful and conducted by Cripto 247, featured 1,113 respondents throughout Argentina, aged between 18 and 55. The full methodology was not published, but given that Cripto 247 is a popular cryptocurrency media outlet in Argentina, the results aren’t altogether unsurprising. That, however, makes some of the other results intriguing. While most of the survey respondents see digital assets as a solution during a financial crisis, a significant percentage don’t feel they understand how cryptocurrencies work, limiting further growth of cryptocurrency use in the country. Twenty-four percent of respondents did not want to invest in crypto due to a lack of familiarity with the technology; nearly eight percent professed fear of using an unknown currency. Argentineans’ crypto usage has received a healthy bump from the onset of the COVID-19 pandemic. Read more...
Cryptonaire Weekly | September 1st 2020
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