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.
This article is related to the ING International Survey: