{"id":80429,"date":"2018-09-02T05:00:10","date_gmt":"2018-09-02T12:00:10","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=80429"},"modified":"2019-11-07T02:33:13","modified_gmt":"2019-11-07T02:33:13","slug":"cryptocurrency-adoption-accelerates-litecoin-creator-calls-for-end-to-fiat","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cryptocurrency-adoption-accelerates-litecoin-creator-calls-for-end-to-fiat\/","title":{"rendered":"Cryptocurrency Adoption Accelerates, Litecoin Creator Calls for End to Fiat"},"content":{"rendered":"

The cryptocurrency market may have experienced a flat run over the course of 2018 thus far with Bitcoin<\/a> prices failing to break through the $10,000 barrier since early March, but new research published by ING demonstrates that adoption rates are rising rapidly.<\/p>\n

The ING International Survey on Mobile Banking: Cracking the code on cryptocurrency report, published<\/a> in June 2018, surveyed 14,828 respondents across 15 different countries, assessing public sentiment regarding cryptocurrencies as a payment method, investing in cryptocurrencies, and their current participation in the cryptocurrency market.<\/p>\n

The data captured by ING in the survey demonstrates a significant rise in cryptocurrency adoption \u2014 66 percent of all respondents had heard of cryptocurrencies, with 35 percent agreeing that cryptocurrencies represent the future of online spending.<\/p>\n

The cryptocurrency ownership rates demonstrated by the report, however, are arguably the most interesting result of the study \u2014 9 percent of all respondents stated that they currently own cryptocurrencies, with 25 percent stating that they intend to purchase cryptocurrency in the future.<\/p>\n

Crypto Capitalizes on Lack of Trust in Central Banks<\/h2>\n

ING\u2019s cryptocurrency-oriented survey quizzed respondents on a variety of crypto topics, assessing cryptocurrency awareness and ownership. Data published in ING\u2019s report reveals that the majority of people in 11 of 13 European countries are aware of cryptocurrencies, with Australia leading the way at 79 percent crypto awareness, followed by Poland at 77 percent.<\/p>\n

\"Bank
Related:\u00a0Bank of America Files for Cryptocurrency Storage Patent<\/a><\/figcaption><\/figure>\n

Interestingly, men are more likely to be aware of cryptocurrencies than women, but age is not a strong indicator of cryptocurrency awareness. ING\u2019s survey reveals that while individuals aged between 25 and 44 are marginally more likely to have heard of cryptocurrency, over 60 percent of respondents over the age of 65 in Europe maintain an awareness of cryptocurrencies.<\/p>\n

Cryptocurrency ownership, however, appears to be directly linked to a distrust of incumbent financial systems. Turkey and Romania boast the highest percentage of cryptocurrency owners, with 18 percent and 12 percent respectively.<\/p>\n

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For all the people that think crypto had it\u2019s hype. Mass adoption still to come! pic.twitter.com\/IItMrPs7TI<\/a><\/p>\n

— \u20bf Didi Taihuttu \u20bf (@Diditaihuttu) August 29, 2018<\/a><\/p><\/blockquote>\n