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The results of the first study on cryptocurrencies conducted in Mexico have been released. The study ranks the most popular digital assets according to 1,416 mobile phone users. Bitcoin led as the best known, followed by Bitcoin Cash.

After Brazil, Mexico is the second largest buyer of cryptocurrencies in Latin America.

Highlights from the study

The most recognized cryptocurrencies

Bitcoin 61.2%

Bitcoin Cash 38.8%

Litecoin 16%

Ethereum 15.5%

Ripple 12.8%

Percentage of participants who have purchased or used cryptocurrencies at some time

26.5%

How people are using their cryptocurrencies

for purchases and online payments 35.2%

for long-term gains 32.5%

for short-term gains 20.5%

Of the people who have purchased crypto, percentage who bought

Bitcoin 72.8%

Ethereum 18.1%

Bitcoin Cash 14.4%

Ripple 13.9%

Litecoin 13.6%

Of the people who have purchased crypto, percentage who are hodling

Ripple 61.5%

Litecoin 54.9%

Ethereum 45.6%

Bitcoin 45.1%

Bitcoin Cash 40.7%

Percentage of participants who currently don’t own or have never owned crypto but who would like to acquire Bitcoin or other cryptocurrencies in the next 6 months

46.1%

Of those who are not interested in crypto,

47.4% say they’re afraid of fraud

39% say they don’t understand it enough

30.5% say they don’t have enough support

29.9% say they’re afraid the cryptos will tank in value

Most popular online platform for buying cryptocurrencies

Bitso.com 40.6%

Local Bitcoins 13.2%

Bittrex 11.8%

Most popular apps for buying cryptocurrencies

Bitcoin Wallet 37.9%

Bitso 31.7%

Plus500 13.2%

Hoy se lanzó el #CriptómetroMx18 en los HQ de Fiinlab. Un estudio profundo sobre penetración y conocimiento de #Criptomonedas, en colaboración con @Bitso, Psyma y @WisumAPP . Interesantes insights, avances, pero mucha tarea por delante. ¡Conoce los insights más relevantes! pic.twitter.com/krgCQfRzmP — Fiinlab (@Fiinlab) August 7, 2018

The study, called MX18 Cryptometer, was conducted between May 22 and June 5, 2018 by research firm Psyma in collaboration with Fiinlab, the innovation laboratory of Gentera; Wisum, a direct survey platform for mobile phone users; and Bitso, Mexico’s largest Bitcoin exchange.

Eighty percent of the participants were under the age of 40; 62.2% men and 37.8% women; 33.2% from Mexico City and the State of Mexico; 29.9% from other states; 21.5% from Jalisco and 15.4% from Nuevo León.

The purpose of the study is to increase general knowledge of Bitcoin and to generate more insight on how cryptocurrencies are providing a path to financial inclusion and a bridge to the new digital economy.

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