Two out of Five Millenials Look At Crypto During A Recession, eToro Survey Discovers

A new survey has discovered that 40% of the Millenials in America would rather invest in crypto assets than any other kind of asset during an upcoming recession. According to the study, which was conducted by eToro with 1,000 online investors in the U. S. recently, Millenials are the most open investors to crypto.

According to the data, two-thirds of the investors are afraid of a recession, but their solutions for how to handle it are different. While 40% of Millenials have chosen crypto, 50% of Generation Z had chosen real estate. Generation X is more inclined to invest in commodities, with 38% of them choosing this kind of asset.

Another trend is that fractional ownership interest has spiked. 92% of the investors affirmed that they would like to own pieces of artwork during a recession while 55% of them were eager to sell a portion of their current portfolios if they could find new investments that could be more profitable than the ones that they have right now.

Finally, the study also concluded that high net worth individuals are more likely to invest in Bitcoin than any other kind of crypto asset, as it is the most famous and powerful one.

The managing director at the company, Guy Hirsch, affirmed that during a recession most portfolios would end up shrinking. The main difference now is that crypto provides a true new path. The investment would not be confined only to people with a high net worth. Retail investors and not only institutional ones could gain money during the recession.

Hirsch also affirmed that current investors want more freedom besides just following the status quo of investments and they see an opportunity in Bitcoin.

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Author: BEG News Desk

Survey Reveals Four Out of Five Colombians Are Open To Cryptocurrency Investments

A new survey has recently revealed that 86.5% of Colombians are familiar with Bitcoin (BTC) and that around 80% of them are actually open to investing in this market. The survey was made by the P2P Bitcoin platform Paxful together with Toluna Insights.

According to the information presented by the survey, at least half of everyone between the ages of 25 and 40 has already expressed at least some mild interest in buying cryptos. Most of them wanted to buy Bitcoin (79%). Ethereum, the second-largest token of the market, had only 3% of the people interested in it.

32% of the people who participated in the survey affirmed that they had already participated in crypto transactions and 59% believed that the adoption of the technology would continue to grow in the near future.

Curiously, 91% of the people who responded seemed to be aware that cryptos could change the future of finances forever. 86% affirmed that the technology would need to be properly regulated in the country, as they believed that the current legislation was probably not suited to handle it.

However, only 20% of the respondents actually used crypto at least once. The P2P trading volume in the country is growing a lot recently, although there is no clear explanation for why except the fact that cryptos are getting more mainstream adoption recently.

In the U. S., around 11% of the population have bought Bitcoin, recent research has shown. Most of them have between 18 and 34 years. Despite only a small percentage of the people have ever used it, 89% have heard about it at least once.

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Author: Gabriel Machado

Can Facebook’s Libra Change the Sentiment of Younger Generation Towards Crypto Assets?

Can Facebook's Libra Change the Sentiment of Younger Generation Towards Crypto Assets?

According to a survey conducted by Cint a majority of the Gen Z does not want anything to do with cryptocurrency. While it may sound astonishing but that is the reality as per the survey conducted on 1,884 young Americans.

The firm behind the analysis is also well reputed for its various research and exchange of data. The Moto of the analysis was to understand how Gen Z views the most talked topic in recent years.

The study reveals that 53% of the total number of people who were part of the survey and under the age of 25 do not want anything to do with the cryptocurrency, while 17% of those who were interviewed maintained that they are not going to make any investment in the coming six months. So the study is a clear indication that 70% of the interviewed Gen Z do not like crypto while only 30% have some form of interest.

However, the recent survey is a clear contrast to the one which suggester 55% of the Millenials are more inclined towards crypto investment than any other form of modern day asset.

Can Facebook’s Libra Change the Gen Z Sentiments

Facebook has got the Gen Z addicted to its social media platform and thus many believe that the launch of its stable coin Libra next year could change the way how Gen Z perceive cryptocurrencies.

The most influencing factor in doing so would be the tons of categorised data Facebook has under its possession. Facebook has a multiple generations hooked to their ecosystem which comprises of Facebook, WhatsApp and Instragam. The interoperability among these three itself could be a game changer as people would be able to send money across all three platforms.

However Facebook Libra has to get past a ton of obstacles and scrutiny before it could do something at that scale. Currently, the Libra stable coin is not in good books of several regulators and central banks around the globe, mainly because of its financial structure and working model.

Libra would be backed by a number of Fiat currencies and government security, which is a clever way of avoiding compliance as no single regulatory body have any saying due to its multi Fiat support. Bank of Japan has even accused Libra of trying to piggy ride on regulatory reforms and believe it would be unfair for other digital assets which has to go under rigorous watch it regulatory bodies.

If with some miracle Libra is able to surpass all these obstacles and become the digital money of the internet, people using Facebook, WhatsApp and Instagram would send money as easily as sending messages. Facebook has become an integral part of a quarter of world population as it accounts for 1.5 billion daily users. If we look at the stats in terms of age bracket, 88% of the population between the ages of 13 and 17 years of age and 84% of the population between the ages of 18 and 29 years are regular Facebook users.

The same holds true for Instagram and WhatsApp as well, where 72% of users are under the age of 17 and 64% of the population between the ages of 18 and 29 years use Instagram on a regular basis. On the other hand WhatsApp accounts for 38% of its users are between the age of 18 and 24.

The large section of the population being on Facebook’s ecosystem would make it extremely easy for the social media giants to simply put a crypto wallet on these apps, and users can simply use it as they do for chatting or sharing media files. It would definitely change the way the Gen Z currently perceive crypto space.

This could be another revolution that Facebook becomes a pivotal point of, people would start using crypto with a curiosity and with enough users it would become a necessity as has been the case with the use of Facebook.

Chris Hughes rightly summarizes how Libra is both an interesting and fearful take on the world’s financial network. He says,

“Libra has a long way to go before being successful, but in theory, it’s brilliant and frightening. At the start of the week, I thought the problem would be that it would reinforce Facebook’s corporate power. Now, a few days out, I think the problem is different and bigger: a new layer of monetary control between central banks and individuals, mediated by corporations”

He went on to add,

“What Libra backers are calling “decentralisation” is in truth a shift of power away from developing world central banks and toward multinational corporations and the central banks of the largest economies.”

“If #Libra is successful, the problem will be bigger than more power for Facebook. We’ll have to answer whether we want a global currency managed by (mostly) for-profit, private companies or public ones.”

However all these are just speculation especially until the actual launch of the token as per the initial plans. It is also interesting to note that it is not the first attempt from Facebook to introduce a form of money transactions in their ecosystem.

Easier they had introduced messenger payments which failed to take pace and finally had to be shut down. Banking and Social media are two totally different ball game, and given the scrutiny it has faced for poor management of user private data along with their Libra working model, it would be one daunting task if they succed at it.

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Author: Bitcoin Exchange Guide News Team

Bitcoin Needs to Be Involved in More Real-World Apps, According to Over One Fourth of UK Residents

Cryptocurrency-Needs-to-Be-Involved-in-More-Real-World-Applications-Says-27-of-UK-Residents
  • CEX.io took a survey to understand the needs and expectations of the public in the UK, in relation to cryptocurrency.
  • The survey revealed that more people would be involved in cryptocurrency with more real-world use cases and integration into familiar technology.

Cryptocurrency, even though it has been around for 10 years, still has many people around the world that know nothing of it.

The lack of information for the public is one of the major reasons that the industry still has not reached the level of notoriety hoped for, but that does not mean that the public is not interested. In fact, in recently published research by the CEX.io crypto exchange, it appears that 27% of the surveyed citizens in the United Kingdom are hoping for more “real-world applications” of digital currency.

In a report from BTCManager on June 27th, CEX.io offered the results of their survey, primarily centered around adoption, application, and expectations of digitals currencies in the region. The survey involved 1,013 respondents.

In the survey, 32% of the individuals said that it would be nice to have the tech integrated more easily into payments apps, mobile storage, and other types of “everyday technology.” Real-world use cases for cryptocurrency, like credit card payments and sending cross-border payments, are desired by about 27% of respondents.

The survey asked the participants why they personally own cryptocurrency. While 18% said that they just liked trading in general, curiosity and hoping for prices to surge were the reasons for 21% of respondents, each. In the survey, nearly half of the cryptocurrency owners had some amount of Bitcoin, which makes it the most dominant coin amongst participants.

Of the people who did not hold cryptocurrency at the time of this survey, 28% said that this would probably change if they understood it better. However, 12% said that they wanted to have an understanding of how to store it safely and securely before owning it, and another 11% said that they would purchase cryptocurrency if it could buy real-world goods. Making cryptocurrency easier to purchase was the leading reason for 7% of respondents.

Kaspersky Lab, a cybersecurity firm in Moscow, held a survey that was published on June 17th, stating that 19% of people around the world have purchased cryptocurrency before.

However, that means that 81% of the respondents have never purchased cryptocurrency. Overall, there were 10% of respondents who said that they “fully understand how cryptocurrencies work,” which means that there is a fraction of people who are involved with cryptocurrency but do not understand it.

The deVere Group, a financial consulting firm in Dubai, released a survey last month that showed that 68% of the individuals in the world with a high net worth already have invested in cryptocurrency, or plan to by 2022.

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Author: Krystle M