Chinese crypto news outlet 8btc reported on 26 December 2018 that 40% of 4,200 Chinese respondents are willing to invest in cryptocurrencies in the future. The survey was conducted by PANews, supposedly a news outlet that shares blockchain news across Asia.
It is worth noting that 50% of the respondents were accustomed to the terms ‘cryptocurrency’, ‘Bitcoin (BTC)’ or ‘digital currency’. However, only 22.2% understood how blockchain tokens worked. 14% of them invested in the currency, where 40% of these people know about major currencies such as EOS and Ethereum, 40% know about other kinds of altcoin, while 20% of these people only know of BTC and have little knowledge of the currency.
From the survey, it is apparent that the younger generation is more interested in the crypto market as 60% of the investors are aged between 19 and 28, and generally has more trust in the decentralized system. Following the financial crisis in 2008, the millennial generation lost trust in the typical banking systems, encouraging them to invest in another market like crypto. However, most of these investors are expected to face losses as they jumped into the market while crypto was at its glory in 2017.
On the other hand, 63% of the survey respondents did not see cryptocurrency to be necessary in terms of being used as a mean for payments, as the country already has multiple mobile wallets made available to them that operate very effectively and efficiently for the function.
Crypto has been becoming more widely known and welcomed in multiple countries. In November, former U.S. congressman Ron Paul conducted a Twitter survey showing that 94,894 voters preferred to invest long-term in BTC rather than traditional money schemes.
Additionally, the German Federal Association for Information Technology, Telecommunications and New Media (Bitkom), also conducted a survey which showed that over 30% of the local businesses sees blockchain as a technology capable of being a game-changer, similar to the introduction of the Internet.
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