The Dutch banking group ING reported that the cryptocurrency sector will record a double number of interested individuals, according to the company’s latest research.
The company’s conclusions were taken over from “Cracking the Code on Cryptocurrency” – the sixth annual ING International Survey Mobil Banking. The research is based on the responses of approximately 15,000 individuals from 13 European countries, the United States and Australia.
During the data analysis, it was clear that interest in the crypto sector will grow with fast steps, perhaps “more than double“. “Sixty-six per cent of people in Europe say they have heard of cryptocurrency. Fewer than one in 10 (9%) own it. An additional 16 per cent say they expect to own it in future, which suggests uptake could more than double. Considering a third of those in Europe (34%) have not yet heard of cryptocurrency the growth potential could be even higher,” reported ING.
35% of European citizens surveyed believe Bitcoin will become the future of online payments
According to the data gathered, around 35% of European citizens surveyed believe that cryptocurrency such as Bitcoin will become the future of the international economy. The data are encouraging because it is, without doubt, a visible increase of the interest in this sector compared to last year. It has also been identified that 30% of European citizens would use cryptocurrencies for online purchases.
About half of surveyed individuals expressed their admiration for the crypto sector, saying they would change the way how are using the online environment. It was amazing that 15% of Europeans surveyed said they would like to be paid in Bitcoin or altcoins.
The interest in cryptocurrency will grow fast
Jessica Exton, ING’s survey led and expert in behavioral science concluded by saying that interest in the crypto sector will grow rapidly over time. “Cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest. Based on our survey, ownership of cryptocurrencies could more than double in the future – although we do not know when.”
Bearing in mind that cryptocurrency is a widely discussed topic, Jonas Goltermann, developed markets economist at ING, said that the more grows the interest, the more grows the concerns of the financial institutions. He said:
“[Cryptocurrencies’] impact on the global economy is still pretty limited and, at least from a monetary policy and financial stability perspective, central banks appear more curious than concerned about the growth of cryptocurrencies. The results from our survey suggest this could change, as many savers appear willing to consider crypto investments. If that were to happen, we’d expect policy-makers to take a more active interest in these instruments and how they affect the rest of the economy.”