More Americans Interested in Cryptos, New Survey Shows
Other surveys indicate that bitcoin is the most liked cryptos due to credibility.
Americans Influenced By Friends To Adapt Cryptos
Since Bitcoin was released, the cryptocurrency industry has been changing significantly. The main goal has been to see a wide-scale adoption of cryptocurrencies. However, the adoption has been slower than expected. Some tech firms have been attempting to spearhead the adoption, but it has not been an easy job.
By 2016, bitcoin had not gone mainstream. This development did not attract publicity as expected. Currently, the cryptocurrency journey can be only be described as revolutionary.
To determine how well Americans understand the cryptos better, Clovr commissioned a research. Clovr, is an American firm focused on pushing for mainstream adoption of cryptos and the entire blockchain technology.
The researchers deployed the Amazon’s Mechanical Turk Platform to conduct the survey. About 1,000 Americans took part in the survey. The respondents were asked about if they have any investments in cryptos and their views regarding the entire crypto market.
From the results, 75% of Americans said that they knew something about cryptocurrencies. 60% stated that they have sufficient knowledge about the digital currencies and they were in a position to educate others.
The interesting answers came when respondents were asked about their own view about investments in cryptos. A majority of the respondents stated that they had interests in cryptos due to influence from friends. Additionally, they don't want to miss out just in case the value of cryptocurrencies goes up. Approximately 17% states that their gut feeling forced them to join cryptos.
While releasing the result, Clovr said that the view on cryptos within America was split due to the volatility of the market. Clovr added that at some point, emotions are playing a big role in driving patterns.
Apart from the Clovr research, other firms have conducted numerous studies that highlighted that the public is warming up in the favour of bitcoin. Bitcoin popularity is rising due to credibility despite the drop in value. This is an indication that bitcoin might be rising soon.
In July, Foley & Lardner, a law firm, commissioned a study that indicated that most people believe that Bitcoin has the highest capability for mass adoption. The firm conducted a second survey, where the majority of the respondents said that they might venture into bitcoin.
Clovr stated that millennials were the biggest lot that has showed interest in cryptos. Those who have cryptos are expecting for another all-time high in 2018.