A recent survey commissioned by Coinbase and Hashdex has revealed that cryptocurrency has gained significant popularity in Brazil. It has surpassed traditional investment options like stocks and gold.

The survey found that savings accounts remain the most common investment tool for Brazilians. However, cryptocurrency has emerged as a strong contender, ranking ahead of both gold and the stock market.

Despite being the fifth most popular investment overall, cryptocurrency (16%) has outperformed other options such as dollars, foreign currency, and bonds.

Money under the mattress (24%) and investment funds (19%) are also ahead of crypto. The survey indicates that the growing acceptance of cryptocurrency is reshaping the Brazilian investment landscape.

Experts suggest that the high-risk, high-reward nature of cryptocurrency appeals to a significant portion of Brazilian investors. Many of them in Brazil are drawn to volatile assets, with 29% of participants viewing cryptocurrency similarly to betting.

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