Interest in digital assets has seen a significant increase in Q1 of the year 2020. This is according to data from crypto aggregator Coin Market Cap. This cuts across age and demographics, with the most interest coming from millennials. This is because the rising interest is driven by the introduction of youth-compatible platforms such as sports and casino website, 1xBit.
For the first quarter of the year, the most significant growth was recorded in India, Pakistan, Colombia, Canada, and Nigeria. Although the most growth in female users was recorded in only two countries (Greece and Romania), this growth represents 43.24% of interest growth from the previous quarter.
Part of the report by Coinmarketcap reads:
“While we have consistently seen an increasing number of female users, this segment saw a particularly strong growth of 43.24% compared to the previous quarter. Within the female user segment, the Americas and European regions grew more than 50% in users.“
Top countries with a user growth of at least 80% includes Nigeria: 210.6%, Australia (158.07%), Spain (120.71%), Canada (112.45%), Mexico (97.33%), The U.K. (91.48%), Colombia (85.07%), India (83.07%), Pakistan (81.79%) and Greece Up (164%), all of which are users between the ages of 18 and 24. This is contrary to a growth of just 41% among users over the age of 65.
Turmoil is the major driver
As the COVID-19 pandemic has continued to ravage economies of the world, many businesses went online, including sports and betting. Crypto-based casinos like 1xBit have also become quite popular as young millennials flock online to use these platforms. This is not the only aspect of cryptocurrency that has seen massive growth.
Crypto payments have also recorded significant growth as the WHO encouraged contactless payment rather than the use of physical cash for transactions. This has made many who wouldn’t otherwise use cryptocurrency to enter the industry and most such users are also millennials. This supports several surveys that suggest that millennials are interested in cryptocurrency and that cryptocurrency investment may see huge growth in the future. Interest in digital assets is not expected to slow down anytime soon, and Q2 growth may exceed that of Q1.
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