Cryptos Are Stabilizing: Fallout Will Bolster Cryptos | CryptoCurrencyWire on The Wild West Crypto Show | Episode 104
Apr 10th, 2020
The Wild West Crypto Show continues to give the lowdown on the crypto markets – and much more. During episode 104, titled ‘Cryptos Are Stabilizing: Fallout Will Bolster Cryptos’, hosts Drew Taylor and Brent Bates discussed new developments in the space and the results of two recent surveys that reveal what people think of cryptocurrencies and other asset classes.
For his weekly update, Jonathan Keim, communications director of CryptoCurrencyWire, provided his usual three newsbreaks.
Crypto users will be happy to know that Civic Technologies, a leading innovator in digital wallet solutions, has launched the first and only noncustodial crypto wallet to offer a $1 million digital currency guarantee provided by Coincover (http://ccw.fm/D8ta6). Coincover, a provider of risk-management solutions, offers policies that protect cryptocurrencies held in online wallets against theft from hacks. The policies will be underwritten by the Lloyd’s of London insurance syndicate, Atrium.
A survey conducted by Visual Objects showed that people’s perceptions of how cryptocurrencies are used vary considerably from actual usage (http://ccw.fm/sy3Jm). Survey participants think that cryptocurrencies are mostly employed to purchase stocks (40%) and illegal items (30%), but actual cryptocurrency consumers say their purchases go primarily to food (38%) and clothing (34%), while 29% of respondents reported that they used cryptocurrencies primarily to buy stocks.
A separate survey revealed what asset classes Americans think are the safest for a retirement account (http://ccw.fm/33bpW). Naturally, cash topped the list, with one-third of all participants indicating that they viewed cash as the safest investment during uncertain times. Gold and silver were viewed as the safest by close to 17% of those surveyed, while stocks and bonds were chosen by 15.1% of participants. Just 1% of those sampled chose crypto assets. Based on those results, faith in crypto remains very low amongst the broader population.