Over a third of 38% of young Spaniards surveyed are considering crypto investments, while those who shun traditional banks are much more likely to turn to Bitcoin (BTC) and altcoins, a new survey has found.
According to Europa Press, the survey was completed by the Spanish Neobank Rebellion, which asked an unspecified number of people between the ages of 25 and 40 if they wanted to “invest in cryptocurrencies” in the coming months.”
The company stated that 21% of respondents had already made crypto purchases, and only 19% of respondents said they had bought shares or paid into retirement programs.
In addition, the number of “cryptocurrency investors among young people who bank at Neobanken increased to 43%,” the media company noted, noting that a number of neobanks in the country already offer crypto buying and selling services.
Rebellion itself signed a partnership agreement with crypto trading platform BitPanda in May this year, Expansión reported back in the 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 the respondents expressed doubts about crypto. “Reliability” was a mistake for 23% of respondents, while only 27% said they thought crypto was a ” good investment.” In addition, 17% of respondents said they knew”nothing about” crypto.
Regardless, 27% agreed with the prediction that cryptoassets are “the future of payments.”
Sergio Cerro, the CEO of Rebellion, claimed that the survey proved that crypto was “a player “who would play a key role” in the future ” of finance.
“The payment world is undergoing a change and now is the time to decide whether we want to participate in this change or not. It is only a matter of time before large institutions and organizations accept them as a means of payment.”
Earlier this year, Spanish retail giant El Corte Inglés rushed through an application for a number of BTC – related brands, suggesting that larger firms in the country may be working behind closed doors on crypto-related services.