• August 21, 2022

Are you in “crypto” to make money or change finances? See what the community says

Are you in “crypto” to make money or change finances? See what the community says
Key facts:
  • On ETHLatam, viewers claimed that they have cryptocurrencies because of the financial revolution.

  • CEOs of cryptocurrency exchanges agreed that many users use them to make money.

At the conference on cryptocurrency adoption in Latin America, at the ETHLatam event, a question was asked to the thousands of spectators who attended. One of the panelists, Manuel Beaudroit, who is the co-founder and CEO of the Belo exchange, asked the attendees to raise their hands if they were in “crypto” to make money or for the financial revolution.

After the question, a wave of hands rose in the auditorium assuring in his majority that was in the cryptocurrency ecosystem by the revolution. However, the CEO of Belo commented that he made the same query on Twitter recently and most of his followers answered the opposite: that they were to make money.

Recalling the result of the poll he made on Twitter, he said: “The majority answered [que estaba] for the twine/money, but when we started most of us were for the revolution. I think there’s something about ‘I want to change the world’ and we think this technology can do that. We are the children of the internet and we need to create something there.”

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However, he indicated that understand that many seek to make money with cryptocurrencies due to the economic difficulties that Latin America is going through. As an Argentine, he stressed that “we are cockroaches” for living with inflation and currency devaluation. Under that idea, he warned people not to leave the money in pesos in their bank account, since it is constantly devalued.

That explains why Argentina is in the top 10 of the countries with the highest adoption of cryptocurrencies, stress. “We knew how to build things by becoming resilient to so many crises,” he summarized about the adoption of cryptocurrencies and blockchain by the Latin American community.

ETHLatam in Buenos Aires
The cryptocurrency exchanges Belo, Ripio, Bitso and Lemon agree that the adoption of cryptocurrencies allows much more than making money. Source: ETHLatam.

Cryptocurrency adoption surges in bear market, say exchange CEOs

From the Bitso exchange, the director of public policy, said: “I think blockchain and crypto is going to be in everyone’s life in a short time.” To this, moderator Olivia Goldschmidt added that, in quiet times of the crypto market like the current one, not so much money is generated. “But that’s really what we’re going for, isn’t it?”, he asked estimating that it is what some expect from the future of cryptocurrencies.

Along the same lines, the co-founder and CEO of the exchange Ripio, Sebastián Serrano, said in the following talk: “It happens to us a lot that we look at crypto as money. And as Argentines we see it from the perspective of inflation. But this is of much more root. There are certain issues that we can solve with crypto.”

Also, later in a conversation with CriptoNeticias, Lemon’s co-founder and CEO, Marcelo Cavazzoli, said that, despite the bear market in 2022, they have not seen a decrease in operations on their platform. In fact, on the contrary.

He revealed that the last two months were “almost a record” in the sale of cryptocurrencies and other operations on its platform. “I think it’s weird this time. In this bear market, the adoption continues to increase, of all the people who are using crypto,” he concluded. This is something that Ripio also confirmed to Criptonews months ago.

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