Ripple Study Shows Latin Americans Are Most Bullish On Crypto

A new ripple study shows Latin Americans are the most bullish on crypto and the Middle East is up next while Europe is at the bottom as we are reading more in today’s Ripple news and analysis.

According to a new Ripple study, we can see that residents of Latin America are most inclined toward the digital asset industry as 50% of the surveyed think that the sector will cause a huge impact on the financial system while 74% prefer to transact with businesses that can accept cryptocurrencies. Europeans are the most interested in experiences than in digital assets.

Ripple’s study proved that there were some suggestions that the residents in the region with troubled economies are looking for crypto and blockchain as a way out than the well-developed countries. Latin America and the Middle East are the two zones where these industries are flourishing. Two-thirds of the polled Latinos said they are likely to transact with entities that accept crypto while 50% think that the sector will have a huge impact on society. The citizens of the Middle East responded in a similar manner.

67% of the respondents said they prefer to transact with businesses that embrace digital assets and those residents were among the keenest to invest in BTC or altcoins. They displayed huge trust in the local banking institutions and 65% of the respondents will buy crypto from there rather than buy from exchanges.
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Europeans on the other hand seem to be less intrigued. 35% of them think that crypto will positively affect the future monetary network and 41% will transact with enterprises that accept crypto payments:

“Generally speaking, Latin America (LATAM) is the most optimistic about the value of blockchain and its tokens, with the Middle East and Africa (MEA) and North America somewhat less so, and Europe the most conservative.”

Ripple’s survey touched upon NFT as well and despite the huge interest last year and the endorsement from celebrities and sportsmen, most consumers find the matter confusing and the majority of those that want to buy NFTs will do it for functional reasons. Another study by Mastercard shows that 51% of the Latin American consumers conducted one transaction with crypto assets and 33% employed stablecoins for daily purchases.

More than half of the polled nations said they see crypto as an investment instrument and others think that they want to possess a hybrid settlement option that will enable both crypto and traditional payment methods for day-to-day operations.