UK: 34% residents hail Bitcoins future as an online payment method

Friday 16 May 2014 11:50 CET | News

34% of UK residents consider Bitcoin as the future trend for online payments, whereas 32% think it is secure and will not lose its value, according to a report issued by

Around 1/5 of the inhabitants has used it to purchase goods online, with online gaming at 22%, followed by clothing with 19%, and electrics with 17%.

Research shows that the population aged 18-34 were the major part of users of Bitcoin with 67%, and the majority (29%) owning between GBP 50-GBP 100 worth of the cryptocurrency.

The nation’s biggest Bitcoin users are from Sheffield 27%, London 25%, Edinburgh 22%, Newcastle 21%, Norwich 18%, Nottingham 17%, Southampton 14%, Manchester 14% Birmingham 14% and Glasgow 13%. The study also mentions that more than three quarters (78%) of British consumers prefer this payment method for purchases of GBP 10 or less.

The report is based on a sample of 500 people who are aware of Bitcoin in the UK.

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Keywords: UK, Bitcoin, online payment method, online shopping, digital currency, cypto-currency
Categories: Payments & Commerce
Countries: World
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