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Binance Survey Reveals Nearly Half of its Users Rely on Crypto to Earn Extra Income

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DUBAI, UAE, Dec. 14, 2023 /PRNewswire/ — Binance, the leading blockchain ecosystem behind the world’s largest crypto exchange by trading volume, today revealed its users’ top uses for crypto. In light of its campaign highlighting user stories, “Crypto is better with Binance,” and efforts to highlight real-life use cases of crypto around the world, Binance administered a survey to better understand its users’ motivations and reasons for using digital assets.

Drawing on a sample of over 1,000 respondents, the survey found that nearly half (45%) listed earning extra income as their primary use for crypto, followed by saving money (19%) and offsetting inflation (9%). More than a third (36%) of respondents indicated that achieving financial security and independence was the primary motivation for using crypto for savings.

Aman from Asia, featured in Binance’s content series, discusses how the rising inflation in his country added increasing pressure on his ability to pay his university fees. He talks about how he used crypto to maintain the value of his savings from being impacted and started using crypto savings products to increase his capital.

“I started using Binance Earn products which helped me to accrue interest on my assets, with far better rates than my bank account. It gave me the opportunity to make my own decisions – to stabilize my finances. I can’t think of anything more empowering,” said Aman.

More than a third of respondents shared that high fees (19%) and slow transaction times (14%) were the largest challenges when dealing with traditional financial systems and services.

Lauri, a Binance user, shared, “I’m a digital nomad and constantly traveling, so Binance Pay has been a game-changer. I had to plan days ahead if I wanted to send money home, and it was expensive. I can transfer crypto through Binance Pay and it’s there in like two minutes with barely any fees.”

Other Key Findings from the Survey:

  • Financial Equality: The bulk of respondents (76%) indicated that crypto can play a role in reducing income inequality or financial disparities within society. It reduces the reliance on traditional financial institutions (19%), is transparent and secure (18%), provides financial access to the underbanked and unbanked (17%), enables cross-border transactions without intermediaries (16%), and offers greater control over their assets and investments (16%).
  • Crypto for Earning Extra Income: Among respondents whose primary use for crypto is for earning extra income, 23% percent indicated that their goal was to supplement their primary income, with another 23% using it to save for a home and 21% for investing in other digital assets.
  • Crypto for Everyday Purchases: Over a third (36%) of respondents use crypto for purchases on a weekly basis, with more than half (58%) of them using crypto for online purchases, including the purchase of goods, services, digital products, followed by 12% who use it for international transactions and remittances, and another 12% for in-store purchases.
  • Crypto Natives: The majority are not new to crypto with 59% of respondents using crypto for 1-5 years, 14% for more than five years, and 12% are new to crypto (having used it for less than 6 months).
  • Crypto for Savings: 36% use crypto to save money as it offers financial security and independence, 16% for earning better interest on their savings, and 14% for saving for retirement.
  • Impact of Crypto: Respondents shared how crypto has positively impacted their lives with 20% reporting that it increased their investment portfolio value, 18% stating that they were provided opportunities to earn additional income through trading or staking, 15% being able to access greater financial services, 14% enhancing their financial control, and 12% benefiting from faster and cheaper cross-border transactions.

About the Survey

The survey results are based on a total sample of 1,172 individuals. The survey was conducted from November 15, 2023 to December 6, 2023 on the Binance Survey platform, and was open to users registered in Asia & Pacific, the Middle East, Europe, Africa and Latin America.

About Binance

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com

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Shanghai’s Lujiazui adds 5 global asset management institutions

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SHANGHAI, March 5, 2024 /PRNewswire/ — Five global asset management institutions, including Aspect Capital and Schroders Capital, have signed agreements to settle in Shanghai’s Lujiazui Financial City, said local authorities.

According to Xiao Jian, head of Lujiazui administration bureau under the China (Shanghai) Pilot Free Trade Zone, Lujiazui Financial City has so far attracted more than 8,000 financial institutions.

Lujiazui has become an important cluster for global asset management institutions in China. It now boasts about 80 percent of foreign-funded asset management institutions, 40 percent of foreign-funded corporate banks, nearly one-third of public fund management companies, and nearly one quarter of insurance asset management institutions of the total in the country, Xiao said.

More than 80 world-renowned financial institutions from 13 countries have established over 120 foreign asset management institutions in Lujiazui.  

“Lujiazui is an important gathering place and business expansion place for global asset management institutions in China. We are very honored to have the opportunity to join the Global Asset Management Partner Program. We also hope that through this signing, we can contribute to building Lujiazui into the core area of a global asset management center and accelerating Shanghai’s entry into the forefront of global asset management center cities,” Li You, Chief Compliance Officer of Aspect Capital (China) Limited.

Shanghai has made a great stride in pushing for financial openness and attracting more global financial institutions and investors. The next step could be to take advantage the special status of Shanghai Free Trade Zone and Lingang special area to develop an off-shore financial system, adopting the most advanced financial business models and regulatory regimes,” said Yan Hong, professor of finance of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University.

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LAMPRO International Distributor Summit: A Feast of Gathering and Future Prospect

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-Focus On Pro, Pro For Mate

HUIZHOU, China, March 5, 2024 /PRNewswire/ — On March 2-3, right on the 20th anniversary of the establishment of LAMPRO, the International Distributor Summit was successfully concluded in Huizhou. With the theme of “Focus On Pro, Pro For Mate”, the summit attracted more than 200 partners from all over the world, sharing the industry trend and advanced leading technology. During the summit, LAMPRO held an appreciation award ceremony and signing ceremony as well for partners to co-build a partnership system and create a brighter future together.

At the summit, Sichuan opera performances, band shows, and other entertainment sessions created a warm and comfortable homey vibe, so that every guest fully enjoyed the process. One of our partners even took the initiative to sing on stage.

To share business opportunities with partners and demonstrate the vision of prosperous development, LAMPRO has elaborately planned the “Tree of Dreams” launching ceremony and the 20th-anniversary sand painting video. In the beginning, Chairman Tiger Lin thanked all partners for choosing Unilumin and LAMPRO, and he emphasized, “It is vital to choose the right brand and bind with it, which will help you become an outstanding leader locally.” Afterwards, Mr. Lawrence Liu, General Manager of LAMPRO, shared the development strategy of LAMPRO partner system. The project director introduced and demonstrated LMini and other major product series in details, which greatly boosted the confidence of global partners.

Furthermore, to thank partners for their support and seek mutual development, LAMPRO also held an awarding session, a signing ceremony, and a visiting journey to the Daya Bay intelligent manufacturing base on March 3, which demonstrated the industry-leading intelligent manufacturing capabilities of LAMPRO and high quality of products. LAMPRO sincerely expects to establish a closer cooperative relationship with global partners. Partners said that they gained valuable friendship and cooperation opportunities at the summit, and highly recognized the manufacturing strength and product capability of LAMPRO.

Meanwhile, elaborately arranged lucky draws pushed the atmosphere to a culmination, in which prizes included electronic equipment of well-known brands. At the end of the dinner party, LAMPRO prepared unique souvenirs, including the 20th-anniversary mascot of LAMPRO, hoping to leave an unforgettable impression on every guest.

Looking ahead, we expect to share greater joys of success with more partners in subsequent distributor summits, create a bright future and display a better world together.

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Aptoide launches campaign for a truly open digital market with new DMA website

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LISBON, Portugal, March 5, 2024 /PRNewswire/ — Aptoide, the pioneer in global alternative Android app distribution, has launched a new campaign website, Leveling the game, including an Open Letter from the Aptoide founders, to demand full compliance from gatekeepers with the EU’s Digital Markets Act (DMA) and to urge regulators to take further action against anti-competitive practices by digital gatekeepers. Since 2011, Aptoide has been a vocal advocate for fair competition in the mobile app market, consistently challenging the market dominance of tech giants like Google.

 

With the March 2024 deadline for complete DMA compliance from gatekeepers set for this week, Aptoide sees this as a critical juncture for achieving true fairness in digital markets. However, the company also points out that significant obstacles remain, particularly with Apple’s recent DMA-related proposals, which include the introduction of a Core Technology Fee (CTF) and restrictive terms that limit developers’ access to alternative platforms.

“Aptoide has always advocated for a digital marketplace where innovation thrives and fairness reigns”, said Paulo Trezentos, Aptoide’s CEO and co-founder. “The DMA is a landmark step in that direction, but it’s clear that some tech gatekeepers are reluctant to let go of their stranglehold on the mobile industry. We must continue to push for reforms that will truly level the playing field”.

Aptoide argues that Apple’s proposed changes mostly serve to preserve its market dominance rather than to foster genuine competition, maintaining control by imposing disproportionate fees on alternative app stores and discouraging users from exploring non-Apple ecosystems through complex installation processes and misleading warnings.

Álvaro Pinto, co-founder and COO of Aptoide, added, “We’re at a crucial moment where the actions of regulators will determine the future of digital markets. Apple’s half-hearted reforms under the DMA are simply not enough. We need to ensure that the spirit of the DMA is not lost in loopholes and half-measures”.

In response to these challenges, Aptoide calls on EU authorities to hold Apple accountable and to demand that they:

  • Eliminate or significantly reduce the CTF to reflect actual costs.
  • Offer developers the freedom to choose between distribution models without restrictions.
  • Simplify the app installation process for a better user experience.
  • Apply the CTF fairly across all market participants.
  • Remove misleading warnings about alternative payment systems.
  • Ensure the confidentiality of data from competing marketplaces.

Aptoide believes that real competition can only emerge if the EU takes decisive action to enforce open market principles, leading to a digital marketplace that values fairness and innovation. And that the fight for an open digital marketplace is far from over and requires a united front. That’s why the company urges developers, consumers and regulators to join in demanding more from both Apple and Google.

Aptoide invites all stakeholders to visit their new DMA advocacy landing page, Leveling the game, to learn more about the ongoing struggle for an open digital world and to join the movement against the outdated monopolistic tactics of dominant gatekeepers.

Read the Aptoide Founders’ Open Letter about the DMA and what we need for real digital freedom here:

Open Letter from the Aptoide Founders

About Aptoide

Aptoide is a game-changing app distribution and payment processing platform, with over 430 million users, 10 billion downloads and 1 million apps. Available on multiple channels including Android, Web, TV and automotive, Aptoide offers developers a trusted, experienced partnership with a deep understanding of all ecosystems.

Please contact: press@aptoide.com 

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