fbpx
  • Price Tracker
  • Guest Post
  • Advertising & Partnership
  • Press Release
  • Editorial Policy
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Bitcoin Trusted Over Local Currency by Over 40% Globally – Study 

Bitcoin Trusted Over Local Currency by Over 40% Globally – Study 

Van Tran by Van Tran
July 1, 2022
in People
Bitcoin logo over Business people in the corporate staff meeting with digital envisional graphic.
Share on FacebookShare on Twitter

You might also like

Michael Saylor Contends that he Supports Bitcoin Self-Custody Amid Community Backlash

Economists Endorse Ethereum Founder Vitalik Buterin as Nobel Prize Contender

Elon Musk Wins Dogecoin Lawsuit: Judge Dismisses $258 Billion Case

A study by Premise, a crowdsourcing insight platform, has released findings on the perception of digital currencies and blockchain technology in the world today. Interestingly, the data established that many people trust Bitcoin (BTC) more than their local currencies. 

The study by Premise has been running from August 30 and included around 11,000 participants drawn from 76 countries. The data came from thousands of paid smartphone users through the Premise App. It was one of their fastest and biggest pollings. 

Premise through a press release revealed that 41% of the respondents find Bitcoin more trustworthy than their local currency, with 33% of the respondents believing Bitcoin is more secure due to the decentralised nature of blockchain technology. 

The study also highlighted the place of Bitcoin as a payment option. In the survey, 23% of respondents had received and cashed out BTC payments on the Premise platform with
46% paid in BTC converting to local currencies and 41% of them holding their Bitcoin. 13% said they use BTC as a medium of exchange for goods and services.

At the same time, more than 26% of the respondents prefer using Bitcoin over their local currency. This shows how digital currencies have gained acceptance while some economies have struggled to stay afloat.

What does the study tell us about the future of digital currencies?

The researchers while releasing the report mentioned that Bitcoin might have an upper hand due to the high number of unbanked people. However, it also shows just how much the world population is willing to embrace decentralised finance.

So far, Bitcoin has become an integral part of the world economy. Even though launched to be an alternative payment option to fiat currency, it now functions more like an asset. 

Bitcoin has become the new trading asset at a time when most traditional assets like gold have not been performing as well. Bitcoin, in turn, has been touted as the ideal replacement for gold as a hedge against inflation. Some countries are also looking to replace their US dollar reserves with Bitcoin.

The widespread use of Bitcoin also continues to grow with El Salvador becoming the first country to declare it as legal tender. Other countries like Pakistan and Qatar are also researching its viability as a national tender.

Institutional investors that were earlier skeptical about digital assets are now embracing them in droves. For example, one of the leading Australian superannuation trusts, Rest Super, is set to become the first Australian retirement fund to invest in cryptocurrencies. Other institutional investors are also willing to do the same.

Premise has promised to keep on running the study to determine the difference between fiat currencies and digital currencies. If the current trend is anything to go by then more people will be embracing digital currencies in the future. 

 

Van Tran

Van Tran


EDUCATION
Bachelor of Finance, University of Virginia
SUMARY Van Tran brings over a decade of experience in the financial services industry, with a specialisation in cryptocurrency. She used to serve as a Senior Crypto Writer at Coin68, where she managed ecosystem and trading guide columns and led the trading department. Her expertise includes trade review, compliance, suitability evaluation, and supervisory programs.
EXPERIENCE
Senior Crypto Writer, Coin68 (2020-2022) Managed ecosystem and trading guide columns. Led the trading department, overseeing trade review and compliance. Evaluated suitability and ensured compliance with education requirements. Implemented and supervised compliance programs for representatives.

Recommended For You

Michael Saylor Contends that he Supports Bitcoin Self-Custody Amid Community Backlash

by John Hobbs
October 25, 2024
0
Michael Saylor Contends that he Supports Bitcoin Self-Custody Amid Community Backlash

Michael Saylor, the co-founder of MicroStrategy, expressed his support for Bitcoin self-custody, calling it a fundamental right, following backlash from the crypto community over his recent comments on...

Read more

Economists Endorse Ethereum Founder Vitalik Buterin as Nobel Prize Contender

by John Hobbs
October 10, 2024
0
Economists Endorse Ethereum Founder Vitalik Buterin as Nobel Prize Contender

Two economists recently suggested that Ethereum co-founder Vitalik Buterin could be a candidate for the Nobel Prize in Economics due to his contributions to cryptocurrency. The comments were...

Read more

Elon Musk Wins Dogecoin Lawsuit: Judge Dismisses $258 Billion Case

by John Hobbs
August 31, 2024
0
Elon Musk Wins Dogecoin Lawsuit: Judge Dismisses $258 Billion Case

On Thursday, U.S. District Judge Alvin Hellerstein in Manhattan ruled in Musk's favour and ended claims against him and his company. Investors' Claims Rejected The lawsuit, revised four...

Read more

Kamala Harris Advocates for Crypto Industry Growth with Focus on Consumer Protection

by John Hobbs
August 22, 2024
0
Kamala Harris Advocates for Crypto Industry Growth with Focus on Consumer Protection

Vice President Kamala Harris is planning to support policies that promote growth in the crypto and digital asset sectors while ensuring consumer protection, according to a Bloomberg report...

Read more

Justin Sun Calls on China for Bitcoin Policy Reforms Amid US Crypto Strategy Developments

by Lucas N
July 30, 2024
0
Justin Sun Calls on China for Bitcoin Policy Reforms Amid US Crypto Strategy Developments

Justin Sun, the founder of the Tron blockchain, has encouraged China to adopt a more progressive stance on cryptocurrency policy. His call comes as former US President Donald...

Read more
Next Post
Cardano Ada cryptocurrency coin close-up, in front of a price chart

Wallets staking ADA crosses 1 million

Please login to join discussion

Most popular

  • Why Brands Should Adopt A ‘Hybrid DAO’ Model

    Why Brands Should Adopt A ‘Hybrid DAO’ Model

    169 shares
    Share 68 Tweet 42
  • Cryptocurrency Regulations in Australia: A Brief Overview 2024

    163 shares
    Share 65 Tweet 41
  • Guide To Crypto Twitter: Influencers, Traders And Ventures 2024

    1202 shares
    Share 480 Tweet 300
  • Kucoin Review 2024: Features, Fees & More

    146 shares
    Share 58 Tweet 37
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2024

    422 shares
    Share 169 Tweet 106

Recommended

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

November 9, 2024
Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

November 8, 2024
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory – What will the US Crypto be?

November 6, 2024
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

November 5, 2024
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Altcoin News Bitcoin CoinSpot Cryptocurrencies Crypto Exchange Crypto Tax DeFi Dogecoin Dogecoin News ETF Ethereum Feature FED FTX Games hacks Layer2 Markets meme Metaverse Mining NFT Opinion People Policy and Regulation Polygon SEC Security Solana News Stablecoins Tech Top Crypto News Australia | CoinCulture Trading US web3 XRP News

RECENT POSTS

  • Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push
  • Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency
  • Trump Declares Victory – What will the US Crypto be?

© 2023 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$103,023.004.18%
    BITCOIN
    24H : 4.18%
    Volume : $47,627,042,805.00
    Marketcap : $2,046,111,294,193.00
  • ethereumEthereum(ETH)$2,245.8217.84%
    ETHEREUM
    24H : 17.84%
    Volume : $37,912,974,997.00
    Marketcap : $271,005,528,374.00
  • tetherTether(USDT)$1.000-0.02%
    TETHER
    24H : -0.02%
    Volume : $81,015,291,121.00
    Marketcap : $149,708,394,092.00
  • rippleXRP(XRP)$2.316.14%
    XRP
    24H : 6.14%
    Volume : $4,901,384,119.00
    Marketcap : $134,970,272,784.00
  • binancecoinBNB(BNB)$629.763.08%
    BNB
    24H : 3.08%
    Volume : $1,306,479,516.00
    Marketcap : $91,868,685,756.00
  • solanaSolana(SOL)$163.388.66%
    SOLANA
    24H : 8.66%
    Volume : $7,176,987,064.00
    Marketcap : $84,744,098,703.00
  • usd-coinUSDC(USDC)$1.0000.00%
    USDC
    24H : 0.00%
    Volume : $40,148,223,539.00
    Marketcap : $60,723,680,326.00
  • dogecoinDogecoin(DOGE)$0.1968.86%
    DOGECOIN
    24H : 8.86%
    Volume : $2,212,605,182.00
    Marketcap : $29,265,326,520.00
  • cardanoCardano(ADA)$0.7688.85%
    CARDANO
    24H : 8.85%
    Volume : $1,420,446,328.00
    Marketcap : $27,694,216,021.00
  • tronTRON(TRX)$0.2552.04%
    TRON
    24H : 2.04%
    Volume : $951,008,175.00
    Marketcap : $24,201,944,829.00

Add New Playlist

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki

© 2023 CoinCulture. All rights reserved.