HubbleBit reports – What the Mastercard New Payments Index Shows about Latin America’s Inclination toward Crypto

London, UK — Cryptocurrency has hit an era of popularity where more and more people are looking to invest in digital assets. People are now more interested in buying Bitcoin and Ethereum. This shows how cryptocurrency has become a mainstream asset. Many experts believe that this is just the beginning and we are still in the early days of cryptocurrency. This means that there is still a lot of potential for growth in this industry.

HubbleBit Broker Vanessa Morgane said, “Cryptocurrency has seen a surge in popularity over the past year, with more and more people looking to invest in digital assets. This is largely due to the fact that cryptocurrency has become more mainstream, with big names such as Tesla and Microsoft investing in Bitcoin.”

There are many different ways to make money with cryptocurrency. One popular method is trading. Cryptocurrency trading involves buying and selling digital assets in order to make a profit. This can be done on cryptocurrency exchanges or through brokerages. Another popular method is investing in cryptocurrency startups. This is often done through initial Coin Offerings (ICOs).

Mining is how new bitcoins are created. Miners use special software to solve math problems and are rewarded with bitcoin for their work. This process is known as mining. The more miners there are, the more secure the network is. Staking is another way to earn income from cryptocurrency. Stakers earn rewards for holding onto their digital assets and helping to validate transactions on the network. This process is known as staking.

Cryptocurrency lending is a newer way to make money with digital assets. Lenders earn interest on their cryptocurrency by lending it out to borrowers. This can be done through decentralized lending platforms such as BlockFi and Celsius Network.

Vanessa Morgane says, “There are many different ways to make money with cryptocurrency. The best way to do it is to find a method that suits your individual skills and interests. There is no one-size-fits-all approach to making money in this industry. You will need to experiment and find what works best for you. With so many different ways to make money with cryptocurrency, there is no excuse not to get started today.”

Latin America’s inclination toward crypto

The digital payments revolution that began during the epidemic is growing, and it’s drawing interest from Latin Americans. According to Mastercard’s New Payments Index 2022, published in May, a third of consumers in the region have already used crypto assets to make a purchase, and almost half say they’ve paid with stablecoin for at least 1 everyday purchase. This study was conducted in 2022 from March to April and included more than 35000 people from all around the world.

The New Payments Index tracks consumer behaviour with new payment alternatives. The study’s second edition, published in January, finds that financial innovation – such as cryptocurrencies, DeFi solutions, and blockchain – is growing at a rapid rate throughout the region. Customers are interested in learning more about this ecosystem, according to the survey.

Latin Americans are more optimistic about the performance of digital assets as an investment, with 54 per cent expressing optimism. Meanwhile, two-thirds of Latinos want the option to use crypto and traditional payment options interchangeably throughout their daily lives.

According to the study, if cryptocurrencies were issued or backed by a reputable business, consumers in Latin America and the Caribbean would be more inclined to invest (69%) and make/receive payments (67%). Despite their concerns about using cryptocurrency, a majority of consumers do want to have cryptocurrency-related features accessible directly through their current financial provider.

What does the study show?

According to the research, interest in bitcoin is growing in Latin America. Many people are interested in using digital assets to make payments and make investments. This might be a consequence of the Covid-19 pandemic, which forced people to use digital payments more often. It has also been seen that people are interested in learning more about cryptocurrencies and want the option to use them interchangeably with traditional payment methods.

Vanessa Morgane said about the study, “The survey above from Mastercard’s New Payments Index shows that there is a lot of interest in cryptocurrency in Latin America. This region has been hit hard by the pandemic, and many people are looking for new ways to make payments and earn money. Cryptocurrency offers a lot of opportunities for people in this region.”

She further added, “I think that we should have more such studies that highlight the interest of people in crypto and the need for more education about cryptocurrency. Many people are interested in using digital assets, but they don’t really understand how they work. I think that financial institutions and providers should do more to educate their customers about cryptocurrencies.”

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.

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