US: Millennials and the wealthy most likely Bitcoin users - survey

Monday 3 November 2014 14:21 CET | News

Millennials and the prosperous are estimated to become the driving force behind Bitcoin mainstream adoption in the near future, according to recent findings reported by

Around 8% of the surveyed citizens admitted to being users of the digital currency and 18% stated they could use cryptocurrencies by 2020, according to intelligence coming from technology research firm Accenture.

Individuals in the millennial generation, corresponding roughly to individuals between the ages of 18 and 34, reported more enthusiasm for digital currency than the overall survey group. 13% of respondents in that category reported that they already use digital currencies on a daily basis, and 26% said that they would likely use them in the future.

Of consumers most likely to use digital currencies, both today and in the future, wealthy respondents showed the most enthusiasm: 19% of affluent participants use digital currencies today and 32% said that they expect to use them by 2020.

Additionally, consumers see the cost, security and privacy benefits of digital currency, although there are not any guarantee to its success.

36% of respondents said that the anonymity and transaction protections offered by digital currencies are the most attractive characteristics of the technology. 21% cited low-cost transactions as a major benefit, and 20% said that the lack of a central government or regulatory body made them interested in digital currencies.

Consumers also highlighted the ability to send transfers across borders cheaply and the fact that digital currency transactions are irreversible, with 15% and 7% of the group citing those advantages, respectively.

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Keywords: US, Millennials, young generation, Bitcoin, digital currency, wealthy, users, online transactions, Mainstream, adoption
Categories: DeFi & Crypto & Web3
Countries: World
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