August 9, 2020

32% of Europeans believe that the future of electronic payments for cryptocurrency

32% of Europeans believe that the future of electronic payments for cryptocurrency

According to a new ING Bank study, a thirdEuropeans are confident that cryptocurrency will become the basis of online payments of the future, and 27% are now ready to pay in digital currency and open separate accounts in banks.

Amid the upcoming launch of the digital currency Facebook Libra and the digital renminbi, the Netherlands financial conglomerate surveyed 15,000 people from 15 European countries.

41% of respondents were positive about the future prospects of cryptocurrencies, and 23% were skeptical. 27% said they were open to new cryptocurrencies offers from brands and organizations with whichthey are familiar, and agreed that banks should offer customers current crypto accounts. Although 54% of Europeans are not ready to completely abandon fiat money.

73% of respondents knew that cryptocurrency isa kind of digital currency, and 63% were aware of high volatility. However, the authors of the study note that residents of the EU still have limited knowledge in this area.

For example, 51% of respondents said thatcryptocurrency can be paid in most stores, 77% only heard about the existence of bitcoin and ethereum, and only 27% knew that central banks did not manage them.

Recall that Germany and France opposed Libra's entry into the EU market, and also want to launch a single European digital currency in order to compete with Facebook.

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