According to research conducted by a financial technology site, trust in Bitcoin has exceeded the trust in large banks. The results of the research also showed how people look at the future of Bitcoin.
People rely on Bitcoin more than large banks, according to a new study by the financial technology news site The Tokenist. According to the study, which was attended by 4,852 people from 17 countries, 47% of the participants trust Bitcoin more than big banks. Moreover, this trust has seen a 29% increase over the past three years.
In the research conducted by The Tokenist, differences of thought between generations appeared in the comparison of Bitcoin and big bank. The younger generation trusts Bitcoin more than banks.
Y generation and Bitcoin:
According to the research, more than half of the Y generation (51%) rely more on Bitcoin. The increase in the number of trusting people compared to 2017 is 24%. According to the survey, more than 9 out of 10 (93%) of the participants over the age of 65 trust the big banks more.
Participation over 65 is cautious towards Bitcoin, and half of them think Bitcoin is a ‘bubble’ to explode. In generation Y, this rate remains at 24%. Generation Y’s interest in Bitcoin is growing and 44% of this generation is considering buying Bitcoin in the next five years.
According to the research, more than half of the generation Y (59%) thinks that Bitcoin will be adopted to a great extent in the next 10 years and that most of the people in the world will use this currency. Along with the Y generation, information about Bitcoin and trust in Bitcoin has increased among all age and gender groups.
According to the research result, 60% of the participants think that Bitcoin is a positive innovation in the field of financial technology. Also, 45% of the participants prefer Bitcoin to shares, real estate and gold. Some Bitcoin fans argue that the shares were hit during the coronavirus epidemic and quarantine period, making this a very favorable moment for cryptocurrencies.