[eMarketer] Striking a balance between crypto trading and environmental conservation
Cryptocurrency continues to enjoy impressive by both retail and institutional investors with 2021 recording record adoption.
eToro hosted 61% more unique Bitcoin holders in January year-on-year while Robinhood Crypto onboarded 6 million customers in the first two months of 2021 according to eMarketer.
However as crypto trading is mainstreamed, there are concerns about their carbon footprint and the environmental implications.
But as cryptos go mainstream, their increasing carbon footprint has led to growing environmental concerns.
Just recently business magnate Elon Musk said that electric car firm Tesla was suspending Bitcoin payments and hinted that the may sell its $1.5 billion worth of Bitcoin holdings. This as investors get keen on sustainability clash with cryptos on protecting the environment with a bulk of crypto trading associated with huge energy consumption.
For fintechs keen on crypto trading and embracing sustainability, the idea is to include trading options for less energy-intensive cryptos to keep leveraging the sector’s user acquisition opportunities while alleviating environmental concerns. Green investing options are key to fintechs securing their growth momentum, according to Insider Intelligence expectations, but getting rid of crypto trading would rob them of significant investor activity.