Main topics of the post:

  • Binance’s Latin America survey was designed to understand Latin Americans’ perceptions of cryptocurrencies and the Web3 ecosystem, and to delve deeper into usage habits. This is the second part of the survey and you can read the first part here and the third and final part here.

  • 95% of cryptocurrency users in Latin America plan to increase their investments in the next 12 months, according to a survey.

  • 42.2% of respondents plan to acquire crypto in the next 3 months; 17% in the next 6 months; and 35.7% in 12 months. Only 5.1% of the sample indicated that they do not plan to increase their digital assets.

95% of cryptocurrency users in Latin America plan to increase their investments in the next 12 months, according to a survey conducted by Binance, the world’s largest cryptocurrency exchange by trading volume. 42.2% of respondents plan to acquire crypto in the next 3 months; 17% in the next 6 months; and 35.7% in 12 months. Only 5.1% of the sample indicated that they do not plan to increase their digital assets.

Research aims to understand Latin Americans’ perceptions of cryptocurrencies

Binance’s Latin America survey was designed to understand Latin Americans’ perceptions of cryptocurrencies and the Web3 ecosystem, and to delve deeper into usage habits. It also aimed to show users’ expectations for the market in the coming years.

Latin America is currently home to 55 million cryptocurrency users, nearly 10% of adopters worldwide, according to crypto payments firm Tripple-A.

The survey also showed that over 54% of respondents purchase cryptocurrencies at least once a month, indicating a recurrence that is in line with adoption indicators in the region. 6.6% of users purchase more than once a day; 4.6% daily; 15.4% weekly; and 27.8% once a month. Furthermore, a third of respondents indicated that they decide whether to purchase cryptocurrencies based on market conditions.

More than half of respondents adopted crypto more than a year ago

According to the survey, more than half of users adopted cryptocurrencies over a year ago, with the top reasons for entering the crypto market being the prospects of high returns and financial freedom, cited by 20.3% and 15.2% of respondents in the region, respectively. Money protection (13.3%), innovation (12.5%), portfolio diversification (10.9%), and security and privacy (10.3%) are also reasons that justify the choice of existing and new users, according to the survey.

"Cryptocurrencies and blockchain technology offer an attractive proposition to meet concrete needs in the daily lives of individuals and companies in Latin America. With a smartphone and minimum requirements, anyone can start exploring this world that offers access, costs and lower transaction times. This research not only helps us expose the current state of crypto adoption in the region, but also allows us to provide insights into user behavior and expectations," says Guilherme Nazar, Binance's regional VP for Latin America.

In this first edition of the survey, Binance combined responses from 10,000 users, with various investment levels, from Argentina, Brazil, Colombia and Mexico on questions ranging from investment behavior and the market to price expectations and adoption.

Read also:

  • Part 1 of the survey: One in two investors buy cryptocurrencies with a long-term focus, Binance survey shows

  • Part 3: For 95% of Latin America, cryptocurrency adoption will continue to increase, Binance survey shows

  • 7 Facts About Binance You'd Be Surprised to Know