According to a recent study conducted by a leading cryptocurrency research firm, the average amount of time a person waits to purchase their first cryptocurrency has dropped to less than two months. The study, which was titled ‘Investing in bitcoin: A survey of cryptocurrency investors’, is the third study to be conducted by the company in the past two months. The other studies found that while investors were primarily looking to invest in bitcoin and ethereum, over half of those who responded to the survey said they were less interested in investing in bitcoin than they were in the previous survey. The analysts at bitmd stated that the fact that the average amount of time it takes for Bitcoin to be purchased in the US has dropped to less than two months shows that cryptocurrency is becoming more
Cryptocurrencies have been gaining traction over the years and are now rapidly becoming a new form of payment for businesses and individuals around the world. However, not many people know that cryptocurrencies are a great way to store value, as well as make payments. They have been used by the financial sector for many years, but recently they have been adopted by the general public as a way to pay for goods and services.
Cryptocurrency has been gaining traction in the mainstream in recent years, and a lot of people are jumping onboard, either by investing in it or by using it as a payment option. But what exactly is it? How is it different from regular money? How can you use it safely? And how will it change the way we do things in the future?As Google Trends shows, bitcoin searches are on the rise again worldwide. While search volume has not yet reached 2018 levels, it is indicative of the growing global discourse around digital assets. In partnership with Sapio Research, Skrill, the digital wallet provider of Paysafe payment solutions, surveyed consumers in Europe and North America between March and April 2021. A total of 8 111 consumers from the United States, United Kingdom, Germany, Canada, Italy, Bulgaria and Austria participated in the online survey. Participants who were represented by age and gender received an e-mail invitation to participate in the study. Bitcoin Search Interest(Source: Google Trends) The survey results reveal unique facts and figures about the growing popularity and acceptance of cryptocurrencies. Of the total number of consumers surveyed, the report shows that Bulgaria and the United States have the highest percentage of bitcoin owners, with 36% and 24% respectively, followed by 20% of consumers from Canada and the rest of Europe. Besides bitcoin, other cryptocurrencies are also reaching new heights in terms of ownership. Of the total number of respondents, 9% own Bitcoin Cash, 8% own Ethereum, and 7% own Litecoin. While nearly everyone is familiar with bitcoin, the report provides more nuanced details about consumers’ overall understanding and familiarity with cryptocurrencies. The survey showed that 31% of respondents are familiar with Bitcoin Cash, 22% with Ethereum, 19% with Litecoin and only 10% with Dash, Stellar and Ethereum Classic. But when it comes to using cryptocurrencies as a financial investment, the report found that 47% don’t have enough knowledge about using them as an investment, 38% think investing in cryptocurrencies is risky, and 28% think investing in cryptocurrencies is a great way to secure their future. Source: Sapio research More than 29% of participants said they have learned more about cryptocurrencies this year, and 26% agreed that they are more inclined to invest in cryptocurrencies now than they were a year ago. This trend highlights the fact that the general understanding of cryptocurrencies among consumers has increased. However, respondents’ opinions on what makes cryptocurrencies useful vary widely. 27% see it as the future of payments, 26% as the future of banking and 26% as a good store of value. However, only 17% of participants said they use cryptocurrencies for other purposes, not just as investments. The report also states that 43% of those surveyed currently use digital wallets, while 23% think paying for goods and services with cryptocurrencies will soon become commonplace. Finally, the report highlights the increasing adoption of digital currencies in everyday use. Nearly 9% of participants reported using cryptocurrencies to pay for services this year. Of those, 97% had tried to pay with cryptocurrencies for the first time in 2020. 59% of users who had not used cryptocurrencies to pay for services before said they would use them more often this year, and 44% said it was now the preferred way to pay for goods and services.
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