Cryptocurrency: User Perspective and Usage in 2021

BORDERLESS ACCESS CRYPTOCURRENCY User Perspective and Usage in 2021 Redefining Reach and Insights Since the release of the first cryptocurrency, Bitcoin, in 2009, these "digital assets" have drastically increased in popularity, with 1000s of cryptocurrencies to choose from. How cryptocurrencies they are used has also evolved dramatically. This infographic charts the perceptions of cryptocurrency enthusiasts, how they use these digital currencies and various other basic factors influencing their usage. BITCOIN DIGITAL CURRENCY 1 1000100100 JRRENCY RENC DIGITAL CURRENCY 1001000110 are perceived by the cryptocurrency enthusiasts and the way 60111001110111 D 1000 10010 0 01110 BITCOIN 10011 Regions covered: USA, Brazil, UK, France, Germany, Nigeria, South Africa, UAE, Saudi Arabia, India and Singapore | n=200/region NIO Websites and blogs, social media and word of mouth are the most common ways people first learn about cryptocurrencies. Sources of information about 32.6% 19.8% 16% cryptocurrencies Online content Social media Word-of-mouth Online blogs and other websites are the leading In South Africa and Nigeria, word-of-mouth mediums of introduction to cryptocurrencies in and social platforms are the most common the US, UK, India, Brazil, UAE and Singapore. 27% 27% ways people are introduced to cryptos. Social media Word-of-mouth 40% 40% 32% In Germany, online ads are the primary source of introduction to the world of cryptocurrencies. Print media and word of mouth are the primary mediums in France. US UK UAE 32.8% 46% 39% 22% 25.8% 28.9% Singapore India Brazil Print media Word-of-mouth Online ads Sources of information and knowledge Free online courses, YouTube videos, reading online material are the primary sources of information about cryptocurrency related activities. Paid courses and consulting with experts are the least preferred ways to learn about With a couple of exceptions that rely on online courses cryptocurrencies. 46.9% 42.3% 41.7% 21.7% 30.4% 26.7% 57% Reading online material Consulting experts Free online YouTube Paid classroom Paid online Singaporeans Courses Courses Courses However, when relying on cryptocurrencies as a medium of investment, the majority of people on average seek expert and/or professional advice. 77.5% 47% Seek professional advice South Africans Number of On average, the majority of people own only one kind of cryptocurrency. сгуptocurrencies 45.7% OWned Опе сгуptocurrenсу Most cryptocurrency owners in the US, France and Nigeria own two currencies. A large section of crypto owners in USA, UK, Nigeria and India also own three or more currencies 42.5% 54.8% 37% 32.5% 24.2% 36% 23% USA France Nigeria USA UK Nigeria India Reasons for using cryptocurrencies Investment opportunities, security and privacy and ease-of-use are the most common factors that influence most Currently, the primary purpose of the majority of people who use cryptocurrency is to grow their wealth. people to start cryptocurrency activities. 55% 51% 44.3% 52.9% 44.7% 25.6% Security and privacy Ease-of-use Secondary reason-To store wealth securely Investment Primary reason-To grow Tertiary reason- As a currency to purchase items opportunities wealth Most popular or common Sources of cryptocurrency In Brazil, Germany, Singapore and Nigeria, the majority of people source cryptocurrencies by buying them directly. Trading is the most popular methods of collecting or sourcing cryptocurrency in the US, UK, UAE, South Africa and Saudi Arabia 47.5% 32.3% 39% 30% 33% USA UK UAE South Africa Saudi Arabia 39% 39.5% Other sources such as mining, staking and freelancing, while not the most popular methods, are consistently popular ways to gain digital currencies. In India, e-commerce is the most popular source Вгazil Gегmany of cryptocurrencies. 28% 21.4% 23.8% 38% 32.8% 43% Mining Staking Freelancing India Singapore Nigeria Сгyptocurrency nmining 71.4% 97% 34.5% The majority of people who use the mining (proof of work) method to get digital currencies make use of dedicated mining rigs. Use dedicated USA - Nigeria - Use gaming PC for mining mining rig Use mining rig Investor concerns with cryptocurrencies High risk of frauds and market volatility are the most commonly cited risks associated with cryptocurrencies In Saudi Arabia and the UAE, cryptocurrencies being an intangible form of investment is also considered a shortcoming 27.5% 22.9% 23% 21% High risk of frauds Market volatility Saudi Arabia UAE Government control over cryptocurrency The majority of people in most countries believe cryptocurrencies should be controlled by the government. 45% 54.8% 59% 51.6% 61% 49% 42% USA UK UAE Singapore Saudi Arabia India France Most people in Brazil, South Africa, Nigeria and Germany cryptocurrencies should be controlled by an independent agency not associated with governments. A significant percentage of people in South Africa and Nigeria also feel cryptocurrencies should not be regulated. feel 47% 45% 41% 42% 31% 24% Вгazil South Africa Nigeria Gегmany South Africa Nigeria Though in the minority, a large portion of French, Germans, Brazilians and Nigerians also say they will not trust a government controlled The majority of people say they would trust as well as invest in a state controlled cryptocurrency. South Africans are the only exceptions. сгуptocurrency. 35.5% 26.3% 34% 57% 72.6% 58.6% Brazilians Will invest in state controlled cryptocurrency French Germans Nigerians Trust state controlled сгyptocurrency Conclusion Between the rising cryptocurrency value, government regulations and growing investors, the cryptocurrency market is rapidly evolving. This brings the need for brands and financial institutions to understand the changing user behaviour and habits associated with cryptocurrencies for making informed decisions, product innovation, or introduce a new line of services. Get in touch with Borderless Access to help you gain relevant insights for your brand and its products. 日 பப் www.borderlessaccess.com [email protected] in f You Tube COIN DIGITAL CUB DIGITAL