Four in ten consumers have invested in crypto, study says

Friday 28 May 2021 14:35 CET | News

38% of respondents of a UK study said they had either invested in or bought a cryptocurrency, and 84% said they had heard of at least one cryptocurrency, with 64% recognising Bitcoin.

UK-based Skrill, a digital payments brand which is part of Paysafe, has released the results of a consumer survey, which uncover several trends on the rising popularity and adoption of cryptocurrency. 

Of consumers polled for the survey, carried out between March and April 2021 by Sapio Research in the US, UK, Canada, Germany, Italy, Austria, and Bulgaria, 20% said they owned Bitcoin now or had done in the past. Ownership climbs higher in the US (24%) and Bulgaria (36%).

Consumers’ knowledge and understanding of cryptocurrencies as a financial asset appears sharply divided, with 47% agreeing or strongly agreeing that they don’t know enough about them for use or investment, while 38% considered them too risky for investment overall. However, 28% already believe that cryptocurrencies are a good investment for the future.

That said, consumer understanding appears to be trending higher. Almost a third (29%) of respondents said they know more now about cryptocurrencies than the same time last year, with a quarter (26%) saying they are more likely to invest in cryptocurrencies today compared to 12 months ago.

There was no clear opinion on what makes cryptocurrency useful, with 27% considering them the future of payments, while 26% referred to crypto as a good store of value, and 26% said they are the future of banking. Nonetheless, only 17% said they used crypto for anything other than investment or speculation.

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Keywords: survey, cryptocurrency, crypto asset, Bitcoin
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies