A broad ING bank led study has discovered that global interest in investing in cryptocurrency is set to double.
The study comes at a time when cryptocurrency prices are at their lowest this year, with concerns about mainstream adoption, scalability and regulation spreading fear, uncertainty and doubt throughout the ecosystem.
Spanning a large geographical area, including Austria, Australia, Belgium, Czech Republic, France, Germany, Italy, Luxembourg, Netherlands, Poland, Romania, Spain, Turkey, United Kingdom, and the United States, the research presents an overview on global attitudes towards cryptocurrencies.
The key finding was that the percentage of those who planned to purchase cryptocurrencies in the future was double that of those who already owned digital assets. 9% of Europeans involved owned cryptocurrency, in comparison with 25% who planned to make a purchase in the future. Equally, 8% of United States respondents had made a purchase in comparison with 21% who expected to do so in the future. Surprisingly Turkey was revealed to be the most pro-cryptocurrency country examined – 18% of those questioned already held cryptocurrency, with 45% planning to make a future investment.
The results may be hugely positive for cryptocurrency prices, indicating a large number of potential future investors worldwide and potentially mainstream adoption.
The study also identified some key divergences in the demographics of investors. Overall, 77% of men had heard of cryptocurrency, in comparison to only 51% of women. Age was also found to be a determining factor, with those aged 65 and above displaying the least awareness of digital currencies and blockchain technology.
Despite the negative atmosphere felt in cryptocurrency communities, the research shows that there is a growing interest and awareness for the technology across global populations. With developers quietly making significant progress on key issues, news of adoption by large companies now a daily occurrence, and regulators giving the green light, the future of cryptocurrencies seems bright indeed. With so much positivity around this emergent technology, it remains to be seen how long bears will be able to keep crypto prices suppressed and the market in decline.