Mass Crypto Adoption: Fiction or Reality?

By Verify Token (VRFY) | Crypto1Sense | 3 Apr 2022


Mass Crypto Adoption: Fiction or Reality?

Many people venture into crypto for one of two reasons: to find the next moonshot project that will make them a lot of money, or because they see blockchain technology and realize that it can have a significant impact on the global market. The question is, is crypto ever going to become mainstream?

According to a recent poll by NBC, “One in five Americans has invested in, traded or otherwise used cryptocurrency.”  This is a clear indication that crypto is gaining momentum in the US.

The poll shows several interesting statistics:

- Half of men between the ages of 18 and 49 said they have dabbled in crypto

- Forty percent of Black Americans said they have traded or used crypto 

- 42% all people between the ages of 18 and 34 years said the same

 

This is proof that the market is growing.  However, it also shows that approximately half of the country in these demographics are still luke-warm at best towards crypto.  Why?

 

Many people still have concerns about cryptocurrency, and rightfully so.  Cryptocurrency is confusing, even for people who have invested for a year or more.  Decentralized exchanges can be complicated and intimidating to use the first few times.  In addition, the mainstream media is always reporting on volatility and crypto crimes, as though crimes only occur in crypto—when the truth is that crypto-related crimes are simply a newer phenomenon and therefore perhaps more interesting to the average viewer.

 

All of which is to say: crypto is still young.  But according to NASDAQ, mainstream adoption is coming—but the timeline is tricky because of the many factors influencing the crypto market.  They cited recent studies that show “the rate at which adoption occurs grows very gradually until about 8-10%, then generally explodes upwards to mass adoption from there.”  The United States has not reached 10% yet, but it is growing close.  

 

It may be early, but all signs are pointing towards mass adoption.  As more countries continue to develop their own digital currencies, others will follow.

 

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Verify Token (VRFY)
Verify Token (VRFY)

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