Nomics’ Crypto Trust Index – Q1 2021, North America
Crypto News

Nomics’ Crypto Trust Index – Q1 2021, North America


Note: This report is sponsored by Nexo.io, which lets you earn up to 12% interest on your crypto and EUR, GBP and USD.

Nomics presents its Q1 2021 Crypto Trust Index, a survey of 1,000+ consumers that dives deep into brand awareness of cryptocurrencies, wallets & exchanges while measuring confidence in crypto trading and HODLing.

Introduction

Nomics recently surveyed over 1,000 unique, U.S.-based consumers about their feelings towards cryptocurrency. 87% of participants (947 of 1,089) currently owned crypto with approximately 82% holding Bitcoin (BTC).

The questions were designed to gauge respondents’ trust in the exchanges, wallets, and other products that facilitate crypto HODLing and trading. The survey began by asking about cryptocurrencies and crypto-related products that participants recognized by name (aided awareness) and the brands with which they most preferred to engage. Questions then shifted to participants’ thoughts about the future of the space, their attitudes towards cryptocurrency trading, and how they usually hear about crypto.

All survey respondents were based on North America. We plan to run similar reports for Africa, Asia, Europe, South America, etc.

The findings are followed by detailed Demographics and Methodology sections, which shed more light on how the survey was conducted, and a Conclusion.

Quotes

“Over the past year, nearly 60% of #cryptocurrency owners have become more optimistic about #crypto.” ~Nomics’ Q1 2021 Crypto Trust Index Click To Tweet

“In the past year, about 60% of current #cryptocurrency owners have become more confident in profitably trading #crypto.” ~Nomics’ Q1 2021 Crypto Trust Index Click To Tweet

“54% of respondents hear about #crypto & exchanges through family, friends & co-workers. Others hear about #cryptocurrency through social media (44%) & search engine results (43%).” ~Nomics’ Q1 2021 Crypto Trust Index Click To Tweet

Executive Summary

  • Exchange usage and considerations: Nearly 80% of respondents have traded on a cryptocurrency exchange, and respondents consider security and fees/cost of trades to be the two most important considerations when choosing an exchange.
  • Exchanges: Coinbase is by far the most recognized, having an aided awareness of 74% – over twice as much as its closest competitor, Kraken (35%).  Coinbase is likewise the most preferred exchange, with a preference of (62%) – about triple that of its closest competitor, Binance (21%).
  • Wallets: Blockchain.com and Trust Wallet stand out as the two most recognized and preferred cryptocurrency wallets.  BRD Wallet and Xapo are least recognized and least preferred.
  • Varied Brand Appeal: PayPal and Coinbase are the brands that the most respondents found to be completely appealing.
  • Cryptocurrencies: Bitcoin has the highest aided awareness, with twice as many respondents (88%) recognizing Bitcoin as its next closest competitor, Ethereum (ETH).
  • Cryptocurrency Ownership: 87% of respondents own cryptocurrencies like Bitcoin (which is owned by the highest percentage, 82% of cryptocurrency owners in this study).
  • Cryptocurrency Perceptions: Respondents that currently own cryptocurrency strongly agree that it is useful for private transactions and that it is a safe, long-term investment.  Current owners have become more optimistic about cryptocurrency and more confident in profitably trading it in the past year.  They are most optimistic about Bitcoin.
  • Current Trading Attitude: More than 70% of the total study respondents are moderate to extremely likely to consider trading cryptocurrency in 2021.
  • Sources of Information:  More than half of respondents recall hearing about cryptocurrencies and exchanges from family, friends, coworkers, and others.  Over 40% of respondents recall hearing about them on social media or from search engine results.





Source link