In general, people prefer to invest in crypto than in traditional media.
The overwhelming majority of Russian investors see cryptocurrencies as a more attractive investment proposition than traditional fiat currencies or gold, consistent with a study by the AFD (Association of Foreign Currency Traders).
Even among those that haven't traded digital assets, most are already brooding about buying cryptocurrencies within the near future.
According to the survey, national currencies are losing attractiveness for investors in Russia.
Just over 14% of respondents said they might keep their money in fiat currency, while a powerful majority of 76.9% like better to buy cryptocurrencies like bitcoin. but 9% don't have good prospects in any currency and have opted for gold.
More than 17% of survey respondents trade digital currencies a minimum of once a month, and 35.1% trade cryptocurrencies even more often than that. Another 24.7% can skip a month and fewer than 1 / 4 , or 23.1%, haven't performed transactions involving cryptocurrencies.
However, 77.1% of the latter group of investors, those that haven't traded digital currencies, consider acquiring cryptocurrency within the near future.
Another 15.3% of respondents admitted not having made a final judgment on the matter and only 7.6% said they might not buy cryptos in the least .
Interestingly, 76.5% of respondents believe that the share of digital coins in circulation will still grow over subsequent five years and eight expect them to completely replace money.
A similar study administered in April showed that 14% of all Russians aged between 18 and 65 believe that bitcoin will become completely extinct within a decade.
Another interesting finding from the AFD survey, cited by Forklog, is that quite half the investors questioned, 51.5%, decided to shop for digital currencies for long-term wealth building, while those trying to find quick profits represent only 8%.
Most Russian investors who participated within the survey share the view that regulation is vital to removing unscrupulous market participants, for instance .
But at an equivalent time, quite 40% said government control should be as limited as possible.
Nearly 16% believe that cryptocurrencies don't require regulation and nearly 9% doubt that decentralized digital money are often subject to state control. DeFi stands for “decentralized finance” and refers to a category of decentralized cryptocurrency platforms which will operate autonomously without the support of a corporation , group or intermediary.
DeFi's growth has been one among the most important stories in cryptocurrency for the past 18 months. As an alternate to the normal economic system , Defi protocols are going after new customers without access to the bank, mainly in emerging countries.
Meanwhile, scared of losing their monopoly on the economic system , regulators still curb the adoption of cryptocurrencies.
However, this doesn't appear to be a significant issue for the Celo token, which in one week has risen by 85.5%, consistent with CoinGoLive. After the jump to US$11, the token is traded again at around US$5.74.
Cell Price Chart
Price Chart for Celo (CELO)/TetherUS, 1D, Binance – Source: Tradingview.com
Interest in Defi makes the Celo token go up
Celo (CELO) may be a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. thereto end, a consortium of Defi companies announced on Monday (30) the “DeFi for the People” – a collaborative project that aims to introduce and include to the earth DeFi the 6 billion smartphone users across the planet.
Built in Celo, the new initiative has Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap and Moola Market among its founding partners. Education and infrastructure partners include Chainlink, RabbitHole, The Graph and Wrapped.com.
Celo, Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap, Moola Market, Chainlink, RabbitHole, The Graph and Wrapped.com being a part of the project - Defi for the people
Celo, Aave, Curve, Sushi, PoolTogether, 0x, UMA, Valora, Ubeswap, Moola Market, Chainlink, RabbitHole, The Graph and Wrapped.com being a part of the project – Defi for the people
On the day this project was announced, the Celo token reached a high of 164% in at some point , trading at around $10. Although the worth has returned to the $5.74 range, the sudden jump reflects the expectations of the investors on the Defi market, which seeks to incorporate the 6 billion smartphone users across the earth within the DeFi world.
Decentralized solution for population without access to a bank
The DeFi market has seen explosive growth in recent years, but there's still many territory to explore. Of the approximately 5 million people worldwide currently using DeFi apps, but 10% live outside developed countries.
For this reason, if the “Defi for the People” project manages to form decentralized financial investments more accessible to the population of emerging countries, it's expected that the Defi market and, during this specific case, the CELO token will still rise in value and adoption .
According to the planet Bank, an estimated 1.7 billion adults worldwide didn't have a checking account in 2017. The gas limit, contract executions per block, was defined during a coordination effort between the miners and developers of the most Ethereum customer. The EGL, consistent with opponents, encourages miners to sell control to the “market”.
According to commentator Hasu, the project may be a direct consequence of the “merger [of ETH] into the PoS system that takes revenue faraway from miners and changes their long-term incentives
In China, for instance , there are still 224 million people without a checking account . In India, that number is 191 million, while in Pakistan the index is below 100 million. The three occupy the highest positions within the unbanked ranking. In Brazil, which occupies the 9th place, the amount of unbanked people is 48.4 million people.
For billions of individuals , the telephone is that the most vital device and sometimes the sole Internet access. Therefore, this race by Defi companies after debanked customers is sensible . If they're ready to offer a far better service than traditional banks, more people will cash in of the technology that has made finance decentralized
