Cryptocurrencies are owned by 20% of the world’s solvent population

In 2022, the crypto space experienced prolonged market volatility and scandals that negatively affected consumer confidence in the industry. However, the final annual report of Accenture showed that despite the turbulence, many cryptocurrency owners around the world are not going to get rid of their digital assets.

According to the Accenture Global Consumer Payments 2022 document, many consumers still prefer traditional payment methods such as cash or credit cards, but one in five solvent respondents currently owns cryptocurrency. The survey sample included 16,000 solvent men and women in 13 countries across Asia, Europe, Latin America, and North America.

28% of survey participants said they decided to enter the crypto space because of long-term investments. 22% of consumers said they chose cryptocurrencies because of their interest in the industry. Other reasons included alternative financial options and cross-border payment capabilities.

The report also notes that «the effects of the recent volatility in the cryptocurrency market may slow down the adoption of digital assets — at least until the market becomes more regulated.» Therefore, only 23% of respondents said they trusted crypto wallets as a secure environment for making payments and purchases.

Respondents also mentioned central bank digital currencies (CBDCs) as an alternative payment method in the future. However, all those interested in regulatory policy at the level of their governments still see many problems that need to be solved before introducing a state-owned cryptocurrency into circulation.

58% of consumers are still hesitant to make transactions in the meta-universe. The main reason is a lack of trust in payment service providers. Accenture analysts have concluded that cryptocurrency holders are not as interested in metaverse as they are in classic investments in digital assets.

Recently, we talked about a study by Huobi crypto exchange: experts found that the number of cryptocurrency wallet users grew by 6% in 2022. The most popular crypto wallets include MetaMask, Coinbase, the ex-Facebook wallet, and Trust Wallet.