There has been a lot of conversation around cryptocurrencies over the past few years. As blockchain becomes an applicable technology in many industries, the cryptocurrencies around the industry are also becoming a talking point across the world.
The cryptocurrency industry has come a long way and there is an increase in the number of players in the industry. Many companies, some new and some already established, are developing cryptocurrencies and this has generated more interest in the industry as a whole. Facebook is one of the latest companies to venture into cryptocurrency, with their announcement of developing a cryptocurrency named Libra generating a lot of talk in the news and on social media.
There are many people who engage in cryptocurrency trading across the world. In a survey conducted near the end of 2018 by Kaspersky Lab, a cybersecurity firm based in Moscow, it was shown that 19% of people around the world have purchased cryptocurrency. The pool of respondents was made up of 13,434 people from 22 countries. It is from this pool that it was determined that about one fifth of the world’s population has bought a cryptocurrency.
The survey by Kaspersky Lab also shows other statistics around cryptocurrency trading and how people perceive the cryptocurrencies. 10% of respondents stated that they have a complete understanding of cryptocurrencies and how they work. This shows that there is an overall lack of understanding about how the currencies work and what they are. There is a need for more education about cryptocurrencies if more of the world’s population is to participate in cryptocurrency trading.
35% of participants revealed that they believe cryptocurrencies are a craze. Some of the reasons cited for this are the belief that cryptocurrencies are volatile and 22% of respondents said that they do not use cryptocurrencies because they are not backed by any real assets. These negative views of cryptocurrencies have been detrimental to the growth of crypto trading.
A positive sign for the trading cryptocurrency is that 14% of participants in the survey said that they would be interested in using cryptocurrencies in the future. Due to the increased positive perception of cryptocurrency and crypto trading, this number can be expected to grow over time. More people are likely to buy cryptocurrencies and engage in crypto trading over time. If education about what cryptocurrencies are and how they function becomes more widespread, it is likely to also influence more people to buy and make use of cryptocurrencies.
It can be safely said that cryptocurrencies are growing continually and more people will find their way into crypto trading. Despite some negative views surrounding cryptocurrency trading, the industry is growing and more people will get into crypto trading over the years.