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January 17, 2022
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Financial Way of Future, Building Wealth Are Key Drivers of Owning Crypto: Study Shows

Credit card cost big Visa lately has carried out a examine, which exhibits that as much as 42% and 41% of the respondents respectively consider “the financial way of the future” and to “build wealth” as the largest catalysts of motivation by proudly owning cryptocurrency.

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The report titled “The Crypto Phenomenon: Consumer Attitudes & Usage” noted:

“The biggest drivers of owning and using cryptocurrency are to take part in the “financial way of the future” (42% Owners) and to construct wealth (41% Owners) – each ahead trying motivators.”

Meanwhile, the examine can also be divided respondents into 5 classes from “active owners” amongst crypto house owners to “unengaged” non-crypto house owners. 94% of the responders globally have outfitted crypto-awareness. As per the examine:

“Nearly one in three crypto-aware consumers already own or use cryptocurrency, with the majority saying that their use has increased in the past year (62% Owners), and two-thirds expecting that they will increase the share of their investable assets invested in crypto in the next 12 months (66% Owners).”

In partnership with LRW, a fabric firm, the examine surveyed 6,430 monetary decision-makers unfold throughout eight markets: the U.S., South Africa, Hong Kong, the U.Okay., Germany, Brazil, Australia, and Argentina. 


Part of the insights gained from the web survey carried out between August 25 and September 13 this yr was that cryptocurrencies are half of the favored consciousness and are poised for extra development, particularly in rising markets.


The analysis additionally famous that customers transacting with cryptocurrencies had been inspired by elements just like the avoidance of trade conversion charges, low transaction charges, and accessibility to transact at any time.


Moreover, monetary institutional involvement, significantly by means of crypto rewards and crypto-linked playing cards, can be instrumental in broadening acceptance and development.


Meanwhile, Visa seeks to assist monetary establishments harness cryptocurrency alternatives and pilot new consumer experiences and improvements like crypto reward packages by means of its lately launched advisory companies as half of the consulting & analytics division. 

Image supply: Shutterstock

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