Between October 14 and November 8, 2023, Binance surveyed 10,498 people from France, Italy, Spain, and Sweden. About 73% of respondents are optimistic that cryptocurrencies will be increasingly introduced into various industries, while the usefulness of digital assets and trust in them will also grow.
55% of survey participants stated that they interact exclusively with digital assets because they are confident in the crypto market and blockchain technology. About 24% of respondents reported that more than half of their total trading volume involved cryptocurrencies.
When asked about the options for using digital assets, 34% of respondents noted that they use them for long-term trading, 26% store their savings in cryptoassets, 13% use cryptocurrencies for day trading and 9% pay for purchases with them. Of these, 55% of respondents use cryptocurrencies for everyday purchases, and 10% pay for purchases with cryptoassets on a weekly basis.
Binance researchers named the main factors for the mass adoption of cryptocurrencies in Europe: the opportunity to get high profits (20%), decentralization and financial independence (18%), as well as the attractiveness of the technology on which cryptocurrencies operate (17%).
About 82% of respondents reported that they had been involved in cryptocurrencies for at least a year, 73% had been actively trading digital assets over the past five years, and 9% had been in the crypto market for more than five years. Only 5% joined the crypto space in the last six months. 53% of survey participants identified themselves as active traders, with the majority trading monthly. About 65% prefer centralized exchange wallets, while 18% of respondents use hardware wallets.
“Cryptocurrencies are increasingly used in everyday purchases, confirming that digital assets are being integrated into our lives. Europe is creating a secure regulatory framework through the MiCA, accelerating mainstream adoption,” said Binance Chief Marketing Officer Rachel Conlan.
According to another recent Binance survey, 76% of users across continents believe in financial equality and improved wealth through cryptocurrencies.
Source: Bits
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