• Over a third of young Spaniards are considering investing in cryptocurrency

  • According to a new survey, more than a third of young Spaniards (38%) are considering crypto investments, while those who avoid traditional banks are far more likely to use bitcoin (BTC) and altcoins.

    The survey was conducted by the Spanish neobank Rebellion, which asked an unspecified number of people aged 25 to 40 if they were considering “investing in cryptocurrencies in the coming months,”.

    According to the firm, 21% of respondents said they had already purchased cryptocurrency, while only 19% said they had purchased stocks or contributed to pension plans.

    Furthermore, the number of “cryptocurrency investors increased to 43% among young people who bank with neobanks,” according to the media outlet, which noted that a number of neobanks in the country already provide crypto buying and selling services.

    Expansión reported in the summer that Rebellion had struck a partnership with the BitPanda crypto trading platform in May of this year. It began by offering bitcoin and ethereum (ETH) services, but has since expanded to include altcoin trading options such as litecoin (LTC).

    However, some of those polled expressed reservations about cryptocurrency. “Reliability” was a major concern for 23% of respondents, while only 27% thought cryptocurrency was a “good investment” option. Furthermore, 17% of respondents said they know “nothing” about cryptocurrency.

    Regardless, 27 percent of respondents agreed that cryptoassets are the “future of payments.”

    The survey, according to Sergio Cerro, proved that crypto was “a player” who would play a key role “in the future” of finance.

    He explained:

    “The world of payments is changing, and now is the time to decide whether we want to be a part of it or not. It’ll only be a matter of time before large institutions and organizations start accepting them as payment.”

    El Corte Inglés, a Spanish retail giant, rushed through an application for a number of BTC-related brands earlier this year, implying that larger-name firms in the country are working on crypto-related services behind closed doors.

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