As a blockchain development team, we try to keep abreast not only of tech developments, but also social perceptions. Today, we are going to post our findings about how ordinary people perceive crypto assets. We treat such figures and surveys with importance, as people’s behaviour is determined by their beliefs. That is why each web3 crypto development company needs to know what potential customers think to believe really popular and sought-after solutions.
Volume of transactions
Last year, crypto owners were using their crypto coins more frequently than ever to pay for goods and services. For instance, the crypto experts working for Chainalysis stress that the total volume of transactions grew by 567% (compared to 2020) and hit $15.8 trillion, across each and every crypto asset tracked.
One more far-reaching trend can be identified: BTC is no more an indisputable leader of the crypto domain. Among other things, BitPay reminds us of the fact that, in 2021, the merchant usage of BTC accounted to roughly ‘65% of processed payments, down from 92% in 2020’.
Other popular assets conclude:
- ETH – 15%
- Stablecoins – 13%
- Doge, Shiba together with Litecoin — 3%
This trend crearly indicates the growing popularity of crypto. But what assumptions stand behind it?
What inspires crypto owners to use and invest in crypto?
As CNBC reports, here are several factors at play:
- BTC resembles a religion
- It is extremely popular on social media
- Even its volatility might seem to be exciting for many people
- The good old fear of missing out
- Finally, it gives people hope
In more plain terms, according to Statista, people opt for crypto for the following reasons:
- As an investment for further growth: 60% in the US and 57% in the UK
- For sheer fun: 45% in the US and 41% in the UK
- As an experiment with a new type of assets: 43% in the US and 34% in the UK
- To store value: 28% in the US and 26% in the UK
- To support blockchain as such: 24% in the US and 14% in the UK
- To protect themselves against traditional crashes: 18% in the US and 11% in the UK
- To avoid regulation imposed by the government: 18% in the US and 8% in the UK
As you can see, the sources of motivation may vary greatly. And whatever your preference might be in this respect, the Evercode White Label Wallet will match any of them! With us, you can accumulate funds, invest, store, and experiment with them.