People hear and know more about cryptocurrencies with every passing day, and according to a new survey, interest in Bitcoin is expected to increase twofold in Europe. The poll gauges the awareness of cryptocurrencies and the expectations for their future. The research covers over a dozen European nations, but also the United States and Australia, presenting some unexpected findings.
Also read: Survey: 13% of Net-Savvy Ukrainians Own Cryptocurrencies
Lower Income Countries Know More About Bitcoin
The survey, carried out by Ipsos for the Dutch banking giant ING, reveals how cryptocurrencies such as Bitcoin are perceived in 2018. It does so by interviewing almost 15,000 respondents in 15 European countries, the United States and Australia. The authors aimed to better understand how people around the world spend, save, invest and feel about digital money. They also sought answers to the question, will cryptocurrency become more mainstream?
The poll conducted online between March 26 and April 6 reveals high awareness of cryptocurrencies among residents of the Old Continent. Two thirds of Europeans (66%) have heard of cryptos, with higher numbers among males (77%). Several lower income countries like Turkey (70%), Romania (75%) and Poland (77%) have a higher share of people who have heard of cryptocurrency than the European average – 66%. More Australians (70%) than Americans (57%) are aware of Bitcoin.
A surprising discovery was that younger people, in the brackets 25-34 and 35-44 years, are not necessarily much more knowledgeable than other age groups. For example, 60% of European respondents aged 65 or older shared they had heard of cryptocurrency. Tech-savvy Europeans, typically those using their mobile devices for online banking, are more likely to have heard of cryptocurrencies (69%) than the rest (59%), the researchers point out.
In most cases, 11 out of 15 countries, websites specialized in providing cryptocurrency-related content are the preferred source of information when making decisions on bitcoin investments. Investors in only three countries, Spain, Luxembourg and France, tend to more often seek advice from experts from financial institutions and banks, while Italians are divided, the study shows. The numbers of those who rely on guidance from family and friends or software algorithms are relatively small.
Less than a third of European respondents said they would never invest in cryptocurrencies. Austrians are the biggest skeptics, as well as people over 65 years of age. Only 14% of the young respondents, 18-34 years old, are unwilling to put money into crypto.
A Quarter of Europeans Expect to Own Crypto in the Future
The good news is that one in four Europeans (25%) expects to acquire cryptocurrency in the future, which translates into a 16% potential increase in the share of crypto owners. Again, the percentage of those likely to say they expect to buy cryptocurrency is higher among people using their smartphones for banking. Generally, those Europeans that are at least aware of cryptocurrencies are also less likely to purchase crypto assets. Elsewhere, 15% of Australian respondents believe they would own cryptos in the future, while the same can be said for 21% of Americans.
Europeans More Optimistic than Australians and Americans
The optimistic Europeans are also those who believe cryptocurrencies are the future of online spending: 35% and 32% respectively say Bitcoin and altcoins are the future of financial investments. In Australia, these numbers are 18% and 19%. Almost a third of Americans, 31%, think cryptocurrencies will be used for online purchases and 29% see them as main investment instruments in the years to come.
From the rest, 23% said they would buy a cup of coffee with bitcoin, 21% are willing to pay their taxes or monthly electricity bills in crypto, 26% think it’s a good idea to buy a plane ticket with bitcoin, 30% are ready to make international online payments, and 20% admit they would use cryptocurrency to save for their children’s tuition fees. In general, the researchers conclude, younger people and residents of countries with lower per-capita income levels are more likely to consider cryptocurrency as a payment option. At the moment, 15% of Europeans would accept their salary in cryptocurrency.
Do you expect interest in cryptocurrencies to rise again in the near future? Tell us in the comments section below.
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The post Interest in Bitcoin Set to Double in Europe, New Survey Suggests appeared first on Bitcoin News.
Source: Bitcoin.com