Is Cryptocurrency The Future Of Online Spending?

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Is Cryptocurrency The Future Of Online Spending?


The media’s interest and concentration were always drawn to the highs and puddles of cryptocurrency values. We’re curious about how citizens in foreign nations feel about cryptocurrencies and just how they predict it would do in the field. In a recent ING International poll, citizens from 13 separate countries, such As Europe and Australia, and New Zealand, were questioned what they thought about cryptocurrencies.

The Current State of Affairs:

If we polled 100 people around Europe, we found that 66 had learned about bitcoin, nine had already purchased digital currencies, and 25 expected to do this shortly. Males are more prone to wish to own, and they are more probable to be always banking on the move – on their phone, handheld computer, or smart device. Cryptocurrency possession is projected to rise in all of the countries listed. In Europe, the total percentage rise is 16 points. Will bitcoin, on the other hand, become a more common currency in the potential, or will it stay a niche speculation commodity for the time being?

Are You Looking for The Mainstream or Something More Niche?

Our recent mobile payment surveys have shown that cashless transactions are becoming increasingly common, but a sizable portion of the European population is uninterested in reforming their existing payment methods. This isn’t shocking, considering our penchant for keeping the status quo nor our resistance to change.

What’s odd is that considering its media iniquitousness due to its uncertainty, the number of citizens who think cryptocurrency is the prospect of internet shopping has risen by 7% since 2015. Furthermore, bitcoin owners are required to claim they will not use cryptocurrencies for sales because of the danger involved.

We believe that economists were already learning regarding cryptocurrency demand functions. When seen alongside price fluctuations, our survey results refute the notion that cryptocurrency is a “safe” currency. They also support the idea that developing markets and those with fewer liquid coins or perhaps more unpredictable market prices have greater crypto ownership. And some apps help you invest, and one of them is Green Profit System which is aimed and designed to analyse and respond to trend in the market, for more information you can go through this page quantum ai website

It’s possible that the reason that younger citizens and nations with lower per-capita wages, including such Poland, Romania, Spain, Turkey, including Italy, are more likely to be using bitcoin or another is attributed to the reason that conventional finance services are less effective or costly to use in certain regions. Despite this, 35% of citizens think cryptocurrency transactions are the future of internet banking, and a comparable percentage (32%) say it is the future of investment. However, most people believe it is an increasing force than currency, gold, real estate, treasury securities, starting their own company, or related to the stock sector.

According to behavioural psychology, this is how the typical person’s risk assessment is influenced by an average preference for visible and common properties like gold and real estate rather than the right degree of risk posed by a single asset type.

Willing to Take the Chance?

Given that perhaps the currency price fell from $13,860 to $6,926 throughout December 2017 through March 2018, it’s no surprise that many people consider Bitcoin to become a high-risk investment. According to our findings, cryptocurrency is a comparatively complicated investment that necessitates professional expertise to participate in. If they were making investments, more people do look to experts or specialized blogs rather than friends or family for information. And 30% claim they won’t spend because it’s too risky.

We believe that economists were also thinking about cryptocurrencies’ demand functions. When our survey results are combined with the uncertainty of bitcoin’s price, it disproves the notion that bitcoin is a “safe” commodity. It also aligns with the idea that developing economies and those with fewer stable currency or more unpredictable exchange rates have such a larger crypto ownership percentage.

It Is Impossible to Predict the Future:

Different perspectives on cryptocurrencies can be influenced by various influences, including tradition, experience, technological adoption, risk perceptions, and media attention, to mention a few. Its potential adoption is also unknown due to the lack of consistent patterns around these variables.

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