Millennials are enthusiastic about cryptocurrency, with 77% wanting to learn more. Millennials are enthusiastic about cryptocurrency, with 77% wanting to learn more.
According to a survey conducted by credit card giant Mastercard, four out of ten people intend to use cryptocurrency for payment within the next year.
The survey, titled ‘Consumer Appetite for Digital Payments Takes Off’ and published on May 4, polled more than 15,500 people from 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 ago. Furthermore, it was reported that 77% of millennials are interested in learning more about cryptocurrency, and 75% agree that they would use digital assets if they understood them better.
The United States Census Bureau defines millennials as people born between 1982 and 2000, implying that their age range in 2021 will be between 21 and 39 years old.
The movement to increase access to cryptocurrencies has already begun; in mid-February, Mastercard announced that it would support digital asset payments for its nearly one billion users to use at over 30 million merchants.
The 40% figure for general crypto usage included respondents of all ages from North America, Latin America, the Middle East, Africa, and Asia Pacific.
While consumer interest in “floating cryptocurrencies” such as Bitcoin is high, Mastercard stated that more work is needed to ensure consumer choice, protection, and regulatory compliance.
The pandemic has altered people’s perceptions of digital payments, according to the report, which adds that 93 percent of people will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR codes, in the coming year.
According to Craig Vosburg, Chief Product Officer at MasterCard, the company must enable all payment methods, 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 reported on May 3 that the payments giant had launched an accelerator program for fintech startups, including blockchain-based payment firms.