A new survey is in the daily cryptocurrency news, mostly because of its findings which show that even 60% of the respondents based in the United States think that cryptocurrencies like Bitcoin and other altcoins should be treated like fiat currency in political elections.
According to Clovr, which is the outlet that researched and surveyed 1,023 people, almost 60% of the voters answered that crypto and the US dollar should be treated the same while 21% of them said the very opposite.
“60 percent of eligible voters believed that it should be legal to donate cryptocurrency in federal elections under the same rules that apply to donations in U.S. dollars,” the research showed.
Even 63% of the voters identifying as Republicans said that crypto was secure enough to be deployed for political purposes – while 52% of them said the same. For the Independent voters, only 45% were reportedly comfortable with the donations in crypto.
Moreover, 73% of the respondents who were aware of digital currencies think that security was not an issue for political donations, while 23% expressed their concerns. When asked about their financial stability issues with crypto in politics, more than half of the Republicans (52%) said that crypto was stable enough, while the Democrats and Independents were 40% and 35% sure in that, respectively.
To sum things up, even 60% of the respondents said that crypto in political campaigns would increase the foreign interference in the US elections, where Democrats showed more concern than the other groups.
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“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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