According to a recent survey, 38% of Spaniards aged 25 to 40 plan to enter the cryptocurrency market in the coming months. In addition, 21% of participants have already invested in Bitcoin or some altcoins.
According to the survey, cryptocurrencies are the most popular investment among young Spaniards
The Spanish neobank Rebellion conducted a survey to see if young Spaniards were considering boarding a cryptocurrency train in the near future. According to the results, more than a third of the participants answered “yes”.
Investing in digital assets is the most popular investment product among locals between the ages of 25 and 40, with around one-fifth admitting that they have already allocated funds to them. Pension funds and deposits came as second (19%).
The survey also revealed the main reasons why cryptocurrencies are so popular among young people. 27% of participants believe that this is a “good investment”, while 27% praised BTC and altcoins as the “future of payments”. Nevertheless, knowledge in this area needs to be improved, as 17% said they knew nothing about cryptocurrencies.
The main obstacle to investing in cryptocurrencies is reliability, on which 23% have negative opinions.
Sergio Cerro – CEO of Rebellion – believes that digital assets will be an important “factor to consider in the future”. He stressed that now is the time for companies like his to adopt this class of assets:
“The world of payments is experiencing a change and now is the time to decide whether we want to participate in this change or not. It is only a matter of time before large institutions and organizations begin to accept them as a method of payment. “
Blockchain technology in Spain
Young Spaniards are not the only faction of local society that supports this sector. According to another report, 25% of Spanish companies have already used blockchain technology at some point. Although active users reached 11%, this still represents a significant increase compared to 1% at the end of 2019.
In addition, 46% of large Spanish companies are in favor of including a distributed ledger in order to increase their security in the future.
Jesús Rodríguez, CEO of the technology company REALSEC, pointed out that although the use of blockchain in Spanish industry is gaining ground:
“The new economy is calling for the adoption of new business models based on digital innovation. In this context, in 2020, blockchain began to be seen as an effective technology that contributes to reducing costs and risks, and as one of the main technological strategies that a large number of companies want to integrate. “