According to a survey carried out by StarkWare, 53% of American participants believe that cryptocurrency is the future of finance. 17% of respondents said that they have invested in cryptocurrencies.
The 25 to 34-year-olds were very convinced of this prospect, with 68%. In the 35 to 44 age group, 61% shared the same view. The percentage increases to 28% among those aged 25 to 34.
Future of Finance: Young Americans’ Views on Crypto
StarkWare, the company that specialises in STARK-based solutions for the blockchain sector, has recently surveyed 2,000 American citizens of various ages to understand their perspectives on cryptocurrency and its future development. According to the findings, 53% believe digital asset reflects the “future of finance.”
The figure is 68% among those aged 25 to 34 and 61% in the 35 to 44 age group, indicating that younger generations are much more discerning towards the crypto world than older generations.
Additionally, 17% of respondents said they have invested in cryptocurrencies, most of whom continually check and modify their holdings. 82% reported having at least one crypto tracker on their phone, while 50% admitted to regularly fiddling with or amending their assets. Only 14% of investors did not make any changes throughout a single week.
The results of the survey conducted by StarkWare. Source: PRNewsfoto/StarkWare
Eli Ben-Sasson, co-founder and president of StarkWare Industries, commented that the survey demonstrates how prevalent cryptocurrency has grown while also predicting that crypto is set to skyrocket due to the strong enthusiasm of young adults. Young Americans, the generation eventually shaping the economy, are particularly drawn to cryptocurrency, investing in large numbers and believing that crypto will be “the future.”
StarkWare commissioned the survey to publicise the upcoming launch of the StarkNet platform. They claim that it is critical to integrate crypto into the general public’s daily lives. Until recently, the rollout of crypto applications has been delayed due to a problem with the blockchain’s bandwidth. With that in mind, StarkNet is introduced to help developers build blockchain applications, making crypto apps ‘as widespread as smartphone apps’.
Uri Kolodny, Co-Founder and CEO of StarkWare, said that the survey findings are both fascinating and worrisome. They highlight the widespread fever for cryptocurrency and demonstrate how the blockchain is “creaking under the weight of current usage”. He concluded that the blockchain simply wouldn’t be able to cope with surging demand if people in the industry did not start to work smarter.
Most Americans Are Informed of The Cryptoverse
The U.S. is unquestionably among the major players in the cryptoverse, with the majority of its citizens having heard at least a bit about digital assets. Another study (conducted in November 2021) found that 62% of 10,000 respondents had a working understanding of the matter, while 24% had extensive knowledge of the sector. Only 13% reported that they had never heard of bitcoin, ether, or any other cryptocurrency.
Additionally, the survey threw light on the percentage of genuine cryptocurrency investors at the time, which stood at 16%. Men aged 18 to 29 are the sector’s most engaged demographic, with 43% having invested, traded, or utilised digital assets.