A new report reveals that crypto exchanges rank as the least trusted financial service for non-crypto users. This finding comes despite growing interest in cryptocurrencies from both existing crypto owners and non-owners.
The report by CoinCover, called Securing the Future of Cryptocurrencies, surveyed over 16,000 people across nine countries. It found high levels of distrust towards crypto exchanges compared to traditional financial institutions.
Crypto Exchanges Less Trusted Than Buy-Now-Pay-Later Services
Among non-crypto users, only 10% said they completely trust crypto exchanges. This compares to 24% who completely trust commercial banks.
Crypto exchanges were even less trusted than buy-now-pay-later services like Klarna, which have been accused of pushing young people into debt with frivolous purchases. Unfortunately for the industry, crypto exchanges like Binance and Coinbase are also less trusted than credit card companies. Institutions that do not exactly have a stellar reputation.

This distrust stems largely from recent instability and
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Author: Josh Adams