Majority of Brazilians Surveyed See Crypto as the Future of Finance: OKX Survey

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Feb 28, 2024, 07:00 ET

Crypto users overwhelmingly see transparency and security as key for investor confidence, and that crypto offers greater financial freedom than the traditional banking system

SÃO PAULO, Feb. 28, 2024 /PRNewswire/ -- According to the results of a survey conducted by OKX, a leading global Web3 technology company and crypto exchange, the majority of Brazilians see crypto as the future of finance, while crypto natives surveyed overwhelmingly agree that crypto offers users greater financial freedom. Crypto natives also identified transparency, including Proof of Reserves, and security as important for building investor confidence.

The survey, an online questionnaire provided to more than 750 Brazilians in November of 2023, including both crypto users and non crypto users, was focused on user perspectives on accelerating crypto adoption in the country.

When asked whether they saw cryptocurrencies as revolutionary technology that can transform finance and other industries, 78% of all respondents said they "agree" or "strongly agree." Positive responses were even higher amongst crypto users, with 91% of this group saying they either "agree" or "strongly agree" that crypto can transform finance and other industries.

Brazilian crypto users also see crypto as superior to banking in terms of providing financial freedom. When asked about the role cryptocurrency could play in their financial lives, 85% of crypto users surveyed said they "agree" or "strongly agree" that investing in cryptocurrencies offers greater financial freedom and independence from the traditional banking system.

The survey also found that transparency and security are key topics for crypto users in Brazil. Of those crypto users surveyed, 93% of respondents said they "agree" or "strongly agree" that they would feel more confident in choosing cryptocurrency for investment if it was clear about the security of the place where they are investing. When asked about the security of their investments, 86% said they "agree" or "strongly agree" that Proof-of-Reserves (PoR) can positively contribute to the legitimacy and maturity of the cryptocurrency market.

OKX Brazil General Manager, Guilherme Sacamone said: "These insights spotlight both the popularity of crypto in Brazil and how transparency around security safeguards and Proof of Reserves can foster greater trust and confidence. Brazilians trust crypto as the way to transform traditional finance and as adoption accelerates, consumer education becomes pivotal - whether guiding users on self-custody or lowering comprehension barriers for new entrants. By providing robust safeguards and an intuitive user experience, we aim to empower greater Brazilian participation in crypto while propelling maturity across this rapidly evolving landscape."

Learn more and discover all the reasons to trade like a pro with OKX at okx.com/pt-br

About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world.

As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.

The OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

To learn more about OKX, download our app or visit: okx.com/pt-br

Disclaimer

This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Not all products are available in all regions. Please consult your legal/tax/investment professional for questions about your specific circumstances.

SOURCE OKX