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Millennials are enthusiastic around cryptocurrency, with 77% seeking to read more.
According to a study conducted by credit card giant Mastercard, four out of ten people plan to use cryptocurrencies for payment during the next year.
The survey, published on May 4 and titled ‘Consumer Appetite for Digital Payments Takes Off’, polled more than 15,500 people across 18 countries.
It discovered that millennials are particularly interested in cryptocurrencies, with more than two-thirds, or 67 percent, agreeing that they are more open to using cryptocurrency than they were a year earlier. Furthermore, it was confirmed that 77% of millennials are interested in learning more about cryptocurrencies, and 75% believe that they would use digital currencies if they knew them better.
The United States Census Bureau defines millennials as those born between 1982 and 2000, implying that their age span in 2021 would be between 21 and 39 years old.
The movement to increase access to cryptocurrencies has also begun; in mid-February, Mastercard revealed that it will accept digital currency transfers for its almost one billion customers to use at over 30 million retailers.
The 40% statistic for general crypto use included respondents of all ages from North America, Latin America, the Middle East, Africa, and Asia Pacific.
Although market interest in “floating cryptocurrencies” such as Bitcoin is strong, Mastercard noted that further work is needed to insure consumer preference, security, and regulatory enforcement.
The pandemic has altered people’s perceptions of digital payments, according to the study, which adds that 93 percent of people would be using at least one new payment form, such as bitcoin, biometrics, contactless, or QR codes, in the coming year.
According to Craig Vosburg, Chief Product Officer at MasterCard, the organisation would allow all payment options, including cryptocurrencies, in the future:
“As we look ahead, we need to continue to enable all choices, both in-store and online, to shape the fabric of commerce and make the digital economy work for everyone.”
Cointelegraph announced on May 3 that the payments giant had opened an acceleration platform for fintech companies, including blockchain-based payment firms.