Study By ING Bank Shows Interest In Crypto Will Be Doubled Soon

Renowned research company Ipsos recently conducted a research on the cryptocurrency market on behalf of ING Bank. The study focused on how the crypto market is perceived by people living in Europe, the United States, and Australia. The report concluded that the interest of the public in cryptocurrencies will double in near future. As an overview of the report, it mentions that 9% of the respondents in the study were owners of cryptocurrencies while 25% claimed to own some cryptocurrencies in the near future. The report also concluded that the highest percentage of cryptocurrency ownership is currently in Turkey (18 percent) while the lowest is in Luxembourg (4 percent).

According to the research company, the survey is conducted multiple times each year and takes age and gender of the respondents, and the population of the country in the account. The survey also reaches out to approximately the same amount of people for the survey in each country. This latest survey was conducted between 26th of March and 6th of April, 15 countries were a part of this survey and 1,000 respondents were surveyed from each of these 15 countries.

The study showed that 66 percent of all European candidates knew about cryptocurrencies. In split figures, 77 percent of all men and 55 percent of all women were aware of the technology among the pool. 35 percent of the respondents admitted that the technology was the future of online spending while 35 percent believed that the value of cryptocurrencies will increase in the future. Awareness of cryptocurrencies in all the surveyed country was at least 50 percent or above. Australia and Poland had the largest share of crypto awareness with 79 percent and 77 percent respectively. In the United State, 57 percent of the respondents were aware of the technology.

According to the report, less than one in every ten people in Europe actually owned cryptocurrency, the same share was seen in the United States and Australia. The report also observed that mobile-banking individuals were more inclined towards dealing with cryptocurrencies while individuals who weren’t mobile bankers.

When to opinion of risk in investing in cryptocurrencies, most of the respondents accepted cryptocurrencies to be a riskier investment than real estate, cash, the stock market, or government bonds. As for preferred sources for information on the cryptocurrency market, respondents from 11 countries said that they prefer specialist website. Respondents from Luxembourg, France, and Spain said that they would prefer consulting financial or bank advisors before investing in cryptocurrencies. Italy’s respondents said that they would prefer both, consulting a financial advisor as well as specialist websites. This is also worth mentioning that this report isn’t the first time a study has shown that the world’s interest in cryptocurrency will grow considerably in the future. According to the World Wealth Report 2018 developed by Capgemini, the interest of the public towards cryptocurrencies has grown with a considerable margin, and the pattern will hold.

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