Skrill publishes research about the rising popularity of crypto
Among many reasons that are making the crypto trading market more popular is the performance that the majority of cryptos had at the beginning of 2021.
Skrill recently published the results of a consumer survey, which was aimed at uncovering the trends in the popularity of the crypto market around the world. The survey was carried out between March and April of 2021, in countries like the USA, UK, Canada, Germany, Austria, Bulgaria, and Italy. The survey focused on different cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash, etc.
Skrill is a digital payments brand that is part of Paysafe. The main aim of its survey was to determine how the popularity of the crypto market is increasing around the world and what are the most popular cryptocurrencies. The survey showed that four out of ten customers of the company have at some point invested in the crypto market.
According to the findings of the survey, 38 percent of the people said that they have either invested or bought a cryptocurrency, 84 percent of the people said that they have at least heard about cryptocurrencies, while 64 percent of the participants knew Bitcoin.
The survey shows that 20 percent of people owned Bitcoin either now or in the past. The highest ownership numbers were in the USA and Bulgaria, 24% and 36% respectively. The report also focuses on other cryptos, such as Bitcoin Cash and Ethereum.
According to the survey, out of the people who participated, 31% knew about Bitcoin Cash, while only 22% knew Ethereum, and 19% about Litecoin. When it comes to owning altcoins, the trend is very similar. About 9 percent of customers said that they own Bitcoin Cash, 8 percent say that they own Ethereum, and 7 percent – Litecoin.
As for other cryptos, such as Ethereum Classic, Dash, and others, that were recognized by about 10 percent of respondents, however, the ownership was 5% or less.
Crypto popularity increases
The survey conducted by Skrill once again shows that crypto popularity is increasing around the world. There are more people than ever before who know about cryptocurrencies and who own them.
The survey was conducted in numerous countries around the world and shows that cryptos are not only popular in the USA, but in other parts of the world as well. In fact, as the data showed, the most popular place for Bitcoin ownership was Bulgaria.
Although Bitcoin is the most popular crypto according to the survey, we can also notice a very positive trend. The survey shows how much the popularity of other cryptocurrencies is increasing, which is creating ground for further diversification of the market.
Why is crypto trading becoming popular?
There are many things causing the increasing popularity of crypto trading. One of the biggest reasons for this might be the recent boom. 2021 was very successful for the majority of cryptocurrencies.
Bitcoin saw over 30 percent increase in price, while Ethereum was up almost 260 percent. Even cryptos that were initiated as a joke are becoming popular among traders. For example, the price of Dogecoin increased more than any of the cryptos in the market in 2021, by almost 8000 percent.
One of the main reasons why people are becoming so actively invested in the crypto trading market is that it is becoming a lot easier day by day. This is thanks to numerous different tools created for traders to better analyze the changes in the market and find connections between events around the world and the possible impact of those events on crypto prices.
Automated trading & trading bots
Automated trading has become very popular recently, as it gives traders the ability to invest in cryptos without the need for extensive research on their own. Leading software companies are developing special programs for traders that support their trading ventures.
These tools not only analyze the market on your behalf but are also capable of opening and closing positions on their own. For instance, the Bitsgap Bot for crypto trading automatically sets buy and sell orders when the best opportunities arise in the market. Bistgap is one of the most reputable companies in the market, which has partnered with leading crypto exchanges.
Thanks to the trading tools like Bitsgap Bot, crypto trading is becoming a lot easier for everyone. Tools like this one ensure that traders don’t miss out on the best conditions in the market and take advantage of the movements when necessary.
Crypto market boom
Among many reasons that are making the crypto trading market more popular is the performance that the majority of cryptos had at the beginning of 2021. The prices of cryptocurrencies have rallied at the beginning of the year, which has made it more popular than ever before.
Increases in crypto prices have made huge headlines throughout the year, which has attracted even more people to the market. A great thing is that the crypto market is developing very fast.
The recent results of the research done by Skrill were largely influenced by these factors. The research shows that crypto is no longer a niche phenomenon and it slowly becomes more mainstream.