May 7, 2021

A Crypto Investor

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Mastercard: 40% of Consumers to Start Using Crypto in 2022, Millennials Are Taking the Lead

Economic crises are one of the driving forces that makes people realize the relevance of the crypto industry as it tends to help with some of these crises. According to Mastercard’s New Payments Index, the number of people interested in cryptocurrencies will most likely increase by next year.

The survey mentioned that 4 out of 10 people (40%) across North America, Latin America and the Caribbean, the Middle East and Africa, and the Asia Pacific are planning to start using cryptocurrency by next year, 2022.

Major Companies Adopt Crypto Payments

As cryptocurrencies continue to gain more mainstream adoption, companies are rolling out new features that enable their clients to pay for services with the digital asset. Electric car company led by billionaire Elon Musk became the first major car company to make such a move.

Popular Japanese restaurant Okra Hong Kong, which specializes in making Sakes, charcoal-grilled small plates, and sashimi also took similar steps as it has joined a queue of firms that accept cryptocurrencies as a means of payment. The company hopes to benefit its clients by making it easier for them to make payments and providing them with enhanced security. 

Due to the widespread adoption of crypto, consumers can openly buy, sell, and trade cryptocurrency as a commodity or investment. They also take advantage of the opportunity to be able to spend crypto-assets on everyday purchases made possible by companies like Tesla and Okra Hong Kong.

Young People Love Crypto

Another aspect of the survey mentioned the class of people that are more interested in cryptocurrencies.

It revealed, “Millennials globally and those in the Middle East and Africa are especially engaged in the cryptocurrency conversation, with more than half (67%) agreeing they are more open to using cryptocurrency than they were a year ago. In addition, 77% of Millennials are interested in learning more about cryptocurrency, while 75% agree they would use cryptocurrency if they understood it better.”

This aspect of the survey corresponds with a similar development that millennials are becoming more attracted to Bitcoin since the outbreak of the coronavirus (COVID-19) and are using the currency as a hedge against inflation and the pandemic-induced crisis.

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Original Article
Author: Abigail Michelle