Cryptocurrency in Chile

Crypto Awareness in Chile Varies Greatly

The level of awareness surrounding cryptocurrency in Chile is diverse, ranging from deep familiarity to complete unfamiliarity. While a notable 22.4% of Chileans identify as knowledgeable about cryptocurrencies like Bitcoin and Ethereum, a larger portion—51%—admit to having no familiarity at all. Ownership tells a similar story, with only 33.98% of Chileans having ever owned or used cryptocurrency, leaving the majority entirely outside the market.

Interest in Crypto is High, But Many Remain Unconvinced

Interest, however, shows a more nuanced perspective. While 43.46% of respondents are eager to learn more about cryptocurrency despite not owning any, 35.03% express a complete lack of interest. Skepticism is also evident, with a sizable group voicing concerns about risks and downsides.

Mobile Wallets Are the Most Popular Storage Method

For those engaged in cryptocurrency, the methods of storage vary significantly. Mobile wallets or apps are the most common choice, followed by payment services. Traditional cryptocurrency exchanges are the preferred method for some, while integrated financial apps, which combine banking and crypto functionalities, cater to a smaller number.

Cash is Still King, While Crypto Payments Remain Rare

Spending habits further illustrate the cautious approach to digital finance. Cash remains a preferred method for most Chileans, and digital payment conveniences like storing credit card information on mobile devices or desktops are widely adopted. Social and peer-to-peer transactions are relatively lower, with only some sending money via social media and using dedicated payment apps. When it comes to cryptocurrency as a payment method, only 10.55% have used it for transactions.

Bitcoin Dominates Chile’s Crypto Market

Among those engaging with cryptocurrency exchanges, Bitcoin dominates while Ethereum lags significantly behind. This disparity reinforces Bitcoin’s status as the primary gateway into the crypto ecosystem, with other coins struggling to achieve comparable recognition.