According to a survey conducted by Datafolha and Paradigma Education by order of HashDex investment and Coinbase cryptocurrencies, cryptocurrencies in Brazil are superior in terms of popularity in gold and promotions.

The survey was attended by more than 2,000 people from different parts of the country. According to the results, 16% of the inhabitants of Brazil are invested in cryptocurrencies and are open to the latest technologies. At the same time, 29% of respondents compared cryptocurrencies with bets, and 45% with shares.

Cryptocurrencies enjoy much greater success in comparison with investments in foreign currencies, promotions, bonds and precious metals, researchers noted. However, the most popular investment tool for Brazilians was a savings account. 31% of respondents tried to invest in real estate, 24% prefer to store money “under the mattress”, and 19% trust funds to investment funds.

The analyst at the Nomad Fintech Company Paula Zogbi noted that the Brazilian investors buying cryptocurrencies are participants in the market with a high level of risk and high profitability. They prefer to invest in assets with high volatility, sensitive to news events. At the same time, the equivalent in solid currency may be absent in their portfolio.

The General Director of Hashdex Marcelo Sampaio said that the market for cryptocurrencies in Brazil is growing. Therefore, Sampaio sees the need to improve the conditions for investing in this class of assets, as well as stakeing. It is important to increase the financial literacy of the Brazilians and give them more knowledge about cryptocurrencies so that they can use their advantages, added the head of HashDex.

In March, a bill was submitted to the Brazilian Congress, allowing to issue salaries, bonuses and allowances in bitcoins. Last year, the Congress received a bill on the creation of a state reserve in the first cryptocurrency.