Cryptocurrency is Still in Its Wild West Phase, Says Gem App CEO

While the cryptocurrency market saw a breathtaking run-up in 2017, with the number of cryptocurrency proponents experiencing a similar increase, many consumers are still skeptics of this nascent industry.“The Cryptocurrency Space Is In Its Wild West Phase”Cryptocurrencies arguably hit the mainstream last year, as nearly every media outlet covered Bitcoin’s astronomical rise from near-obscurity to $20,000. However, according to a Fortune report, investment into crypto assets has not seen the widespread adoption that crypto advocates would like to see.This sentiment comes via a 2,000-person survey from cryptocurrency app Gem and Harris Insights, which revealed that only 8% of Americans hold a personal stake in cryptocurrencies. Compared to investment adoption in legacy markets, whereas approximately 52% of Americans own stock in publicly-traded firms, the 8% figure seems rather dismal.Moreover, the same survey revealed that 41% of respondents noted that they would never consider investing in digital assets, not the most promising

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