Colombians Are Overwhelmingly in Favor of Cryptocurrency, Study Shows

  • New survey finds 80 percent of Colombian respondents willing to invest in cryptocurrency
  • 91 percent believe cryptocurrency to be the future of global trade. 

A new report by peer-to-peer bitcoin marketplace Paxful shows that the majority of Colombians are not only familiar with cryptocurrency, but imagine it having a strong impact on the future of finance and technology. 

Colombian Crypto Usage

According to the survey results shared with CryptoGlobe, 86.5% of Colombian respondents said that they were familiar with cryptocurrency, with 80% claiming to be willing to invest in the digital asset class. Only 20% of respondents said that they were reluctant to use digital currencies as an alternative to fiat or traditional investment assets. 

In addition, 50% of those polled between the ages of 25 and 40 report already having invested or expressed an interest in purchasing cryptocurrency, with bitcoin being the most popularly owned asset at 79% . Ethereum was also listed at just under 3%. 

Colombian respondents also appear intent on using cryptocurrency with the vast majority expecting it to continue growing. Of those polled, 32% had already conducted a crypto-based transaction, with 59% saying that crypto adoption would continue to grow. 

Paxful speculated newer generations of investors and technology users are looking for the convenience afforded through crypto-assets. 

According to the report, 

“The increased use of digital currencies is likely linked to a hyperconnected generation constantly on the lookout for options that not only allow them to have 24/7 access to their financial assets but also give them the freedom to make online global transactions in a simple way.”

Despite embracing the technology, 86% said that crypto-specific regulation would be a necessity in Colombia, giving evidence that the population would still like some bondaries placed on the decentralized assets.