We recently conducted a survey of over 750 Brazilians to gain insights into how they view cryptocurrencies and crypto's potential to transform finance and other industries. The survey included both crypto users and non-users, and the results were eye-opening.
An overwhelming 91% of crypto users surveyed either "agree" or "strongly agree" that crypto is revolutionary technology that can transform finance and other industries. Even among non-crypto users, 78% share this belief. From what we've seen from our own Brazilian users - we wholeheartedly agree that crypto is the future of finance.
For those of already using crypto, a standout finding was that 85% of crypto users believe investing in crypto offers greater financial freedom and independence from traditional banking. We can relate to this sentiment, as crypto gives more control over our own financial destiny in ways that banks never could. No longer do we need permission to access or move our money; crypto lets us be our own bank.
The survey also highlighted the importance of transparency and security to boosting confidence in crypto investing. A resounding 93% of crypto users agreed they would feel more confident choosing crypto investments if exchanges clearly communicated security safeguards. Additionally, 86% said that transparency initiatives like proof-of-reserves could improve legitimacy in the crypto space.
We share these convictions - trust is still an obstacle for many looking to get involved with crypto, so security and transparency building measures are hugely impactful. As adoption continues accelerating in Brazil, more education around self-custody, exchange protections, and concepts like proof-of-reserves will go a long way toward getting more Brazilians onboard.
By taking steps to empower greater participation, foster trust, and smooth the onboarding process, we believe the crypto industry can unlock tremendous potential in Brazil.
© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.
