CEO Binance.US: USA is lagging behind on crypto adoption
Binance.U.S. CEO Catherine Coley commented on the state of Bitcoin’s adoption and crypto in the US. She noted that the United States was usually seen as a world leader in innovation and entrepreneurship. However, they are now lagging behind when it comes to adopting digital currencies in the market.
CEO Binance.US: adoption is low
While there are reportedly many cryptic enthusiasts in the U.S., Coley claims that the adoption is pitifully low:
“While 55 percent of Americans own shares, only about 6 percent own Bitcoins. In addition, an overwhelming 68 percent of Americans say they don’t own or plan to buy Bitcoins in the future. That’s about 200 million people rejecting Bitcoin before they even gave it a chance.
She thinks the media are to blame. Mainstream associates cryptoes with criminals and terrorists. There are no BTC-related positives.
“What’s more, the media are constantly avoiding the fact that people paid for illegal and immoral products and services from the beginning, only using cash.”
– she added.
Coley stresses that this is a great pity, as equity investors could also benefit from diversification of their portfolios if they looked at BTC differently.
A long way behind us, but also ahead of us
She added that Bitcoin has come a long way. In the beginning, knowledge about him was limited to people who know how to encode and encrypt. Nowadays, every day Americans can buy cryptocurrencies using a debit card, but “this development only happened in the last year.
Coley went on to say that the US needs clearer regulations and more open supporters to educate and share their experiences.
However, adoption in the US is slowly beginning to grow. Last year, the number of Americans with any crypto nearly doubled from 7.95 percent in 2018 to 14.4 percent in 2019. – This is an increase of 81% in one year.
Coley says that Binance.U.S. started by meeting the needs of the U.S. community and ultimately achieved “impressive” results. She added that her company was successful, but suggests that this is by the fact that she understands the nuances of the US market.