Europeans see crypto as way to save, invest – Survey

According to a recent study commissioned by crypto trading platform BitMEX, three out of five European respondents declared a 50% growth in their crypto investments.
Europeans see crypto as way to save, invest - Survey
Europeans see crypto as way to save, invest – Survey

The poll, performed by Kantar, was designed to uncover crypto-related consumer trends in 2022. The study found that Europeans see crypto as a way to invest and save for their families, based on 3,000 responses from 14 markets in Europe, Asia, and Latin America.

Fifty-five percent of European participants said they have cryptocurrency. Furthermore, 70% of these respondents stated that crypto is mostly used for their family’s necessities. In addition, 61 percent of those polled believe that cryptocurrency is “a good way to diversify investments.”

Aside from these findings, the study revealed that three out of five European respondents reported a 50% increase in their cryptocurrency investments. While it isn’t as significant as winning the lottery, the survey notes that more than 80% of the surveyed crypto owners’ transactions are $1,000 or more.

The goal of the survey, according to BitMEX CMO Michele Bertacco, was to better understand investor behavior. “The mainstream appetite for crypto is growing at a very fast speed,” Bertacco said after seeing the results.

A different survey released earlier this week revealed that people who have not yet invested in cryptocurrency are concerned about volatility, environmental impact, and regulation. Apart from these, the study identified “lack of understanding” as the most significant barrier to entry into crypto.

Meanwhile, a recent survey found that 80% of participants would be willing to exercise more if they were given cryptocurrency as a reward. In addition, respondents said they are likely to cancel their gym membership in favor of one that is based in the Metaverse.