Bitcoin

80% of Colombians Open to Investing in Crypto: New Survey

single-image

bitbond bitcoin lending

An astounding 86.5% of Colombians are familiar with cryptocurrency and 80% are open to investing in the asset class.

Peer-to-peer Bitcoin (BTC) marketplace Paxful shared the results of its new survey — conducted together with Toluna Insights — with Cointelegraph on Aug. 15.

50% of Young Colombians Already Crypto Investors

The survey further revealed that at least 50% of respondents between the ages of 25 and 40 have already invested or expressed interest in buying cryptocurrencies such as Bitcoin (79%), Bytecoin (>5%) or Ether (ETH) (<3%). 

Just over 32% of all those surveyed had already carried out transactions using cryptocurrencies. 

Almost 59% said they that cryptocurrency adoption would continue to grow. In its analysis of the results, Paxful noted that:

“The increased use of digital currencies is likely linked to a hyperconnected generation constantly on the lookout for options that not only allow them to have 24/7 access to their financial assets but also give them the freedom to make online global transactions in a simple way.”

Close to 86% said they believed crypto-specific regulation would be necessary in Colombia. Meanwhile, a whopping 91% of those surveyed agreed with the idea that cryptocurrencies will mark the future of world trade.

Notwithstanding these impressive and positive results, just under 20% of respondents said they would currently use cryptocurrencies as a financial alternative. 

In light of the protracted political turmoil in neighbouring Venezuela, Colombia has this summer reported an uptick in migration. Notably, trading volume on LocalBitcoins in both countries has continued to see an upward trend in recent months.

Surveying the field

As reported, a spring 2019 survey revealed that 11% of the American population owns Bitcoin, indicating that Bitcoin ownership is a “demographic mega-trend” led by the younger generation in the 18-34 year age range. Nonetheless, 89% of United States citizens had heard of the cryptocurrency, regardless of their generation.

A more recent survey this summer — again focused on the U.S. — suggested that cryptocurrencies are three times more popular among American millennials as a long-term investment as they are for Generation X.

In June, a survey of a total of 13,434 respondents in 22 countries indicated that 19% of people worldwide have purchased cryptocurrencies, with only 10% saying they did not fully understand how cryptocurrencies work.





Source

Leave a Reply

avatar
  Subscribe  
Notify of

You may also like

Blockchain

UK-Based Digital Exchange to Use R3’s Corda for Post-Trade Processes

single-image

bitbond bitcoin lending

Archax, a London-based digital securities exchange, will use blockchain software firm R3’s Corda technology to manage post-trade activities.

On Oct. 18, Archax announced in a press release that its post-trade processes will now run on distributed ledger technology. Archax will use a private version of Corda Enterprise within its own ecosystem.

Graham Rodford, CEO of Archax, said that current post-trade processes in traditional financial markets involve many intermediaries, making them highly inefficient. Rodford said that using blockchain technology will make markets more efficient.

Post-trade processes occur after a trade is complete, wherein a buyer and seller of a security approve the transaction, provide trade details, amend ownership records, and transfer the securities and cash. 

Industry’s heightened interest in Corda tech

In recent months, financial institutions around the world have expressed interest in Corda technology. 28 organizations including…


View More Article
Bitcoin

Bitcoin a ‘Gift’ That Will Change Humanity

single-image

bitbond bitcoin lending

Computer scientist and general manager of WeWork South Africa, Stafford Masie, has said that Bitcoin (BTC) will change the future of humanity more than any other technological innovation. 

In a keynote delivered at the SingularityU South Africa Summit on Oct. 16, Masie — formerly the CEO of Google Africa — said that Bitcoin’s provision of an exchange of value without intermediaries is the greatest gift mankind has ever received technologically.

Revolutionary for global trade

Masie argued that while the crypto wallet is “misunderstood, misused, misrepresented and viewed as complicated,” it will revolutionize global trade. Its main potential, he continued, is not for developed and already highly digitized economies, nor for cash-dominated informal economies, but for what he dubbed “third economies” in which barter systems still prevail:

“The third economy is an economy where people don’t have access to electronic forms of distributing value or cash […] Think of…


View More Article
Ethereum

Crypto Firms Join Azure as Microsoft Fights Amazon for Market Share

single-image

bitbond bitcoin lending

Thanks to the high computational flexibility that it offers, the influence of cloud computing on the blockchain space continues to grow. It’s less of a surprise, then, that cloud computing giants — such as Amazon, Microsoft, Oracle and Google’s parent company Alphabet — are leading the charge to merge blockchain, especially the enterprise type, and the cloud.

Microsoft in particular has been actively engaging with blockchain startups that are developing blockchain solutions for the enterprise market, working with them to deploy their solutions on the Microsoft Azure cloud infrastructure.

The company’s aggressive approach to bolstering the blockchain functionalities of Azure could be a move to take the lead in the blockchain cloud market, which should expand as the underlying blockchain industry continues to grow. Microsoft Azure is currently behind the cloud market leader, Amazon Web Services, by a wide margin. Amazon…

View More Article
Blockchain

Blizzard Bans Hearthstone Player, Blockchain Comes to Rescue

single-image

bitbond bitcoin lending

The gaming world burst into an outrage as a result of Blizzard’s move to expel a leading professional gamer from Hong Kong, Chung Ng Wai (aka Blitzchung), from its international Hearthstone esports tournament. Hearthstone is an online game featuring collectible cards that give players certain characters and abilities for an edge against their opponents.  

It was not long until Gods Unchained, a rival blockchain-based game, claimed it will give back Blitzchung all his rescinded winnings and welcome him into their tournaments. 

Blitzchung was removed from the Hearthstone Grandmaster tournament he had just won as soon as he said: “Liberate Honk Kong, the revolution of our time” in an interview. In a display of solidarity with the Hong Kong protestors, the 21-year-old gamer wore a gas mask (frequently donned by the protestors) right before…

View More Article
Bitcoin

Fake Tor Browser Steals Bitcoin From Darknet Users, Warns ESET

single-image

bitbond bitcoin lending

Major antivirus software supplier ESET has discovered a trojanized Tor Browser designed to steal Bitcoin (BTC) from buyers in the darknet.

Fake browser distributed via 2 websites

Targeting users in Russia, the fake Tor Browser was distributed via two websites and has been stealing crypto from darknet shoppers by swapping the original crypto addresses since 2017, ESET’s editorial division WeLiveSecurity reported Oct. 18.

Created back in 2014, the two fake Tor Browser websites — tor-browser[.]org and torproect[.]org — are mimicking the real website of the anonymous browser, torproject.org. 

According to the Slovakian software security firm, these websites display a message that users have an outdated version of Tor Browser even if they have the most up-to-date Tor Browser version, offering to download the fake version containing malware.

Over $40,000 stolen in Bitcoin

According to the firm, the newly discovered malware has been distributed for…


View More Article
Blockchain

What Does Skepticism for Libra Say About Bitcoin?

single-image

bitbond bitcoin lending

Facebook’s dream of being a cryptocurrency giant is seemingly becoming more distant by the day, as increasing regulatory uncertainty continues to jeopardize the company’s Libra project. While Libra has been surrounded by anything but good news even before its launch, crypto watchers should ask themselves, Does Bitcoin need Libra to thrive at all? A crypto world without Libra — is that a good thing or not? What would a no-Libra crypto world be like, and how would that impact Bitcoin?

Scrutiny

Despite its innovative approach and its ambition as a global currency, Facebook’s Libra seems to remain an unwelcome presence in the world of traditional finance, especially from a regulatory perspective. Just recently, a G-7 report warned that a global cryptocurrency like Libra could pose a risk to the global financial system. The report highlighted Anti-Money Laundering (AML)…


View More Article
Bitcoin

ACINQ Unveils Its ‘2nd Generation’ Bitcoin Lightning Network Wallet

single-image

bitbond bitcoin lending

French Bitcoin (BTC) Lightning Network (LN) implementation developer ACINQ introduced its second-generation Lightning Network wallet, Phoenix, via Twitter, on Oct. 18. A video accompanying the post demonstrates a number of wallet functions, all accessed via a user-friendly interface.

From setup to receiving and making payments in under a minute

From a fresh install of the wallet app on an Android device, setting up a new wallet is a single click away. Although the new wallet has no open channels, it can still produce an LN invoice and receive funds.

On receipt of an incoming transaction, the app offers to set up a payment channel on-the-fly for a set fee. The user can either accept the fee, avoiding incoming liquidity issues completely or refuse the payment.

Once the wallet is funded, Lightning Network payments can be made by scanning QR invoices and pressing…


View More Article
Ethereum

Crypto Market Hardly Needs a Bitcoin ETF at This Time, Says BKCM CEO

single-image

bitbond bitcoin lending

Founder and CEO of crypto investment firm BKCM Brian Kelly has said that Bitcoin (BTC) exchange-traded funds (ETF) are hardly needed for the ecosystem’s development, given that the coin is already available on regulated platforms such as Fidelity and TD Ameritrade.

Kelly made his remarks during an interview with CNBC published on Oct. 11, explaining: 

“You have companies like Fidelity and TD Ameritrade starting to push into this space. So ultimately you’re going to be able to buy Bitcoin in a regular brokerage account, or it’s going to look like a regular brokerage account. So I’m less concerned that you need a bitcoin ETF at this point in time.”

He also pointed out that the United States Commodity Futures Trading Commission’s (CFTC) decision to define Ethereum as a commodity made a significant impact on the space, adding:

“The CFTC saying that Ethereum…


View More Article