According to a survey conducted by the largest crypto exchange Binance, the vast majority of Europeans expressed confidence in the favorable prospects for the cryptocurrency sector.
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.
