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Home » According to the report, Spaniards use cryptocurrencies more as a savings account than as a means of payment

According to the report, Spaniards use cryptocurrencies more as a savings account than as a means of payment

Important facts:
  • According to Bitnovo, there are Spaniards who bought cryptocurrencies “simply out of curiosity”.

  • According to the report, the acceptance of bitcoin and cryptocurrencies in Spain has steadily increased.

Spanish Bitcoin (BTC) and cryptocurrency users often rely on these digital assets for savings. They also view them as a store of value to ward off inflation. It is a trend that goes beyond the use of crypto assets as a means of payment.

This allows you to see the latest information report Bitcoin and cryptocurrency exchange Bitnovo focused precisely on the acceptance of these assets among Spanish users.

According to the data of the study, which was based on the survey of various Spanish investors, 53.6% of the respondents said so Use cryptocurrencies as a savings option.

Additionally, 60.7% of Spaniards surveyed said they felt motivated to buy cryptocurrencies as they were considering long-term investments. According to Bitnovo, users consider these assets valuable They are the right way to protect your capital.

The stock exchange data also shows that 35.7% of Spanish users Use cryptocurrencies as a means of payment. While 42.9% use them for investments or trade.

Bitnovo points out in its report that the Spaniards also use cryptocurrencies for short-term speculation, hoping to make profits in a short period of time. This is the main motivation of 21.4% of the respondents for the exchange.

17.9% of those surveyed said so They acquire cryptocurrencies just out of curiosityand shows interest in further engaging with this burgeoning ecosystem.

The adoption of cryptocurrencies in Spain is progressing

The Bitnovo survey results are consistent with other data from analytics firms confirming the adoption of Bitcoin and cryptocurrencies on Spanish soil Is constantly growing.

For example, the blockchain analysis company Chainalysis Find Spain Ranked 34th in its Global Cryptocurrency Adoption Ranking, It lists around 146 countries where crypto assets are present.

This figure has been corrected by CoinMarketCap, a cryptocurrency price monitoring website that ranks Spain among the top 20 countries in the world. with the largest number of bitcoin and crypto active users. As CriptoNoticias reports, a report from this server indicates that Spain is the 14th country where cryptocurrencies are most prevalent.

More information is provided by the Organization of Consumers and Users (OCU). who also interviewed several Spaniards. The result of the study was that young people between the ages of 16 and 30 in Spain show great enthusiasm for cryptocurrencies such as Bitcoin and Ether.

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