Chileans trust cryptocurrencies more and more

The expansion of the crypto economy in Latam is gaining more and more ground, from the adoption of Bitcoin as the official currency of El Salvador, to cases like Argentina, where cryptocurrencies represent the third medium of commerce after the US dollar.

According to studies such as the Report on Blockchain in Latin America 2021, the economic crisis caused by the covid pandemic since 2020, fueled the growth of investment alternatives such as cryptocurrencies. Not only in Latin America, due to its rapid penetration, throughout the world government regulation is something that is still in process.

The international uncertainty in economic terms was the main engine of the growth of the cryptocurrencies in Latin America as a viable measure to protect investments and assets.

Faced with the global financial context, the openness of Latam to cryptocurrenciesis increasing. In the case of Chile, although slower than in other countries on the continent, lChileans gradually trust more in the use of cryptocurrencies as protection mechanisms and investment diversification.

The adoption of cryptocurrencies in Chile still shows various challenges for their massive acceptance, among them trust. As has happened in countries like Brazil, where interest in the crypto economy has been rapidly gaining ground, experts believe that Chilean citizens will gradually overcome the prejudices due to lack of information that still prevail regarding cryptocurrencies.

For the adoption of cryptocurrencies in Chile , information is a fundamental factor, various studies show that to the extent that the population knows more about it, their confidence in the Decentralized economy becomes greater. Between 41 and 48% of people think that knowledge about blockchain changes their perception about cryptocurrencies.

On the other hand, another element that affects the confidence of Chileans in cryptocurrencies is regulation. 27% of Chileans believe that adequate regulation is necessary for cryptocurrencies in their country.

Although in terms of accepting cryptocurrencies as an official form of financial exchange, Chileans are more cautious about countries like Brazil, Mexico or Argentina, 36% of Chileans think that official recognition by the government is positive and necessary.

The emerging scenario of Cryptocurrencies in Chile, is a sign of a tendency to openness that, as in other Latam countries, offers good opportunities for the launch of a cryptocurrency. Among the main challenges and tools that the crypto economy has, is the informative work towards people who still do not know or mistrust DeFi Tokens.

The launch of a cryptocurrency in Chile represents a challenge and a great opportunity for a solid cryptocurrency project to penetrate a market that until 2021 is 74% dominated by bitcoin.