Cryptocurrencies Are in Brazilians’ Voting Plans, Survey Says

A survey conducted in Brazil reports that cryptocurrencies are in Brazilians’ plans when it comes to voting, indicating that voters in the country want to know the candidates’ proposals for these technologies.

According to a recent study conducted by the live coinsBrazil’s presidential candidates did not support Bitcoin, despite showing support for blockchain technology.

But among legislative politicians, the figure is changing a bit, with several delegates elected in favor of bitcoin and other cryptocurrencies.

Research shows that cryptocurrencies are taken into account when voting

As part of the election process, Bitso, the leading cryptocurrency platform in Latin America, has commissioned a survey conducted by the Instituto FSB Pesquisa of more than 2,000 people across the country to obtain voters’ perceptions regarding to the level of knowledge, trust and relevance of the crypto economy.

In its results, it draws attention to the fact that: three in four people have heard about cryptocurrencies and 44% already have or plan to have a currency.

However, trust seems to be one of the major barriers to greater penetration of cryptocurrencies into the national market. A third of the respondents indicate that they still do not have a relationship of trust with these new financial resources.

However, data has shown that there is a direct correlation between trust and digital currency adoption: the more people trust, the more they want to acquire cryptocurrencies.

The study indicated that voters value cryptoeconomics as a campaign proposition, indicating that the topic is relevant when planning their future. Most people (60%) find it important that the topic of ‘cryptocurrencies’ is one of a candidate’s proposals.

For Karen Duque, Head of Public Policy at Bitso in Brazil, the election is one of the critical moments and cryptocurrencies are already being considered.

“Elections are one of the most critical moments of any democratic process in which social aspirations and expectations are latent. We noticed a change in the investment profile of Brazilians and we conducted this research with the aim of analyzing the influence of the current scenario on people’s behavior and expectations.”

More than 2,000 people took part in the study.

In order to conduct and conclude the research commissioned by Bitso, between September 26 and 27, on the eve of the 1st, 2023, people aged 16 and over in Brazil were interviewed by telephone in the 27 Federation Units (UFs) . election round on October 2.

According to the Instituto FSB Pesquisa, which conducted the study, the margin of error in the overall sample was 2 percentage points, with a 95% confidence interval, controlled by quotas of: (a) gender, (b) age, (c) region , (d) education.

It is important for the broker’s head of government policy to invest in education on this subject and to promote regulation that can improve investor protection.

“Today we see an increasingly diverse audience turning to cryptocurrencies to meet a variety of needs: from making purchases or paying taxes with crypto, to holding assets as a way to diversify and guard investments. against the devaluation of fiat currency. Understanding the growth potential of this segment makes it urgent to invest in education and promote market regulation to improve consumer protection.”

Source: Live Coins