September 19, 2021

Brazilians support Bitcoin adoption and legalization

Brazilians support Bitcoin adoption and legalization

A recent poll by Sherlock Communications found that nearly half of Brazilians agree that bitcoin should be accepted as the country's official currency, as El Salvador did.

Valor Investe reports that 48% of Brazilianssupport bitcoin as a national currency (17% support it without any doubt, 31% with some tolerances). Among the respondents, only 21% rejected this idea (9% categorically, 12% moderately). The remaining 30% of respondents adhere to a neutral position.

The survey was conducted using a researchToluna online platform to explore support for bitcoin and cryptocurrencies in Central and South America. These include Argentina, Chile, Colombia, Costa Rica, El Salvador, Venezuela, and Mexico. Of all the aforementioned regions, Brazil has shown the greatest support for the main cryptocurrency.

"Brazilians are the most active supporters of cryptocurrency acceptance in the region: 56% supported El Salvador's decision, and 48% said they want Brazil to adopt the digital currency as well.", - says the study.

It is noteworthy that the interest of the Brazilians, judging byeverything, focused exclusively on bitcoin. BTC is by far the most famous cryptocurrency among the respondents, 92% of respondents said so, Ethereum and Litecoin were chosen by only 31% and 30% respectively. By the way, these are the two most popular altcoins on the market.

Despite the fact that the mediabitcoin is often portrayed as a "risky" investment, the support of the Brazilians is based on a completely opposite perception. When asked about the purpose of investing in cryptocurrencies, 39% of respondents said they did it to "protect against inflation and financial instability", diversify investments (55%) and follow trends in technology (37%).

This is in line with the government's viewsEl Salvador, which has repeatedly acquired hundreds of bitcoins over the past few days. President Nayib Bukele remains confident that his decision to invest in Bitcoin and accept it as legal tender will benefit his people and move the country forward. Of course, this contradicts the views of banking giant JP Morgan and the World Bank.

Luis Eduardo Abreu Haddad, a Yuank consultant at Sherlock Communications, recognizes the importance of El Salvador's first step in determining neighboring countries' bitcoin policies:

"The El Salvador experiment could be a great example for Latin American countries on how to incorporate blockchain and cryptocurrencies into their economies and ensure the well-being of their citizens."

If Brazilians are open to the idea of ​​accepting BTC, Americans have the opposite opinion. Another recent study found that only 27% are willing to support the legalization of bitcoin in the United States.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Huobi https://huobi.com 7.4
3 Exmo https://exmo.me 6.9
4 OKEx https://okex.com 6.5
5 Bybit https://bybit.com 6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Additional features and services - futures, options, staking, NFT marketplace.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • final grade - the average number of points for all indicators, determines the place in the rating.

Brazilians support Bitcoin adoption and legalization

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