An impressive 73% of respondents expressed optimism about the increasing integration of cryptocurrencies into various industries. They also believe that digital assets will become more useful and trustworthy over time.
About 55% of those surveyed stated that they exclusively interact with digital assets because of their confidence in the crypto market and blockchain technology. Additionally, 24% of participants reported that more than half of their total trading volume involved cryptocurrencies.
The survey also explored the different ways in which individuals use digital assets. It was revealed that 34% of respondents use cryptocurrencies for long-term trading, 26% store their savings in cryptoassets, 13% engage in day trading, and 9% use them for making purchases. Among those who use cryptocurrencies for everyday purchases, 55% do so regularly, with 10% using cryptoassets on a weekly basis.
Binance researchers identified several key factors contributing to the widespread adoption of cryptocurrencies in Europe. These include the potential for high profits (20%), the concepts of decentralization and financial independence (18%), and the appeal of the underlying technology (17%).
The study also revealed interesting insights about the experience level of respondents. Approximately 82% reported having been involved in cryptocurrencies for at least a year, while 73% actively traded digital assets over the past five years. Only a small percentage (5%) joined the market within the past six months. Among the survey participants, 53% identified themselves as active traders, with the majority engaging in monthly trading. When it comes to storing their digital assets, 65% prefer centralized exchange wallets, while 18% use hardware wallets.
“Cryptocurrencies are increasingly being used in everyday purchases, confirming their integration into our lives. Europe’s establishment of a secure regulatory framework through the MiCA is speeding up mainstream adoption,” commented Binance Chief Marketing Officer Rachel Conlan.
Another recent survey conducted by Binance found that 76% of users worldwide believe in achieving financial equality and improved wealth through cryptocurrencies.