European families see crypto as a tool to increase savings: Survey

Although crypto investing has its risks, many people see it as an opportunity to increase their family’s savings, according to a BitMEX study.

Kantar conducted the survey to find crypto-related trends in 2022. The study surveyed 3,000 people in 14 countries across Europe, Asia, and Latin America. It found that crypto is a popular choice for saving money and investments for Europeans.

55% of European participants stated that they hold cryptocurrency. 70% of the respondents stated that cryptocurrency’s primary function is to support their family’s financial needs. The survey found that 61% of respondents consider crypto a “good way to diversify investment.”

These findings were not the only ones. The study also revealed that three-fifths of five European respondents reported a 50% increase in crypto investments. Although the survey doesn’t show a significant increase in winning the lottery, it does indicate that more than 80% transactions by surveyed crypto owners were $1,000 or higher.

Michele Bertacco, BitMEX’s chief marketing officer (CMO), stated that the survey was designed to better understand investors’ behavior. Bertacco shared the results and explained that crypto’s mainstream appeal is increasing at a rapid pace.

Related: NBER study: El Salvador’s businesses now accept Bitcoin.

A different survey earlier this week found that crypto investors are concerned about regulation, volatility and environmental impact. The study found that investors are unable to access crypto because they lack understanding.

A recent survey found that 80% of respondents would be willing to exercise more if they were given cryptocurrency as an incentive. Respondents also indicated that they would be willing to cancel their gym membership for one located in the Metaverse.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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