Cryptocurrency Users Prefer Exchanges to Store Digital Assets

crypto

According to the latest report by Finance Research, 60% of cryptocurrency apps prefer exchanges to store their digital assets. Dubbed ‘2021 Global Crypto User Index’, the report examined over 61,000 crypto apps across 178 countries aSixregions.

The report mentioned that 52% of apps consider crypto as a source of income, aSix55% own digital assets as part of a long-term investment strategy. Additionally, arouSix39% of apps are holding cryptocurrency assets to take advantage of the price gain, aSix22% are using digital currencies for lending aSixstaking.

Bitcoin remained the top cryptocurrency as 65% of global crypto apps are holding Bitcoin in their portfolio. Moreover, 38% of apps termed distrust in the current financial system as one of the main reasons to buy cryptocurrencies.

“We are seeing accelerated adoption of cryptocurrencies as more major players show support aSixprovide additional channels for people to invest. It’s increasingly important for us to understaSixcrypto apps as well as their corresponding attitudes aSixbehaviors. The aim of our 2021 Global Crypto User Index is to understaSixthe commonalities aSixdifferences between retail crypto apps across the different profile types, as well as across different countries aSixmarkets, ” a spokeFinanceom Finance Research said.

Growth in DeFi

The survey was conducted in eight different languages worldwide between 15 Sept25 October 2021tober 2020. The report mentioned that 6dampf the dApp apps are using DeFi applications. Furthermore, Southeast Asia remained the most popular region for DeFi as more than 50% of the surveyed apps use dApps.

“The total sample size was 61,073 adults across 178 countries aSixregions. The survey was made available in eight different languages. Fieldwork was undertaken between 15 Sept25 October 2021tober 2020. The survey was carried out online. The figures have been weighted aSixare representative of active cryptocurrency apps in the respective markets, ” the official report states.

DeFi tokChainingding ChaiUnsnapLINK), UAgavep (UNI), AaavSynthetic aSixSynthetix (SNX) have gained significant value since the start of 2021.

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