Crypto
Cryptocurrency adoption has surged in the first half of 2024, according to Binance
The adoption and visibility of cryptocurrencies have significantly increased this year, according to the cryptocurrency exchange platform Binance, marking a transformative period of growth and widespread integration in the cryptocurrency sector.
The firm revealed that in 2024, it has welcomed over 30 million new users. Additionally, the number of businesses worldwide accepting cryptocurrencies has risen by 42% over the past two years, increasing from 7,731 in October 2022 to 10,952 in April 2024, according to BTC Map.
This trend is further supported by the proliferation of cryptocurrency ATMs, with the global market growing from $115 million in 2022 to $181 million in 2023.
Moreover, Binance noted a growing number of merchants accepting digital currencies as direct payment methods, underscoring cryptocurrencies’ broad appeal. From small businesses to large corporations, adoption rates are steepening as businesses recognize the benefits of cryptocurrency payments in reaching new customers, reducing transaction costs, and times.
However, Binance emphasized that widespread cryptocurrency adoption hinges not only on technological advancements and increasing use cases but also on user knowledge and trust. To this end, Binance launched an education platform in 2018, which has already attracted 928,000 new users in just the first quarter of this year, highlighting the demand for more education and learning within the industry.
According to a Consensys and YouGov survey, 92% of respondents across 15 countries worldwide have heard of cryptocurrencies, and 50% understand what they are. The narrative surrounding cryptocurrencies is evolving.
PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.
A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.
The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.
“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”
Tager said people like receiving cryptocurrency because it has the potential to increase in value.
“There’s so much you can do with this technology and it’s still in its early days,” she said.
Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.
“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”
Gift-givers can also contribute to 529 plans for college and other education expenses.
“It’s that gift that potentially can keep on giving,” Prescod said.
For those still interested in giving cryptocurrency, experts recommend doing research first.
“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.
The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.
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