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Around 40% of Spaniard’s Young Population Consider Investing in Crypto

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Investing in cryptocurrencies has become one of the most popular strategies used by young investors. Various statistics have revealed that in Spain, around 38% of young people have stated that they will venture into the crypto investment space in the coming months.

The survey was conducted between the young population aged between 25 years and 40 years. 21% of the respondents stated that they had already invested in Bitcoin and other cryptocurrencies.

Crypto Adoption in Spain

The survey in question was conducted by Rebellion, a neobank situated in Spain. The results revealed that over one-third of the respondents stated that they would enter this space soon. A fifth of the respondents admitted to having already invested in cryptocurrencies.

The survey also captured the reasons why youngsters were attracted to the crypto space. The responses showed that 27% of people believed that cryptocurrencies were a “good investment”, while another 27% stated they were optimistic about the future of cryptocurrencies in being used for payments. However, 17% stated that they did not know about cryptocurrencies.

Commenting on the survey results, the CEO of Rebellion, Sergio Cerro, stated that, “The world of payments is experiencing a change and now is the time to decide if we want to participate in this change or not. It is a matter of time before large institutions and organizations begin to accept them as a form of payment.”

Blockchain Technology in Spain

Another report also conducted recently stated that 25% of the companies based in Spain had exposure to blockchain technology. Moreover, 11% of companies were actively using blockchain technology, which shows growing adoption, as the figure stood at 1% at the end of 2019.

Moreover, 46% of the leading companies in Spain have shown optimism towards using distributed ledger technology (DLT) to improve the security of their systems. However, in an interview, the CEO of REALSEC, a technology company based in the country, stated that despite the growing optimism regarding blockchain technology, much needed to be done to boost efficiency.

The CEO further stated that 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.”

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