Posted on

Survey Shows 25% Of US Teens Prefer Cryptocurrency Investment

A new survey shows that teens still receive more persuasion from investing in the stock market, yet, the cryptocurrency sector has become more popular than other alternatives such as real estate.

Researchers tried to probe the perceptions of teens in North America on cryptocurrency industry, the stock market. They also included other investments types in the era of high-octane GameStop.

The research result revealed that the cryptocurrency industry took the lead ahead of other asset classes like real estate. For example, one in four teens prefers cryptocurrency investment if given enough funds than 24% in real estate.

About 43% of the teens maintain that it’s best to invest in the stock market, while up to 37% stick to not investing at all. The survey was jointly conducted by RSM US and Junior Achievement in mid-July this year. They conducted it amidst a small group of over 1,000 teens between 13 to 17 years.

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

Among the respondents, 39% who followed the GameStop saga concurred that stock market investment pays better. However, 20% argued that trading stocks are generally too risky. 40% believed that long-term stock investment is more advantageous.

The survey leaders indicated their plan to reinstate the teens’ confidence that stock market investment is the best. In addition, they will change the negative perception the teens had after observing GameStop’s retail investor’s fate instead of hedge funders.

Jack Kosakowski’s Comments On The Survey Cryptocurrency Sector

Jack Kosakowski, the CEO and president of Junior Achievement USA, made his thoughts in his statements. He stated that the survey results show that the present meme stock incident may be affecting the teens’ perceptions.

Also, he added that it could be affecting their perception of what investing in the stock market means. Jack advised that it’s important for them to help demystify the stock market investment to the future generation.

The Stock market investment has played a vital role in helping numerous Americans to gain a secure retirement. RSM and Junior Achievement have tried changing teens’ perceptions by supporting educational programs on the pro-stock market. The programs include a curriculum scheduled to clarify basic investment tenets and simulated stock market ordeals.

Related Reading | Monetary Authority Of Singapore Puts Binance On Investor Alert List For Violating Payment Laws

According to the survey result, the group’s major challenge is the belief of 51% of the teens. They have concluded that the stock market is good for ordinary people.

As per the past reports, there is an increasing dependence on speculative investments in many parts of the world. It has become prominent among Millennials that struggle to meet up with suppressed wages. The Millennials also struggle with job insecurity and high prices of real estate.

Featured Image From Pixabay.com

Posted on

Facebook Officials Claim Novi Received Approval From Major U.S. States

David Marcus, an executive in Facebook, released the regulatory information concerning Novi. The update states the current status of Diem’s crypto wallet.

Through a recent blog post, Marcus confirmed the approval for Novi in almost every state in the United States. Also, he revealed that it will not be launched in places where it has yet to get approval.

The Facebook executive mentioned that project commits not to launch Novi on Diem without the necessary clearance. Moreover, he states that the project still keeps to its commitments. As such, there’s an ongoing consultation with international regulators.

Furthermore, Marcus disclosed some information about Novi’s features and functions. According to him, the crypto wallet will enable free person-to-person payments within and outside the U.S. He explained the possibility for a future Novi’s profitability from merchant payments. This could be effective if the project will build a larger customer base.

Related Reading | Solana Continues Bullish Trend, Becomes The 10th Largest Cryptocurrency

Marcus added that they could diversify and provide a range of other financial services. These could be achieved through collaborations with prominent, reputable, and regulated partners that will bring expansion.

How has The Facebook Project Fared?

From the current news on Facebook’s crypto, the project is progressively moving to its launching period. This’s after over 2 years through the period of development and delay in the project.

The announcement of the project was in June 2019. However, some issues surrounded it immediately after that. Also, most of the project members exited the Diem Association in early October 2019.

Some of the old members to exit the group include Paypal, Mastercard, and Visa. Consequently, many European regulatory made moves to crack down on the project within the period. The same time brought Mark Zuckerberg to face the U.S. Congress concerning Facebook involvement.

From the multiple issues, Diem was forced to move for a rebrand this year. This probably shifted its attention to the US.

The rebranding process is meant to give the project independence from Facebook’s involvement. However, the project before its rebranding had several concerning Facebook’s direct involvement. Some of the concerns were the misuse of Facebook in legitimate activities and funding of terrorism.

Related Reading | Coinbase States Infrastructure Bill Could Impact 60 Million American Crypto Owners

Additionally, to boost its new stance, Diem, through its rebranding, selected some new members to its team. The move was for better repositioning in compliance with regulations and regulatory bodies. So, the aim is not just to create a name but to perform beyond the name.

Recall that before now, Diem has passed through several tracks as different brands and trademarks. Some of the previous brands include Globalcoin, Facebook Coin, and Libra.

Also, Facebook, in May, revealed its plans of launching Diem as a stable coin with the U.S. dollar’s backing. Invariably, it took the project out from several other international currencies.

However, neither Marcus, Facebook, nor the Diem Association gave any possible release date for the wallet or stable coin.

Featured image from Pixabay

Posted on

Report Shows United States At The Top Spot Among Crypto Ready Countries

Crypto Head recently published a report placing the United States on top of its list of “Crypto ready” countries.

One indication that the country is ready to adopt cryptocurrencies is the whopping number of Bitcoin ATMs presently operating in the U.S.

Related Reading | Elon Musk’s “Baby Doge” Tweet Spikes The Dogecoin Price

The research platform based its analysis on the ATMs in different countries and how the citizens are utilizing them. The team also checked the extent of crypto legality in the countries and considered if they could accept it.

Also, they checked the total searches that people carry out on digital asset terms online. These factors enabled them to calculate the result when comparing 200 countries and different territories.

U.S. Bags The Top Crypto Ready Position

The crypto-ready score index used a scale of 10 countries to add to a list. According to the results, the USA took the first spot by scoring a whopping 7.13.

After the USA, Cyprus and Singapore ranked second and third respectively. While each of these countries scored below 6.50. Even though, experts believe that the platform didn’t consider more factors that could measure the preparedness of these countries for digital assets.

For example, some opine that report should have added the country’s regulatory environment and tax laws.

Report Shows United States At The Top Spot Among Crypto Ready Countries

The crypto market has taken a hit and it has dived into the red zone | Source: TradingView.com

While gathering data for its research, the report revealed 17,436 cryptocurrency ATMs in the USA. This number exceeded the ATMs in the second country Canada by 16,000. The team also came to know that more and more ATMs are being placed steadily in the United States.

They also discovered that Coin Cloud, an ATM company, is steadily increasing its installations all over the nation.

Related Reading | Bitcoin Solves This: Hong Kong ATMs Out Of Cash And Panic Over Indian Banks

The researchers also based their score on the people that can use these ATMs. According to their findings, the US took the first position again as each ATM in the State serves 19,023 while Canada has one ATM for 26,265 people.

Japan was the least as its single ATM is for 126 million users. But amid the 200 countries, 24 didn’t have cryptocurrency ATMs.

Other Countries Show Interest For Crypto Adoption

When considering the legal preparedness of 39 countries, including the United States. They based this decision on two points which were legality to own cryptocurrencies and legality to use in their banks.

Related Reading | TA: Bitcoin Correcting Gains, What Could Trigger Fresh Rally

On online searches, the research team checked the total searches on cryptocurrency terms in these countries. Then, they compared it with 2020 data to gauge the increasing interest in the technology for each country’s population.

According to their data, Cyprus recorded a 137% increase in its online searches for cryptocurrency terms from 2020 data.

Furthermore, they discovered that for every 100,000 internet users in the country, there were up to 34,000 searches for these terms. This number placed it at the first position for online searchers of the technology.

Apart from Cyprus being the first in online searches, the team discovered that the interest in cryptocurrencies is rising in other countries.

For example, Romania recorded a 331% increase in its online searches based on a yearly analysis. Other countries such as Greece, United Kingdom, Saudi Arabia, and Canada also showed a spike in digital asset’s interest.

Featured image from Pixabay, chart from TradingView.com