Visa announced new Global Crypto Advisory Practice service.
The portion of the Brazilian population that knows that cryptocurrencies exist seems considerable. And even for such a new subject, 34% have already purchased cryptos. But the other 66% are out of this segment even though they find it interesting after getting informed about the subject (29%), because they are not interested (29%) or because they sought information and have a negative view of the topic (8%) .
The conclusions are in the Visa study “The Crypto Phenomenon: Consumer Attitudes & Usage” (The crypto phenomenon: consumer attitudes and uses, in free translation). The survey was carried out in partnership with LRW.
According to the study, 97% of Brazilians interviewed know about the existence of cryptos. The interviews were with people at least 18 years old. In the case of people aged 25 and over, they needed to have a household income of at least $35,000 (or the equivalent of that). Therefore, something like R$ 192,500, or R$ 16 thousand, which in Brazil is considered high income. And the third factor was the person sharing responsibility or jointly making the household’s financial decisions.
The study is part of Visa’s Crypto Advisory Services launch strategy. The service is an advisory service for customers using cryptocurrencies. Visa has different branches of activity in cryptocurrencies, making it clear that it is inserting these digital currencies in its business, including in Brazil.
Most Brazilians who have cryptos have already had operations
By the numbers in the study, Brazilians reach practically the same percentage of people using cryptos as Argentina (33%). The neighboring country is famous in the region for being a big user of digital coins. In both economies, the majority of those with cryptos are active users (22% of Brazilians and 20% of Argentines. The percentages are in line with global numbers.
The same goes for passive users, who compare crypto as an investment and have not yet transacted. Worldwide, there are 11%. In Brazil, 12%, and in Argentina, 13%.
About half of the people in the emerging countries in the survey – Brazil, Argentina and South Africa – that have cryptos made their purchases on exchanges (51%). Worldwide, the share is 49%. Already 47% gain crypto through mining or staking in the research’s emerging countries. Worldwide it is 39%.
Most of those who already have cryptocurrencies buy these assets because they believe they are the future of finance. Another point is not to miss something that seems to be or will be important. Especially in emerging countries, generating wealth in the long term is a motivation for those betting on cryptoactives. If the economy is in trouble, this also motivates the purchase of cryptocurrencies. And finally there are the low fares and freedom of movement with cryptos as factors that excite users.