Survey: Indians are more optimistic than Americans for a bright future of cryptocurrency

nRunaway Comment: Despite the government’s repeated emphasis on the risk of encrypting monetary investments, most Indians are optimistic about the future of cryptocurrencies. According to a survey conducted by Pundi X, a provider of cryptographic currency point-of-sale (POS) solutions with the NEM.io Foundation and Stellar.org, 68% of Indians believe most people will use cryptocurrencies over the next ten years Compared with just 45% of Americans opting for this option, followed by Indonesians and 74% of Indonesians believing the future of Bitcoin is bright. The survey, covering a total of 6 countries, covered the major cryptocurrency markets, as well as other crypto-currency related issues.n
nTranslation: Clovern
Despite the government’s repeated emphasis on the risk of encrypting monetary investments, the vast majority of Indians are optimistic about the future of cryptocurrencies. According to a survey covering 6 major markets covering a total of 6 countries, 7% of Americans admit that they own Bitcoin or cottagecoin. However, Indians are more optimistic – 68% think most people will use cryptocurrencies in the next ten years, compared to 45% for U.S. respondents and 47% for Russians. The Indonesians have the strongest faith in this regard, at a ratio of 74%, well above the average of 69%, which most Britons suspect (44%).n
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Encrypted currency investment takes priority over equity investmentn
For Indians, buying cryptocurrencies is more attractive than investing in stocks or bonds. Sixteen percent of participants in the study said they would choose to buy cryptocurrencies if they had $ 1,000. However, bank accounts are still the top choice – one in four respondents (24%) of the opportunities acknowledge that they will deposit their cash into the traditional financial system.n
The survey was conducted by Pundi X, a crypto-currency point-of-sale (POS) solution provider, in partnership with the NEM.io Foundation and Stellar.org using Opeepl Mobile’s Live Sampling technology. The Indonesian company has been preparing to enter the Indian market through its POS terminal network. According to local media reports, due to the government’s tough stance, refusing to recognize the cryptocurrencies as legal tender may force Pundi X to shelve its plan. Indians and businesses insist the government clearly deals with mining and tax-related guidelines.n
In spite of this, the potential of the Indian market is still endorsed by Pundi X management. Constantin Papadimitriou, the company’s president, told Quartz that one out of every 10 bitcoin transactions in the world takes place in India. Asked about “What do you know about cryptocurrencies,” while other cryptocurrencies have drawn so much attention in India, bitcoin is still 68% the most.n

A total of 3,000 people (including 500 Indians) from 6 countries answered these questions specifically designed to understand their attitude towards Bitcoin and Craziness. The Encrypted Currency Status Report examines the mainstream adoption and acceptance of digital currencies in India, Indonesia, Japan, Russia, the United Kingdom and the United States. The survey was conducted from December 21, 2017 to January 2, 2018 with respondents aged 18-59. The study revealed a reasonable interest in cryptocurrencies and also assessed related purchases.n
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Cryptocurrency demand is higher than cell phones and dronesn
The report compares a cryptocurrency purchase with other products that consumers may consider buying. The authors reported that survey participants were more likely to use the money to invest in cryptocurrencies (12%) than iPhone X (7%), VR headsets (1%), or UAVs %). The list of high-end dinner only get 3% choice. However, of the 6 countries surveyed, depositors are still preferred by 33%, but only 11% choose to buy stocks or bonds following the purchase of cryptocurrencies.n

The study clearly shows that people in different jurisdictions would want to invest in transactions (35%) in cryptocurrencies for purchases (35%) and third in value storage (27% ). As for spending on cryptocurrencies, the difference of 1% of the sales of goods and services (16%) fell after the payment of outstanding notes (17%). 13% of respondents will use local currency such as Bitcoin to encrypt money, while 10% will use encrypted currency for international transfers.n

The instability of bitcoin prices remains a major concern for most respondents, with “I do not know how to spend encrypted currency” as a reason. And for the “No reason to buy / hold Bitcoins or other cryptocurrencies”, the “This is illegal” option came in the last place. However, cryptocurrency owners often trade – with three out of four people performing at least two transactions in the past three months. Twenty-four percent prefer to buy a local online exchange when considering buying bitcoin or cottage. Nearly 60% of respondents considered cryptocurrencies as “digital currencies.”n

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