TECHNOLOGY

Study: More Americans Willing To Receive Cryptocurrency Rewards

May 19, 2021, 2:35 PM | Updated: 2:48 pm

SALT LAKE CITY, Utah – Tesla founder Elon Musk’s recent appearance on Saturday Night Live brought up a lot of questions about the origin of cryptocurrency and even our own understanding about how money works in the first place.

“This is as mainstream as it gets. Almost everybody is familiar with them but what they think cryptocurrencies are for, that’s when it starts to vary,” said Andrew Gretchko with rewards and cashback website Coupon Cabin.

Gretchko said they just conducted a survey and more than 30% of respondents told them crypto is the future of money and innovation.

Even if they don’t understand how it works, people want cryptocurrency available as part of an online rewards program.

“It looks like people are starting to kind of turn the corner and 44% say they would be willing to receive those rewards in cryptocurrency,” he said.

And American’s attitudes toward cryptocurrency are changing as companies begin accepting digital money just like regular digital money backed by central banks and governments.

BitCoin might be the one cryptocurrency everyone talks about, but 6,700 cryptocurrencies can be publicly traded, making the question of the currency’s future that much more confusing

So if you want to get in on the financial frenzy different sites like Tech Republic and The College Investor offer these as the best apps for the novice cryptocurrency trader:

Binance boasts the largest number of trades while CoinBase claims to have bank-level security for your transactions.

RobinHood is well known by this point for its investing platform, which includes cryptocurrency.

SoFi has more traditional banking operations, stocks and crypto, and rounding out the top five would be Gemini.

These apps require anywhere from a dollar to $50 as part of the initial investment opening an account

Values of cryptocurrencies go up and down just like stocks, sometimes after a tweet from Elon Musk and some come into existence as a joke, as Dogecoin did.

You can buy, sell and trade this digital piece of cyberspace, but there’s always a risk involved.

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Study: More Americans Willing To Receive Cryptocurrency Rewards