American crypto users haven’t lost their trust in “intermediaries” to hold their crypto, with a January survey from Paxos suggesting a majority of United States crypto hodlers still trust banks, exchanges and mobile payment apps to custody their assets.
An annual online anket published on Mar. 7 by the stablecoin issuer conducted between Jan. 5 and Jan. 6 sought to understand how the crypto winter and “large industry fallouts” in 2022 — including FTX and Alameda Research — impacted consumer behavior and confidence in the crypto ecosystem. Paxos noted:
“2022 was a rollercoaster year for the crypto industry.”
“Ranging from some of the highest Bitcoin prices ever to some of the lowest, largescale industry fallouts from companies like Terra, FTX, Alameda Research, and more — it was a volatile and potentially confidence-testing year for the ecosystem,” it added.
2022'nin çalkantılı bir şekilde sona ermesinin ardından, kripto tüketicileri 2023'e olan güvenlerini korudular. Bir tüketici anketi gerçekleştirdik ve kripto paranın hâlâ finansal geçim kaynakları için birincil temel unsur olarak görülmesinin birçok nedenini bulduk. Anketimizin tamamını buradan okuyun: https://t.co/AwFrGMuX0r pic.twitter.com/TZcmct0O5L
- Paxos (@PaxosGlobal) Instagram fotoğrafları ve videoları 7 Mart, 2023
However, the survey found that of those that heard and followed the FTX saga, more than half (57%) of respondents either planned to buy more crypto or simply do nothing as a result of the news.
It also found that 89% of respondents still trusted “intermediaries” such as “banks, crypto exchanges and/or mobile payment apps” to hold their crypto, stating:
“Aslında, birçok kripto şirketinde görülen yüksek profilli çöküşlere ve altta yatan zayıf risk yönetimi uygulamalarına rağmen, kripto sahipleri hala kriptoyu kendi adına tutacak aracılara güveniyor.”
The survey also found more desire from consumers to be able to buy Bitcoin (BTC), Eter (ETH) and other digital assets from household or traditional banks, with 75% of respondents indicating they were “likely or very likely” to purchase crypto from their “primary bank” if it were offered, a 12 percentage point increase from the year before.
“Additionally, 45% of respondents reported they would be encouraged to invest more in crypto if there was more mainstream adoption by banks and other financial institutions,” Paxos added.
It said a “significant untapped opportunity” existed for banks if they expanded offerings to digital assets. “Not only would these services satisfy increasing demand, but they would also result in higher engagement,” Paxos claimed.
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Respondents qualified for the survey if they lived in the USA, were over 18 years of age, had a total household income greater than $50,000 and purchased cryptocurrency sometime within the last three years. The survey recruited 5,000 participants.
“Despite the volatile 2022 crypto landscape, consumers didn’t lose faith in their crypto investments. This number was unchanged from the previous year’s report, underlining the long-term confidence of those participating in crypto markets,” wrote Paxos.
The timing of the survey however means that the gleaned results did not take into account more recent crypto headwinds, such as the bankruptcy of crypto lender Genesis, the crackdown on Binance USD (BUSD) involving Paxos and the financial uncertainty of crypto bank Silvergate Capital.
Source: https://cointelegraph.com/news/89-still-trust-centralized-custodians-despite-2022-s-collapses-survey