A recent survey found that 38% of Spanish citizens aged between 25-39 years plan to join the cryptocurrency market within the next few months. 21% of participants had invested in Bitcoin or other altcoins.
re Spaniards Flocking into Crypto?
Spanish Neobank Rebellion ran a survey to find out if young Spaniards are considering jumping on the cryptocurrency train in the near future. More than a third of participants responded “yes” to the survey results.
Locals between 25-39 years old are most interested in investing in digital assets. Around one-fifth of them admitted that they have already invested in these assets. Second was deposits and pension funds (19%)
It also revealed the top reasons that young people should be embracing crypto. This is a good investment for 27%, while 27% praise bitcoin and altcoins as the future of payments. However, 17% said they don’t know much about crypto.
Rebellion CEO Sergio Cerro stated that digital assets are a key “factor to consider in the future”.
“The payments industry is changing rapidly and we need to decide whether or not to be part of this transformation.” It’s only a matter time before major institutions and organizations accept them as a method of payment.
Blockchain Technology invades Spain
The crypto industry is not just for young Spaniards. Another report states that 25% of Spanish companies had been exposed to blockchain technology at one time. Even though the number of active users is only 11%, this still represents significant growth when compared to the 1% at 2019’s end.
Furthermore, 46% of large Spanish companies support the incorporation of distributed ledger technology to improve their security for the future.
Jesus Rodriguez, the CEO of technology company REALSEC, stated that while blockchain solutions are becoming more popular in Spain, it is still necessary to improve its efficiency.
The new economy requires new business models that are based on digital innovation. This is why blockchain was seen as an efficient technology in 2020 that reduces costs and risks. It also represents one of the most important technological strategies for incorporating large numbers of companies.
Marla Brooks – Financial Analysis
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