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Young Spaniards May Invest in Crypto

A recent survey found that 38% of Spanish citizens aged between 25-39 years plan to enter the cryptocurrency markets in the next few months. Additionally, 21% have invested in altcoins or bitcoins already.

Why are Spaniards looking to Crypto?

Spanish Neobank Rebellion ran a survey to find out if young Spaniards are considering jumping on the cryptocurrency train in the near future. More than a third of participants responded “yes” to the survey results.

Locals between 25-39 years old are most interested in investing in digital assets. Around one-fifth of them admitted that they have already invested in these assets. Second was deposits and pension funds (19%)

It also revealed the top reasons that young people should be embracing crypto. This is a good investment for 27%, while 27% praise bitcoin and altcoins as the future of payments. However, 17% said they don’t know much about crypto.

Rebellion CEO Sergio Cerro stated that digital assets are a key “factor to consider in the future”.

“The world of payments is experiencing a change and now is the time to decide if we want to participate in this change or not. It is a matter of time before large institutions and organizations begin to accept them as a form of payment.”

Spain Enticed by Blockchain Technology

The crypto industry is not just for young Spaniards. Another report states that 25% of Spanish companies had been exposed to blockchain technology at one time. Even though the number of active users is only 11%, this still represents significant growth when compared to the 1% at 2019’s end.

Furthermore, 46% of large Spanish companies support the incorporation of distributed ledger technology to improve their security for the future.

Jesus Rodriguez, the CEO of technology company REALSEC, stated that while blockchain solutions are becoming more popular in Spain, it is still necessary to improve its efficiency.

“The new economy imposes adopting new business models based on digital innovation. In this context, in 2020, blockchain has begun to be perceived as an efficient technology that contributes to reducing costs and risks and as one of the main technological strategies that want to incorporate a large number of companies.”