According to recent research, 38% of Spaniards between the ages of 25 and 40 plan to enter the cryptocurrency market in the coming months. Furthermore, 21% of participants have already invested in bitcoin or some altcoins. Do you want to start doing it too? Log in to Bitcoin Revolution and join the decentralized finance revolution
Are the Spaniards flocking to cryptocurrencies?
Spanish neo-bank Rebellion conducted a survey to determine if young Spaniards were considering jumping on the cryptocurrency bandwagon in the near future. According to the results, more than a third of the participants answered "yes".
Investing in digital assets is the most negotiated investment product among locals between the ages of 25 and 40 as about one fifth admitted to having already allocated funds within them. In second place are pension and deposit funds (19%).
The survey also revealed the main reasons why young people are catching the tide of cryptocurrencies. 27% of respondents believe this is a "good investment", while 27% praised bitcoin and altcoin as "the future of payments". However, knowledge on the subject needs improvement as 17% replied that they know nothing about crypto.
Sergio Cerro, CEO of Rebellion, said that digital assets would be a "significant factor to be considered in the future". He stressed that now is the time for companies like yours to embrace the asset class:
“The world of payments is undergoing a change and now is the time to decide whether or not we want to participate in this change. It is a matter of time before large institutions and organizations start accepting them as a form of payment ”.
Blockchain technology invades Spain
Young Spaniards aren't the only piece of local society supporting the cryptocurrency industry. According to another report, 25% of Spanish companies have had exposure to blockchain technology at some point. While active users stood at 11%, it still represents significant growth compared to 1% at the end of 2019.
Furthermore, 46% of large companies in Spain are in favor of incorporating technologically distributed accounting to increase their security in the future.
Jesús Rodríguez, CEO of the technology company REALSEC - pointed out that although the use of blockchain solutions has a growing acceptance in the Spanish industry, it is still necessary to work on its efficiency:
“The new economy requires adopting new business models based on digital innovation. In this context, in 2020, blockchain has begun to be perceived as an efficient technology that contributes to reducing costs and risks and as one of the main technological strategies that want to incorporate a large number of companies ".
