28 Sep 2021 · 2 min read

Over 1 in 3 Young Spaniards Thinking of Making Crypto Buys - Survey

Source: Adobe/nito

Over a third of 38% of surveyed young Spaniards are considering making crypto investments, while those choosing to eschew traditional banks are far more likely to turn to bitcoin (BTC) and altcoins, a new survey has found.

Per Europa Press, the survey was concluded by the Spanish neobank Rebellion, who asked an unspecified number of people aged between 25 and 40 if they were thinking of “investing in cryptocurrencies in the coming months.”

The firm stated that 21% of respondents said they had already made crypto purchases, with only 19% of those surveyed saying they had bought stocks or paid into pension programs.

Additionally, the number of “cryptocurrency investors shot up to 43% among young people who bank with neobanks,” the media outlet remarked, noting that a number of neobanks in the country already offer crypto buying and selling services.

Rebellion itself struck a partnership deal with the BitPanda crypto trading platform in May this year, Expansión reported back in summer. It initially began offering bitcoin and ethereum (ETH) services, but has since added trading options for altcoins such as litecoin (LTC).

However, some of those surveyed expressed doubts about crypto. “Reliability” was a bugbear for 23% of respondents, while only 27% stated that they thought crypto made a “good investment” choice. Furthermore, 17% of respondents stated that they know “nothing about” crypto.

Regardless, 27% said they agreed with the prediction that cryptoassets are “the future of payments.”

Sergio Cerro, the Rebellion CEO, claimed the survey proved that crypto was “a player” that would play a key role “in the future” of finance.

He stated:

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

Earlier this year, the Spanish retail giant El Corte Inglés hurried through an application for a number of BTC-related brands, indicating that larger-name firms in the country may be working on crypto-related services behind closed doors.
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