Of Mexicans, 25% are willing to abandon their traditional bank accounts to migrate to an account based on these assets.
Interest in cryptocurrencies in Mexico continues to grow, although adoption is not yet massive. 25.2% of Mexicans are willing to abandon their traditional bank accounts to migrate to a cryptocurrency-based account, according to a study conducted by the global market analysis firm, YouGov.
The data reflects the confidence of a portion of users in digital assets; however, the majority of the population is still not convinced, since 42.9% of Mexicans reject the idea of replacing their bank account with cryptocurrencies.
Trust in cryptocurrencies remains a topic of debate, especially following recent events that have fueled discussion in the region.
Of these events, the analysis highlighted that in February, Argentine President Javier Milei generated controversy by supporting the $Libra cryptocurrency on the social network X.
Its initial support spurred a wave of investment in the digital currency, but enthusiasm faded when its developers withdrew more than $80 million just an hour after its launch, causing losses among digital asset enthusiasts.
In this context, the study also addressed the perception of reliability of cryptocurrencies in Mexico.
When asked about the statement “cryptocurrencies are not trustworthy”, 76.4% agreed, while 13.3% of respondents disagreed and 5.7% strongly disagreed, suggesting that a portion of the population trusts these digital assets.
The gender analysis revealed that men were less distrustful of cryptocurrencies compared to women. Among men, 20.7 percent had a more positive perception, while among women, the figure dropped to 17.3 percent.
INCREASED SECURITY
Despite the widespread perception of fraud and scams in the crypto world, data shows that the ecosystem is becoming safer every day.
According to Chainalysis' latest report, illicit transactions accounted for just 0.14% of total digital asset transactions in 2024, a drastic drop from 0.61% in 2023.
On the other hand, cryptocurrency adoption continues to grow. On Binance alone, the largest global cryptocurrency platform, there was a 47% growth in the number of users last year from all over the world. In Latin America, the growth was 63 percent.
In the case of this platform, efforts have been made to reduce fraud through behavioral monitoring, which has allowed us to identify legitimate activities and distinguish them from suspicious movements.
As a result, the company managed to recover US$9.1 million for victims of scams, block 47,000 malicious addresses or accounts, and protect more than 2.8 million users worldwide, preventing losses exceeding US$4.2 billion.
Additionally, in 2024, Binance’s specialized teams facilitated the recovery of $88 million in crypto assets linked to hacks, frauds, and thefts, even when these incidents occurred on external platforms.
