Despite the crypto winter, 75% of crypto holders are confident about the future of the industry - Paxos

- Ask any crypto proponent and they will tell you that 2022 was a year to forget for the crypto market as the high-profile collapses of Terra and FTX initiated contagion shockwaves that resulted in more than $2 trillion in value being lost from the total crypto market cap.

The survey was conducted from Jan. 5 to Jan. 6 and included 5,000 respondents aged 18 or older who live in the United States and have a total household income greater than $50,000. The survey was limited to those who currently have a bank account and made at least one cryptocurrency purchase in the last three years.

Crypto consumers actually want their banks to become more involved with the crypto ecosystem, as 75% of those surveyed said they are likely or very likely to purchase crypto from their primary bank if it were offered, a 12% increase from the previous year’s survey results. “Additionally, 45% of respondents reported they would be encouraged to invest more in crypto if there was more mainstream adoption by banks and other financial institutions,” Paxos wrote.

“This presents a major opportunity for companies to enable crypto purchases of goods from merchants and crypto payments between friends and families,” Paxos said. “The widestream adoption of crypto may have a flywheel effect with 40% of respondents saying they would be encouraged to invest more in crypto if more merchants accepted crypto payments.”

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