About ten years ago, shortly after the onset of the financial crisis, Satoshi Nakamoto published a paper on a new digital currency called Bitcoin. Ten years later, YouGov researched how much the British know about the cryptocurrency, how many have bought it, and what opportunities currency has, according to the British, controlled by the people themselves rather than a central institution.
Almost every Briton has heard of Bitcoin
The results of the survey show that almost every Brit is familiar with the term “Bitcoin”. 93 percent said they heard about the virtual currency. However, less than every twentieth (4%) think Bitcoin is “very good”. The following infographic shows that men feel almost three times as likely as women to understand how Bitcoin works.
Who buys Bitcoin?
Although the vast majority of Britons have already heard of Bitcoin, relatively few have started to buy the currency.
Less than every twentieth (4%) claims to have bought Bitcoin, with individuals predominantly young men: 6% of men said they had bought Bitcoin compared to 1% of women. In addition, one in eleven (9%) aged between 18 and 24 years said they had bought the cryptocurrency, compared to 1% of the over 55s.
Considering the role of cryptocurrencies in the financial system more generally, every fifth Briton (21%) thinks Bitcoin and cryptocurrency will someday be as common as cash and card.
However, four out of ten Britons (43%) are more skeptical and do not believe that cryptocurrencies have the same status as other payment methods in society.
What does it look like with the Germans?
A few days ago, the Verbraucherzentrale Hessen published the results of a representative survey on Bitcoin.
While 93% of Britons said that they could use the term “bitcoin”, only 55% of Germans knew the term “cryptocurrency” – “but only one in three can declare cryptocurrencies according to their own statements.”
Among those who know cryptocurrencies, the readiness to invest was asked: For every tenth of a purchase is conceivable (11%), another 11% are undecided and 77% can not imagine buying crypto currencies.
Image by Shutterstock
Virtual currency is in many countries not legal tender, or is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.
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