A survey by worldwide cryptocurrency change Binance launched at this time confirmed that the majority cryptocurrency traders purchase it as a part of a long-term funding plan. Different motivations for investing embrace mistrust of the monetary system, short-term buying and selling income, and worry of lacking out (FOMO). The International Crypto Person Index-2021 survey coated 61,000 customers throughout 178 international locations and areas.
In accordance with the report, cryptocurrency homeowners are predominantly male, with a mean age of 34, an undergraduate diploma, and a mean revenue equal to $25,000 per 12 months. Cryptocurrency customers have a tendency to purchase it out of disposable funds moderately than by promoting different belongings or taking over debt. The usage of cryptocurrency as a retailer of worth is most typical adopted by staking and lending and funds. Utilizing cryptocurrency as a medium of change isn’t seen as an essential use case, by individuals within the survey.
The survey additionally identified that most individuals (60% of these surveyed) retailer cryptocurrency on an change, with the safety of the change being a very powerful standards adopted by the consumer interface (UI) or consumer expertise (UX) and availability of buying and selling pairs on the change. Cryptocurrency may also be saved offline away from exchanges in chilly wallets. On the whole, the survey additionally discovered that low ranges of institutional belief are related to larger cryptocurrency utilization. Nevertheless, among the many markets surveyed, India had among the many largest ranges of institutional belief.