According to research by a financial technology site, confidence in Bitcoin has outpassed confidence in the big banks. The research results also showed how people look at bitcoin’s future.
According to a new study by financial technology news site The Tokenist, people rely more on Bitcointhan the big banks. According to the study, which involved 4,852 people from 17 countries, 47% of respondents relied more on Bitcoin than the big banks. Moreover, this trust has seen a 29% increase in the past three years.
The research by The Tokenist also revealed differences of thought between generations in bitcoin and the big bank comparison. Younger generation trusts Bitcoin more than banks.
Generation Y and Bitcoin:
According to the study, more than half of generation Y (51%) rely more on Bitcoin. The increase in the number of people relying on compared to 2017 is 24%. According to the study, more than 9 out of 10 (93%) of participants over the age of 65 relied more on the big banks.
Participation over the age of 65 is wary of Bitcoin, and half of them think Bitcoin is a’bubble’ that will explode. If it’s generation Y, it’s at 24%. Generation Y’s interest in Bitcoin is growing, and 44% of that generation is considering buying Bitcoin in the next five years.
According to the study, more than half (59%) of generation Y think Bitcoin will be largely adopted over the next 10 years, and the vast majority of people around the world will use it. In addition to generation Y, information about Bitcoin and confidence in Bitcoin appear to be increasing among all age and gender groups.
According to the research results, 60% of respondents think Bitcoin is a positive innovation in the field of financial technology. In addition, 45% of respondents prefer Bitcoin to shares, real estate and gold. Some Bitcoin fans argue that shares were hit during the coronavirus outbreak and quarantine period, which is a very convenient moment for cryptocurrencies.