Crypto users have received a Global report from Binance

Binance revealed in its report about a survey on Crypto Users, around the globe
  • Recent reports from Binance shows that around 61,000 users of cryptocurrency across the globe have taken part in the survey
  • The report revealed that 38% of the surveyed users owned cryptocurrencies and 55% had invested their assets for longer terms
  • We could also conclude from the report that DeFi is very gradually gaining a huge pace in the world of finance

Binance is closely looking into the motivation, preferences, behaviors, and investors of crypto all over the globe.

The Index Report of Global Crypto Users, 2021, has been published on the global crypto exchange. In the report they examined all the data from around 61,000 cryptocurrency users across over 178 countries and different regions and the respondents attitudes, adoptions, ideology, financial involvements and demographics have been explored too. 

The study report of Binance has revealed over 55% of the assets of cryptocurrency are for long term investments. The remaining 38% have owned cryptocurrencies because they totally do not trust the present financial market and the system. And short term trading participants amount to a total of 31% in the cryptocurrency markets. 

Survey Reports by Binance

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According to the surveys made, around 52% of the daily crypto users have considered their investment in this sector as a very prominent income source. Another valuable data in the report reveals that 97% of crypto users have complete confidence in the cryptocurrencies, among which Bitcoin remains very popular and is owned by a total number of 65% of the surveyed customers.

Another 15% users who have invested in the trading of cryptocurrencies, cite it as a major source of primary income for them. Then comes the question: how do these users actually use their owned sum of crypto assets? Well, surprisingly a whole lot of 39% of the owners just hold their assets of cryptocurrencies and around 22% of the users actually invest their tokens in lending and staking their assets and 11% use it for making payment exchanges. 

Other Uses of the assets as per the Reports

As per data around 60% users store all their tokens during a crypto exchange and around 63% just bank on their owned incomes that are very much disposable. That makes exchanges become a much more popular house to store all the crypto units. The report from Binance has revealed the increasing acceptance of the services in the newly formed DeFi spaces. DeFi applications are claimed to be used by around 66% of the surveyed users and therefore we can see DeFi gaining its pace in the financial world  markets. Banking on the freedom of using money, it has been noticed highly that the institutional investors which are of much smaller scale believe a lot more on the cryptocurrency exchanges. The survey responses were collected based on proper regions and locations in the markets. Out of the responses and data sets we can see that there still exists a lack of a more crisp frame of sample in the ecosystem of cryptocurrencies.

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Andrew Smith
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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