Cryptos will be univerally adopted within 10 years and overtake traditional investments - new survey
Cryptocurrencies will see mainstream adoption within the next 10 years, according to a survey from a crypto exchange service.
Bitstamp surveyed more than 28,000 investors from 23 countries across North America, Latin America, Europe, Africa, the Middle East, and Asia-Pacific.
It found that 88 per cent of institutional respondents and 75 per cent of retail investors believe that crypto will see mainstream adoption within a decade.
The survey also discovered that a further 80 per cent of institutional investors reported that cryptos will overtake traditional investment vehicles.
Levels of trust in the digital currency as an asset class is high, with 71 per cent of investment professionals and 65 per cent of everyday investors stating that they trust crypto.
But trust on a global level is mostly driven by developing countries, the survey showed.
"Where trust in the traditional financial system is low: for example, in emerging economies, 79 per cent say crypto is more trustworthy compared to 62 per cent of more developed financial markets," Bitstamp said.
Last year, El Salvador officially adopted Bitcoin as a legal currency. While some welcomed the move, it was also met with backlash and protests due to the volatility in cryptocurrency prices.
Bitcoin saw its last high in October last year at $61,000 (€56,000) and has been on a steady downward spiral, hovering around $39,000 (€36,000).
Other investment vehicles in the decentralised finance ecosystem (DeFi) also show strong levels of trust, the survey showed, adding that stable coins, NFTs and blockchain are rising in trust across retail and institutional investors.
However, the survey also said that a "key barrier" to crypto investing is trust in regulation. Almost half of the retail
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