Stories | June 26, 2018

Striking out alone? Few own Bitcoin or other cryptocurrency – so far

Bitcoin owners in Europe, the USA and Australia revealed. Here's who will buy into the trend over time.

If you bought into Bitcoin before spring 2018, you’re one of the few. Despite the volatile prices and media hype, many people appear to be taking a “wait and see” approach.

The ING International Survey Mobile Banking – Cryptocurrency 2018 has learned that, while just nine percent of people in Europe currently own some Bitcoin or other digital currency, another 16% expect to buy into the trend in future. Eventually, as many as one in four (25%) Europeans overall say they expect to own cryptocurrency.

Roughly equal shares agree that cryptocurrencies, such as Bitcoin, are the future of spending online (35%), the future of investing (32%), or that their value will go on rising over the next 12 months (35%). Attitudes are similar in the USA and Australia.

When quizzed further, however, only small shares would consider using Bitcoin for a range of specific everyday transactions.

Buy, sell, invest?
In Europe, about one in five say they might use cryptocurrency to buy a cup of coffee (23%), pay their taxes (21%), pay their monthly electricity bill (21%), or save for their children’s university fees (20%). As many as one in three (30%) indicate they’d consider using Bitcoin to pay for international online purchases.

Fewer than one in five reply that “Bitcoin only interests me as an investment”. And one in three (29%) say that they personally would never invest in cryptocurrency, with 46% in Europe rating it as riskier than the share market.

Perhaps surprisingly, people in Europe are almost as likely to say they’ve heard of Bitcoin whether they’re 65+ (60%) or 18-24 (64%). Read the full report.

eZonomics team
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This article is related to the ING International Survey:

Mobile Banking 2018 – Cryptocurrency

Mobile Banking 2018 – Cryptocurrency

June 26, 2018

Few people have invested in cryptocurrencies such as Bitcoin so far, and many worry about the risks in doing so. The ING International Survey Mobile Banking 2018 asked nearly 15,000 people across Europe, the USA and...