Crypto Rises Above Banks’ Investment Options
A survey on Chile has been compiled and published by a consultancy firm called “Bain & Company”.
Some shocking revelations have been made in the findings of the survey which focused on determining 2022’s best investment options for Chileans.
The findings of the survey revealed that cryptocurrencies have gained enormous popularity in Chile in 2022 than banks and their investment schemes.
The states falling within Latin America are currently victims of high inflation rates and enormous devaluation. Resultantly, the people living in such states are resorting to and drawn towards crypto investments.
Bain & Company’s Survey Findings
Chile is one such state in that region where inflation is relatively much higher than any other state in the region.
There are innumerable options for conventional investments yet crypto was found to be the number one choice among Chileans.
Hence, at present, there is no better investment option than crypto in Chile, as noted in Bain & Company’s survey.
Bain & Company is an American consulting firm that voluntarily took the task of determining the best investment options in Chile in 2022.
The survey revealed that 23% of the respondents unanimously agreed and opted for cryptocurrencies as their first choice for investment in 2022.
According to the survey, crypto investment is ranked at number 3 spot as an investment option preferred by the majority of Chileans.
The number one spot was however secured by conventional investment funds according to Bain & Company’s survey.
The survey claimed that 36% of the surveyed individuals, which represented the majority of respondents, voted in favor of investment funds.
Similarly, 24% of surveyed individuals opted to go with real estate investment which subsequently secured the second position after the conventional fund investment option.
Why So Much Interest in Crypto?
Of course, the findings of the survey were influenced by the rapidly developing and fastest-growing industry of digital assets in Chile. The adoption rate of cryptocurrencies in Chile is enormous.
The people in the country are attracted to cryptocurrencies and they want to have as many investment opportunities as possible.
One of the major aspects behind crypto adoption in Chile is the sentiment that crypto investment offers promising returns. People in Chile are heavily attracted to cryptocurrencies.
They believe that cryptocurrencies have the power to offer them huge returns and gains. Therefore, they like to invest in cryptocurrencies on larger scales hoping to gain larger returns.
This fact was even re-affirmed by Bain Chile’s partner namely Marcial Rapela.
Rapela notes that Chileans seem to be following the same trend which gave immense rise to the popularity of cryptocurrencies all over the world.
He said that the driving force behind this trend is the assumption that cryptocurrencies have the potential of offering high yields.
However, Rapela also suggested that still most Chileans prefer conventional and authentic options of investment as opposed to cryptocurrencies.
He said that investment funds and real estate investment options continue to secure the top two positions amongst most Chileans.
Rapela also remarked that though crypto is at number 3 yet the credit cannot be taken away from crypto for its achievement.
Crypto Offers Higher Yields
He noted that crypto should be appreciated for outperforming enormously authentic investment options of stocks, commodities, forex, bonds, precious metals, etc.
It may be noted that only 21% of the surveyed individuals voted for stocks while only 19% favored bonds.
Usually, investors’ preference is investment funds first, then stocks and then bonds, and so on. Most importantly, the majority of investors tread cautiously while engaging with risky assets or such assets where volatility is relatively higher.
Cryptocurrencies are hence risky assets and volatility is exorbitantly higher in them by default.
However, crypto investment has certainly disturbed rankings in Chile, particularly in 2022, by elevating above many ranks to reach the third.