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New eToro Survey Reveals Strong Interest in Cryptoasset Education, Despite Market Downturn

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cryptoasset education

NEW YORK, NY — December 18, 2018 — A new survey from eToro U.S., a leading global investment platform, finds that despite a clear interest in investing in cryptoassets, education is the key barrier preventing online investors from purchasing the asset. Of all online investors — including those who do or do not currently invest in cryptoassets — 69 percent of respondents were interested or very interested in learning about it.

However, the nationwide survey of 1,000 online investors found that proficiency in the cryptoasset class is still low. Three-quarters of those who do not hold the asset class state that they are not knowledgeable about cryptoassets. Even among investors who do invest in cryptoassets, over one-fifth of respondents feel that their understanding is lacking.

eToro LogoGuy Hirsch, U.S. managing director, eToro, says: “Late 2018 has seen the cryptocurrency market take a huge tumble, but that has not stymied investors’ interest in the asset class and its potential. Online investors are still keeping their eye on cryptocurrencies, but this survey revealed that there is a serious lack of educational resources available to those who would like to invest in or learn more about crypto. As we move toward a future where assets will become increasingly tokenized, it’s important to give investors access to the resources they need to invest in the assets they want and truly consider cryptoassets as part of their long-term investment plan.”

Professional Crypto Education is Severely Lacking

Across the board, education is a key barrier preventing people from investing in cryptocurrency. Almost half (44 percent) of online investors state that education is the main reason for not trading crypto. This is true even among Millennials, who are more knowledgeable about the asset class than other generations. Forty percent of Millennials who do not invest in cryptoassets say that the lack of education is the main reason they do not invest.

Currently, there are limited resources when it comes to learning about cryptoassets. Investors who are invested in crypto mostly lean on observing their online trading platform (67 percent) and social media (43 percent) for guidance. Among social media channels, YouTube and online crypto chat forums are most used. When it comes to approach, those who currently invest, plan to invest or are interested in investing identified the following top three approaches to learning more about investing in crypto:

  • Start with a low amount of investment to test out the market (92 percent interested or very interested)

  • Watch an experienced trader to mimic their portfolio or trading patterns (85 percent interested or very interested)

  • Research cryptoassets using online channels (82 percent interested or very interested)

Despite the lack of knowledge and resources, 97 percent of both Millennial and Gen X crypto-traders are interested in learning more about cryptoassets, presenting a big opportunity to provide more formal training and structured resources.

Women Trade Crypto Less Than Men, But Not for Lack of Interest

blockchain startupsAcross all groups of online investors who do not currently invest in cryptoassets, the top three barriers to participating in the asset class are consistent: price volatility, fear of scams, and lack of education or knowledge. However, the top reason for not trading differed significantly between men and women.

While men identified price volatility as the top barrier to trading crypto (41 percent), over half (51 percent) of women identified the lack of education or knowledge as the top reason for not trading. For women, the lack of educational resources is significantly more likely to affect whether they will take advantage of the asset class than men (39 percent).

While female investors are more likely to state that they are not well-versed in cryptocurrency trading (76  percent vs. 54 percent male), this doesn’t mean that women are less interested in learning about digital currencies. Of those who do not trade crypto, men and women are equally interested in learning about it — 61 percent of both genders were interested or very interested in more education.

Hirsch continues: “The investment gap between men and women is still quite stark. There are many studies that indicate this, and we are beginning to see companies provide more financial services tailored specifically for women. With cryptoassets, we need to begin closing the gap now by providing education and resources so more women feel comfortable tapping into the asset class while it is still in its relative infancy.”

Desire for Financial Advice in Cryptoassets

When it comes to financial advice, Millennials are more likely than Gen X or Boomer online investors to also make use of financial advisors. While 19 percent of Millennials planned on using a financial advisor to buy or sell products such as stocks, ETFs, or cryptoassets, only 11 percent of Gen X and 12 percent of Boomers indicated the same. Looking six months into the future indicates similar results. Twenty three percent of Millennials plan on using more resources such as financial advisors compared to only 14 percent of Gen X.

The results were even more apparent for those who currently do not plan on investing in crypto. Seventy three percent of Millennial investors would be significantly more likely to invest in crypto if advised by a financial advisor, compared to 58 percent of Gen X and 49 percent of Boomers.

Hirsch concludes: “It’s very encouraging to see that Millennials are in favor of using financial advisors. This makes sense as the top of the Millennial generation is approaching 40 and is starting to accumulate significant amount of wealth and are looking at their investments over the long term. Financial advisors have a lot of opportunity to tap into crypto as an asset class. There is clearly a demand — especially among Millennials — to include cryptoassets as part of a long-term investment strategy.”

About the Survey

eToro commissioned Provoke Insights, an independent market research and strategy firm, to conduct an online survey among 1,000 online investors. The sample matched the U.S. Census for geography and age (20-65), to get an accurate depiction of the online trading community. To garner a sufficient number of cryptocurrency traders, the research oversampled cryptocurrency by 285 respondents. The survey was distributed in September of 2018.

Statistical differences between subgroups were tested at a 90% confidence level. Margin of error is +/- 3%.

Disclaimer: Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Cryptocurrency Exchange Quidax Partners With Flutterwave

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Quidax Partners With Flutterwave

Africa’s first user-focused cryptocurrency exchange, Quidax, has partnered with Flutterwave to enable users of Flutterwave’s GetBarter fund their Quidax wallet easily. As part of the partnership, Quidax will give 2,000 naira to new and existing users of GetBarter who use the ‘pay with barter’ option when funding their Quidax wallet with a minimum of N5,000 from 19th March to 15th April 2019.

QuidaxAccording to Wole Ayodele, Head of Business Development at Quidax, this partnership is very exciting for both organizations as it combines Flutterwave’s GetBarter – which makes it easy for people to manage their finances and make payments – as well as Quidax’s seamless cryptocurrency exchange. “Our goal is to simplify access to cryptocurrency in Africa and this partnership helps achieves that”, he went on to say.

When asked why it was important to simplify access to cryptocurrency, Mr. Ayodele stated that the time is here to push for a flatter world with finance. He added that adoption of cryptocurrency has multiplier effects for businesses and the GDP of countries, bitcoin is just the beginning.

In February,  JP Morgan, one of the 10 biggest banks in the world launched its own cryptocurrency, the JPM coin, which is designed for business-to-business money movement flows. JP Morgan had stated that they were running a pilot which would include a total of 27 million accounts.

Also in February, the New York Times revealed that Facebook and Telegram are working on launching new cryptocurrencies that would enable people to send money to contacts on their messaging systems.

Quidax provides a seamless platform for users to send, receive, buy and sell cryptocurrency using their local currencies.

Founded in 2016, Flutterwave is a global payments solutions platform for companies all over the world to accept payments from customers on the African continent and abroad. It allows clients to access their APIs and work with Flutterwave developers to customise payments applications.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Announcing the 3rd Lagos Blockchain, AI and Digital Assets Conference 2019

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Lagos Blockchain AI and Digital Assets Conference

Nigeria’s premium Blockchain Conference of Value and Innovation, annually organised and curated by Blockchain Nigeria User Group, is on its 7th leg, returning to Lagos for the 3rd consecutive season, bigger, stronger and better.

Africa is home to 16.3 percent of humanity but home to less than 1 percent of the world’s billion-dollar companies and only about 4 percent of global GDP. Africa cannot afford, nor does it have to miss the possibilities of the fourth Industrial Revolution (4RI) to better her lot.

At the upcoming #LagosBlockchain2019, attendees will discover how Blockchain, Artificial Intelligence (AI), IoT, Big Data and Virtual Financial Assets are altering and disrupting incumbents and creating new opportunities for forwarding thinking individuals.

Lagos Blockchain AI and Digital Assets ConferenceWe have planned supper interactive panel discussion segments around the technologies of the fourth industrial revolution to provide every attendee with actionable insights that can be applied immediately to accelerate progress in any chosen career path.

Dr. Isa Ali Ibrahim Pantami PhD, Director-General/ CEO National Information Technology Development Agency (NITDA) is expected as guest of honor.

Mr. Andrew Nevin, Chief Economist at PWC will deliver a Keynote on “How Blockchain, AI Digital Virtual Financial Assets and other technologies of the 4IR could drive economic advancement across Africa”.

There will be panel session on “Blockchain, AI, Virtual Financial Assets and the Future of Work in Africa”, “Possibilities of Virtual Financial Assets Taxation in Nigeria” – Akeem Ogunseni, Senior Manager Tax Services at EY.

Other subject matter experts and professionals expected at the conference include Boye Ademola, Partner Technology Advisory & Digital Transformation Lead at KPMG Advisory Services, Wole Oyeniran, Enterprise Platforms/  Systems Integration Leader, West Africa at Deloitte Consulting, Dr. Segun Aina, Chairman Fintech Associates/ President Fintech Association of Nigeria, Shamim Khan, Esq. Director, Lex Futurus (UK) Blockchain Regtech & Law Limited and Ian Friend, Cofounder/ COO Ferrum Network, NYC, among many others.

The conference will feature a melding of the AI and Blockchain/Virtual Financial Assets communities in Nigeria and across the world, exploring the possibilities at the intersection of these technologies. The Conference will bring together business leaders, government and regulatory agencies, data practitioners, AI and Blockchain tech pioneers who are applying artificial intelligence to solve today’s problems and creating tomorrow’s opportunities, while leveraging available tools, to create entirely new values.

About 1000 participants are expected to be at the two-day event.

We aim to bridge the knowledge gap by providing government functionaries, decision-makers, professionals and practitioners with the resources they need to make key business-shaping decisions in a rapidly changing world.

For Sponsorships, Partnerships and Exhibition opportunities, please download the conference brochure at http://blockchainnigeria.group/2019%20brochure1.pdf

Blockchain Nigeria User Group is a pioneer group of enthusiast, developers and industry practitioners championing the adoption of Blockchain technology through education across Nigeria and Sub-Saharan Africa. Since 2016, the group has held about six conferences in Lagos, Abuja and Port Harcourt, connected over 5000 attendees/ enthusiasts and spurred waves of startups in the ecosystem. 

Registration page: https://www.eventbrite.com/e/blockchain-ai-digital-assets-conference-2019-tickets-56327784921

Group website: http://blockchainnigeria.group

Contact Email: info@blockchainnigeria.group

Contact Telephone: +2348165430776

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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First Blockchain Educational Institution in Eastern Africa Funtrench Partners with Blockchain Training Alliance to Promote Adoption of Emerging Technologies in Kenya

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Funtrench Partners with Blockchain Training Alliance

March 6, 2019, Nairobi, KENYA – Funtrench, the first blockchain educational institution in Eastern Africa, has today announced a strategic partnership with US-based blockchain certification company, Blockchain Training Alliance (BTA). The goal of the partnership is to boost Funtrench’s position in building an ecosystem of emerging technologies in Africa. This partnership puts Kenya as one of the African countries besides South Africa and Nigeria where BTA accredited blockchain courses are offered.

The collaboration with BTA will enable Funtrench to offer a wider range of certified blockchain-related courses in Kenya and to create a talent pool of individuals that are savvy in industry 4.0 technologies.

FuntrechMaking the announcement during the company launch at the Movenpick Hotel in Nairobi, Kingsley Ndiewo, CEO Funtrench Ltd said: “Funtrench is not just a business; Funtrench is a revolution. We are happy to be officially launching our company ten months after opening our blockchain campus in Parklands, Nairobi. Moreover, we are grateful that we have been nominated for the 2019 Katerva Award in human development. Our idea of a talent ecosystem is somewhat similar to the Japanese keiretsu whose interlocking parts establish a self-sustaining system. We, therefore, believe that collaboration works better than competing. That is why we are striving to partner with institutions like BTA.”

Chad Decker, CEO Blockchain Training Alliance asserted: “Our strategic partnership with Funtrench was ignited through their passion for education. Funtrench is nominated for the 2019 Katerva Award in Human Development, recognising Funtrench’s goal of global sustainability for the Kenyan workforce. We are delighted to collaborate with Funtrench and look forward to achieving our joint goals in helping to bring immense value to individuals and companies.”

Funtrench focuses on practical training where learners are instilled with skills to build solutions based on emerging technologies that address African problems. To this end, Funtrench has joined hands with Nairobi-based tertiary institution Oshwal College and Kenyan NGO AkiraChix to offer courses in blockchain foundation, blockchain developer, Python programming, and game development.

Speaking during the launch, Hon Michael Onyango, a member of Kenya’s Blockchain and AI taskforce observed: “The advent of emerging technologies continues to disrupt global trade, labor markets, and our local informal sector. The fourth industrial revolution is driven by emerging technologies that are totally dependent on skilled knowledgeable human resource. Today’s formal launch of Funtrench’s services coinciding with their nomination for the 2019 Katerva Award in Human Development, is a clear sign that Funtrench has positioned Africa’s place as a homegrown African agenda at par with global industry standards within the development of local talent and the development of startups within emerging technologies.”

Funtrench is set to roll out machine learning and augmented reality courses in the near future to further promote the adoption of emerging technologies in Africa and beyond.

Disclaimer: Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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