Despite some challenges in the crypto space, like market volatility and scandals, consumer confidence in digital currency has remained strong. A recent report from Accenture showed that one in five respondents now own cryptocurrency.
According to Accenture’s Global Consumer Payments 2022 report, 28% of digital currency holders are investing in crypto for the long-term, with 22% of respondents citing curiosity as their primary reason for entering the market. Other reasons for investing include cross-border payments and alternative financing options.
“The lack of standardization and the complexity of harmonizing regulations across jurisdictions may impede the use of CBDCs for cross-border transactions.”
The report also noted that recent crypto market volatility could slow down its adoption until the market is more regulated. Currently, only 23% of respondents stated that they trust crypto wallets for providing a secure environment for purchases and payments.
The survey reached 16,000 clients in 13 countries in Asia, Europe, Latin America, and North America in August and September 2022.
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Digital payment options such as cash, cards, checks, digital wallets, crypto, authenticated biometric payment, and metaverse are on the rise. These interactions will become more common as digital reality and metaverse interact more frequently.
However, the report states that 58% of metaverse consumers remain hesitant about transacting in the metaverse, mainly due to lack of trust in payment providers. This does not mean that consumers don’t want to be curious. Another recent report from Capgemini showed that more than 90% of internet users are interested in the metaverse and how it could transform their online experience.
