Cryptocurrencies would be adopted by our community in the near future, various studies reveal.
Apr 15, 2018 Posted / 1022 Views
The popularity of cryptocurrency is reaching out to more people day by day. This is very evident from the facts and figures that have been collected by various organizations.
In the United Kingdom alone a survey was conducted for more than thousand people show that everyone in five-person who never owned a cryptocurrency was willing to buy cryptocurrencies within the next 3 years. Ananda survey was conducted by an organization named Citigate Dewe Rogerson which also witnessed the People's keen interest in cryptocurrency to purchase them; also it was relatable to the fluctuations in the market trends.
In spite of the popularity of the cryptocurrencies, its constant news in the mainstream media, as well as the social media, have created a cynical mindset among the people who are his hesitating to opt for cryptocurrencies. The various reasons also seem to be its volatility, risk, and the lack of knowledge about the Crypto world.
Among the people who were not having an optimistic view about the cryptocurrencies. The reasons were found that about 67% of them believed that the Crypto market where risky and very volatile. 43% of them were thinking about the regulations in future. Whereas 61% of the people thought that they didn't have much knowledge about the cryptocurrencies.
In another similar survey conducted on 30 financial professionals of which 25% believed that the cryptocurrencies would be regulated on a large scale and would be happening shortly, a study by Citigate Dewe Rogerson stated.
Bitcoin news has also reported recently that the UK financial commission authority (FCA) along with the United kingdom's treasury to put forth cryptocurrency discussion paper for the regulation of it. The paper will mainly be featuring on the practices of businesses and urge of bringing new businesses from the continent of Europe. A BitcoinNews study reveals.
Small Enterprises with bullish views.
The United Kingdom has become quite popular these days due to the surge in the number of users and merchants using the cryptocurrencies for their transactions.
Another national study performed by the Paymentsense shows the growth of the Crypto world shortly as one-third of 504 small sized companies believed that they would become the mainstream market within a short span of 2 years.
Head of marketing wing at Paymentsense Gud Moreve said: “It’s clear that cryptocurrencies are moving swiftly towards the mainstream. However, small business owners considering cryptocurrency as a payment option should be clear about how they can integrate it with their existing financial arrangements. Will suppliers or staff accept it? Can they pay local and national government agencies with it?”
The analysis also found that 13% of them already accepted cryptocurrencies and 25% of them when skeptical enough to stay away from it thought they would not go too far.
Moreover also added that “Also, the value of unregulated cryptocurrency changes fast. This has significant implications for an SME’s revenue security. Using a trusted payment processor or merchant service provider can help guard against this by allowing a swift currency exchange, and improve security processes.”
Will the Financial Commission Authority of UK be able to impose regulations on the Crypto world? While some of the countries have completely adopted the cryptocurrencies some of them are still in the process of accepting them.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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