A recent survey indicates that a significant majority of European residents harbour positive sentiments and confidence regarding the future trajectory of the cryptocurrency sector.
Conducted by Binance across France, Italy, Spain, and Sweden, the survey gathered responses from 10,498 individuals between October 14 and November 8, 2023. The findings underscore a prevailing trend of optimism, marked by heightened engagement with digital assets, expanding adoption rates, bolstered trust, and broadening utility.
Of the respondents, approximately 73% conveyed optimism concerning the future of cryptocurrencies, indicative of a prevailing belief in the sector’s potential growth and technological advancement. Notably, 55% of participants reported exclusive interaction with digital assets, underscoring a robust confidence in their long-term viability. Moreover, a noteworthy 24% disclosed that over half of their trading activities involve cryptocurrencies.
Regarding the primary use cases for digital assets, 34% cited long-term trading, 26% mentioned saving, 13% engaged in day trading, and 9% utilised cryptocurrencies for purchases. Additionally, 55% of respondents reported using digital currencies for everyday transactions, with 10% making such transactions on a weekly basis.
The survey revealed that a significant portion of respondents—82%—have been involved in cryptocurrency for at least a year, with 73% maintaining active participation over the past five years and 9% indicating involvement for more than five years. Conversely, only 5% entered the crypto space within the last six months.
Moreover, 53% of respondents identified as active traders, primarily engaging in monthly trading activities. In terms of storage preferences, approximately 65% favoured centralised exchange wallets, while 18% opted for hardware wallets.
Rachel Conlan, Binance’s Chief Marketing Officer, commented on the findings, noting that the increasing use of cryptocurrencies for everyday purchases and their diverse applications underscore the integration of digital assets into daily life. Conlan also highlighted Europe’s proactive efforts in implementing a secure and cohesive regulatory framework for the cryptocurrency industry through initiatives like MiCA, signalling the region’s commitment to fostering mainstream adoption of digital assets.