Bitcoin Needs To Be Involved In More Real-World Apps, According To Over One Fourth Of UK Residents

  • took a survey to understand the needs and expectations of the public in the UK, in relation to cryptocurrency.
  • The survey revealed that more people would be involved in cryptocurrency with more real-world use cases and integration into familiar technology.

Cryptocurrency, even though it has been around for 10 years, still has many people around the world that know nothing of it.

The lack of information for the public is one of the major reasons that the industry still has not reached the level of notoriety hoped for, but that does not mean that the public is not interested. In fact, in recently published research by the crypto exchange, it appears that 27% of the surveyed citizens in the United Kingdom are hoping for more “real-world applications” of digital currency.

In a report from BTCManager on June 27th, offered the results of their survey, primarily centered around adoption, application, and expectations of digitals currencies in the region. The survey involved 1,013 respondents.

In the survey, 32% of the individuals said that it would be nice to have the tech integrated more easily into payments apps, mobile storage, and other types of “everyday technology.” Real-world use cases for cryptocurrency, like credit card payments and sending cross-border payments, are desired by about 27% of respondents.

The survey asked the participants why they personally own cryptocurrency. While 18% said that they just liked trading in general, curiosity and hoping for prices to surge were the reasons for 21% of respondents, each. In the survey, nearly half of the cryptocurrency owners had some amount of Bitcoin, which makes it the most dominant coin amongst participants.

Of the people who did not hold cryptocurrency at the time of this survey, 28% said that this would probably change if they understood it better. However, 12% said that they wanted to have an understanding of how to store it safely and securely before owning it, and another 11% said that they would purchase cryptocurrency if it could buy real-world goods. Making cryptocurrency easier to purchase was the leading reason for 7% of respondents.

Kaspersky Lab, a cybersecurity firm in Moscow, held a survey that was published on June 17th, stating that 19% of people around the world have purchased cryptocurrency before.

However, that means that 81% of the respondents have never purchased cryptocurrency. Overall, there were 10% of respondents who said that they “fully understand how cryptocurrencies work,” which means that there is a fraction of people who are involved with cryptocurrency but do not understand it.

The deVere Group, a financial consulting firm in Dubai, released a survey last month that showed that 68% of the individuals in the world with a high net worth already have invested in cryptocurrency, or plan to by 2022.

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