45% of Binance Users Are New to Crypto, Survey Shows Growing Interest
Binance recently conducted a user survey revealing that nearly half of its respondents—45%—entered the cryptocurrency market in 2024.
The survey, which gathered insights from over 27,000 participants across six continents, provides interesting findings despite being limited to Binance’s user base.
The survey highlighted the motivations driving these new entrants. The primary reason for joining was the potential for rapid asset appreciation, cited by 22.4% of respondents. Following closely were decentralization and financial independence, factors that influenced 18.78% of participants. Additionally, 17.16% emphasized the convenience and speed of transactions as major draws.
Interestingly, while crypto has long been lauded as a store of value, this concept did not seem to resonate with the new users surveyed. Around 44% of respondents had less than 10% of their total assets invested in crypto, indicating limited exposure to the market.
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The survey also revealed optimism for the future. Nearly 20% of respondents anticipate favorable crypto regulations in 2025, while over 16% expect increased involvement from traditional financial institutions. There’s also anticipation for blockchain technology to gain wider adoption.
However, the survey results did show a few inconsistencies when compared to broader crypto trends. Meme coins emerged as the most popular assets among Binance users, even surpassing Ethereum and BNB in holdings. Despite the overall decline in meme coin momentum, many participants still believed these tokens would dominate the market in the coming year.
While the survey provided valuable insights, it’s important to note its limitations. The data does not fully represent the global crypto market, as users from the U.S. were excluded due to ongoing legal challenges faced by Binance in the country. Nonetheless, the survey offers a glimpse into the expanding base of cryptocurrency enthusiasts and their evolving priorities.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
