Despite a disruptive end to 2022 within the crypto industry, a vast majority of consumers remain confident in the future of cryptocurrency and are unphased by the volatility the marketplace has experienced over the previous months. According to new research from Paxos, the leading regulated blockchain infrastructure & tokenization platform, 75 percent of respondents indicated that they are very confident or somewhat confident in the future of cryptocurrency. An additional 72 percent of respondents reported that they have little or no concern about the volatility the crypto markets experienced over the last year. Furthermore, despite the high-profile collapses and oversight issues stemming from the implosion of FTX and others, consumer trust in intermediaries for crypto holding remains high, with 89 percent of respondents saying that they continue to trust banks, crypto exchanges and/or mobile payments apps to hold their crypto. There is huge appetite among consumers for greater expansion of crypto into their everyday financial lives – specifically, financial transactions. When asked what their most desired use cases for crypto are, three of the top responses called for greater integration in daily financial activity including: paying for goods and services (42 percent); credit cards or loyalty card programs (38 percent); and sending money to friends and family (34 percent). Other top use cases included long-term investing (52 percent) and day-trading (36 percent).
Full report : Consumer Confidence in Crypto Remains Strong in the Wake of Turbulent 2022.
