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Binance Survey: 73% of European Users Optimistic About Crypto’s Future

Binance Survey: 73% of European Users Optimistic About Crypto's Future

A new Binance survey has found that 73% of European respondents are optimistic about the future of crypto, with 55% exclusively using cryptocurrencies for everyday purchases. “We are delighted to see the high level of optimism amongst European crypto users, reflecting the growing interest in crypto and blockchain technologies,” said Binance’s CMO.

Europe ‘Actively Paving the Way for Mainstream Adoption of Digital Assets’

Cryptocurrency exchange Binance recently surveyed its European users in France, Spain, Italy, and Sweden to understand their crypto investing habits. The survey was conducted between Oct. 14 and Nov. 8, 2023, with 10,498 participants. The results were released on Jan. 24.

According to the results, 73% of respondents are optimistic about the future of cryptocurrency, with 55% exclusively using cryptocurrencies for everyday purchases and 24% making over half their trades in crypto. Beyond everyday spending, the survey reveals diverse crypto uses: 34% for long-term trading, 26% for saving, 13% for day trading, and 9% for routine purchases.

Rachel Conlan, CMO of Binance, commented:

We are delighted to see the high level of optimism amongst European crypto users, reflecting the growing interest in crypto and blockchain technologies.

“The growing use of crypto in everyday purchases and its diverse applications highlights the integration of digital assets into our lives,” she continued. “With Europe at the forefront of implementing a secure and harmonized regulatory framework for the industry through MiCA, it’s evident that the region is actively paving the way for the mainstream adoption of digital assets.”

Among survey respondents, 82% have been involved in crypto for at least a year, with 73% in the one to five-year range and 5% entering the space in the last six months. Moreover, over half (53%) are active traders, employing diverse frequencies, from monthly (23%) to weekly (17%) and daily (12%).

Regarding the key drivers for crypto adoption, 20% of respondents cited the potential for high returns as the key driver, 18% emphasized the ideals of decentralization and financial autonomy, and 17% indicated that they are motivated by innovation and technology.

What do you think about this Binance survey of European users? Let us know in the comments section below.

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