Europeans Are Putting Their Faith on Bitcoin

In the midst of COVID-19 Pandemic, people residing across the European countries are seemingly confident about the future of Bitcoin and other cryptocurrencies. In addition to this, people are seemingly optimistic regarding ground-breaking blockchain technology.

In the year 2020, Europeans feel that the cryptocurrency industry will be in existence for over a decade. The reports have come from the study conducted by bitFLyer Exchange. The study suggests that Europeans feel the downtrodden digital assets will be in circulation even after the year 2030. Due to Coronavirus, the entire continent, as well as the world, has taken it to the digital sphere to stay relevant in the new normal.

Increase in number of Cryptocurrency believers with every passing year

Back in 2019, around 63% of people across Europe felt positive about cryptocurrency's avenue. Moreover, the number has increased by 3%, as 66% European feel that cryptocurrency will prevail for at least a decade more!

By the looks of it, the study was an integral part of the yearly Crypto-Confidence Index by bitFLyer. The study was conducted based on 10,000 respondents' consumer poll spread across ten European countries. The first-ever Crypto-Confidence Index Survey was conducted by the European arm of bitFLyer, bitFLey Europe in the month of March. Denmark, Germany, Netherlands, Poland, the United Kingdom, Belgium, France, Italy, Norway, and Spain have participated in the survey.

Italy showcases insurmountable confidence in terms of cryptocurrency during the pandemic

After China, the country from the deadly virus, COVID-19 spread throughout the world, Italy was the second country in the globe to have a devastating impact by Coronavirus. In March 2020, COVID-19 spread among the citizens of Italy like wildfire. Men, women and children were exposed to the virus significantly. The situation in Italy during the spread of Coronavirus was so severe that people were put into medical beds in the streets of Italy.

The survey revealed that around 72% of Italian people have reportedly expressed their faith and confidence in cryptocurrency's longevity. Italy leads among different nations and became the leader in believing that cryptocurrency can make the world a better place, economically and technologically.

It was a sheer surprise to see that Italian did become exponentially optimistic regarding the future of cryptocurrency. The results of March 2020 indicate that there is a surge of 4% which came from polling results of March 2019. During mid-March, the significant bank in Italy, namely, Bance Sella has launched a Bitcoin trading service and at the same time, unlocks the feature for around 1.2 million users.

Red Cross Bitcoin Fundraiser in Italy

A national health emergency came into being in Italy as the COVID-19 cases rose rapidly. The notable P2P provider of national disaster, Helperbit single-handedly launched a Bitcoin fundraiser for handling impending COVID-19 emergencies.

The funds raised were reportedly used to purchase and setting-up second-level AMP aka Advanced Medical Post for COVID-19 pre-trial cases, as per the announcement. The initial target was to raise €10,000 for purchasing medical equipment and core infrastructure to make the project successful.

The project was successful in reaching its goal of accumulating €10,000, they re-opened the fundraiser and equipped it with a brand-new goal to buy the emergency accessories for medical use.

Italian Red Cross' Bruno Pietrosanti of the Colli Albani Committee said that the country firmly believes that Bitcoin aids in carrying out the most innovative fundraiser. Further, the fundraiser aided the governing body to efficiently procure the essential economic resources which were very difficult to obtain at the time of Pandemic. Learn more about Europeon faith in bitcoin from https://bitcoinchampion.io/

The UK is least confident with 56% of people trusting cryptocurrency

When it comes to putting faith in the longevity of cryptocurrency, the UK showed horrific results. In the United Kingdom, 56% of the total population believe that cryptocurrency is here for the long haul.

Other than the UK, Norway is another country to have demonstrated a significant drop in confidence when it comes to the future of cryptocurrency compared to the past. The poll suggests that people residing in the UK who feel that cryptocurrency will be prevailing even after 10 years dropped to 56%, which is 1% less than the statistics of 2019.

At the same time, Paxful, a P2P cryptocurrency exchange platform suggests that Americans are considering cryptocurrencies to be an alternative to the present-day financial system.