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What Americans Know And Think About Digital Currencies - Global Coin Report
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What Americans Know And Think About Digital Currencies

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Ever since cryptocurrencies exploded back in 2017, the entire world has come to know their name. While different countries have been dealing with the new trend in different ways, particularly during the difficulties which the space experienced in 2019, one big question is how far away the mass adoption might be?

There is no way to tell, at this point. However, the question remains, and it also inspired a series of other questions, the most popular of which is — what do consumers think about crypto?

More specifically, what do US consumers think about digital currencies? Do they know about cryptocurrencies and the struggle that the crypto space has been going through?

In an attempt to find answers to these questions, it was discovered that a large number of Americans does not know what to think about the crypto trend. There is a lot of confusion when it comes to crypto, or even what cryptocurrencies are. Surprisingly enough, it appears that the US citizens are still ready to become crypto owners, even if they do not understand it.

Around 56% of questioned Americans reported that they know something about cryptos, be it little or a lot. The remaining 44%, however, admitted to knowing nothing about digital coins.

Around 23% of men stated that they know a lot about cryptocurrencies, while only 7% of women said the same. But, when questioned about digital currencies and what they are, the results confirmed that a lot of Americans have a false image of crypto.

Is cryptocurrency a currency? Are Americans ready for it?

As we know, the industry defines cryptos as currency. However, Americans appear to be less certain about it. Only 38% of questioned individuals described it as a currency, while 26% admitted to having no idea what crypto might be. 19% defined it as an investment, while 17% views it as a commodity.

But, as mentioned, even though they tend to be confused about cryptos, the US citizens are not afraid of it, and 24% of them reported that they either own some amount of crypto now, or they did in the past. Even more surprising is the fact that 35% stated that they plan to become crypto owners in the future, likely within the next five years.

According to Alison McCauley, the author of “Unblocked: How Blockchains Will Change Your Business and (What to Do about It),” Americans might be ready to for accepting money that functions as software.

They are certainly not shy when it comes to new technologies, especially when it comes to money and the way it is handled. Some US citizens even expect to receive the ability to start making payments in ways that have yet to be invented. Whether or not this will even include cryptocurrency still remains to be seen. Maybe it will, or maybe crypto will have to evolve into a new form to satisfy the demand.

However, the question regarding what consumers think seems to be answered. While they enjoy new technologies, they are also extremely interested in having the ability to make easy payments and get new features and extra benefits, all of which comes with the adoption of cryptocurrencies. This might mean that the ground is ready for mass adoption in the US, which, in turn, might mean that cryptocurrencies going mainstream might not be that far into the future.

For now, cryptos have their own battles to win, but if they do, they will certainly be much better accepted than it was expected.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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