Cryptocurrency

Crypto adoption in Europe is lower than other parts of the world, a new survey finds

Europe is lagging behind the world common for cryptocurrency adoption however one European nation was the most “curious” in the world about studying extra about crypto, a world survey suggests.

Whereas round 17 per cent of Europeans have taken to cryptocurrencies, a proportion just like other developed nations, they lag behind the world common of round 23 per cent.

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Adoption in the US was 18 per cent, and in Australia 20 per cent. That’s based on a world survey carried out by cryptocurrency platform Gemini.

Surveying 29,293 adults in 20 international locations, the firm explored consciousness of cryptocurrencies, motivations for proudly owning and buying and selling them, normal attitudes towards them, and limitations to proudly owning them.

European international locations surveyed have been: Denmark, France, Germany, Eire, Norway, UK.

2021 was a breakthrough yr for crypto adoption

The survey discovered that globally 41 per cent of crypto house owners made their first buy in 2021. In Europe, 40 per cent of those that personal crypto first invested final yr.

Out of the international locations surveyed, Eire had the highest quantity of “crypto curious” shoppers in the world who have been in studying extra or have been possible to purchase crypto in the subsequent 12 months, at 58 per cent.

The quantity in Germany and the UK respectively was 53 per cent and 49 per cent.

Respondents who don’t personal crypto have been requested why they haven’t but purchased it.

Some 35 per cent of these in Europe mentioned that they had issues about safety, and 34 per cent mentioned they didn’t know the right way to purchase or maintain crypto.

Europeans who additionally mentioned it was as a result of they didn’t belief it stood at 33 per cent, which was a increased proportion than in other parts of the world.

Whereas 2021 was a breakthrough yr for crypto adoption, 2022 may very well be slower in Europe. Solely 7% of these in Europe who haven’t but purchased crypto have been planning on shopping for it, versus 21% globally.

Other findings from the survey

The survey additionally discovered that solely 15 per cent of these in Europe mentioned they discuss cryptocurrency with buddies, in contrast with 30 per cent globally.

Many European international locations rank strongly for his or her long-term conviction in crypto, with 80 per cent of UK traders, 79 per cent of German traders, and three-quarters (75 per cent) of French traders shopping for and holding for the long run, based on the report.

Europeans are much less possible than shoppers in other markets, the survey confirmed, to see cryptocurrency as the future of cash (19 per cent in comparison with 38 per cent globally).

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