51% of Latin Americans Use Bitcoin and Cryptocurrency


Key facts:
  • Mastercard has consulted more than 6000 consumers in 10 Latin American countries.

  • Latinos prefer central, according to a MasterCard study.

MasterCard, one of the largest banking and financial services companies in the market, noted that over the past year, more than half of Latin Americans have used Bitcoin (BTC) and other cryptocurrencies to make payments, as part of a boom in digital finance in this side of the world.

in your report New Payments Index 2022, Provided for writing CriptoNoticias, MasterCard indicates that 51% of 6,004 users and consumers consulted in 10 Latin American markets are cryptocurrency In 2021 Although it does not state which one or any of them.

In any case, they suggest that Latinos are “optimistic about the value” of these assets, although they are “looking for more information and institutional support.” In fact, 77% of survey respondents said they would use encryption more if they only understood how to use it.

51% of Latinos consulted by MasterCard said they have used cryptocurrency in the past year. Source: MasterCard.

Something that MasterCard highlights is Latin America’s desire for centralization. 67% of adults surveyed in 10 Latin American markets said they They will feel “more confident”, to pay in cryptocurrency, if it is backed by a “trusted financial institution”.

According to MasterCard, Latin Americans want more flexibility to switch traditional payment methods with emerging technologies. For example: 68% of them want to make their payments in crypto 365 days a yearAccording to this company.

And 82% of these would like to be able to get the jobs associated with cryptocurrency in the financial institutions they deal with.

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future interest

The thing MasterCard highlights is that in Latin America there is an interest in using new technologies to pay for its products and services. In this sense, they state that 86% of those consulted have used at least one digital payment method in the past year. 95% also said they would be willing to use other methods in the next 12 months.

In Paraguay alone, MasterCard found that 79% of adults surveyed expect to buy and pay for their goods and services using cryptocurrencies such as bitcoin. It is no coincidence, because in this country there is a growing adoption, which is also related to Bitcoin mining, An activity that is being manufactured little by little in that nation.

68% of Latinos who were consulted want to be able to pay for their things every day with cryptocurrency. Source: MasterCard.

MasterCard also explains that Latinos are turning to open banking and financial technology “more than they know themselves.” They assert that those born in Latin America “They are more open to adopting digital tools than Americans or Europeans.” This is because 62% believe that digital tools, such as cryptocurrencies, allow for better control of funds.

MasterCard is taking concrete steps in the new economy

The MasterCard report, which confirms the high adoption of cryptocurrencies in Latin America, indicates the clear interest that this company has shown in the new ecosystem, which it has already been a part of through projects implemented in this side of the world.

As mentioned on CriptoNoticias, MasterCard has allowed Argentina-based Bitcoin-linked companies to offer prepaid cards in cryptocurrency, that can be used for virtual and physical purchases, as applicable.

With MasterCard recognizing the use of cryptocurrencies in Latin America, there is nothing left but to wait for what this company can offer to Latino users, who are committed to the new economy every day.

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