Bitcoin’s Popularity Set to Double Soon, An Ipsos-ING Survey Reveals
As days go by, the popularity of cryptocurrencies increases significantly throughout the world, notably Bitcoin's. According to recently concluded research, the interest in Bitcoin will soon double in Europe, the US and Australia. Typically, the survey evaluates the awareness of the masses regarding the subject of cryptocurrencies, as well as their future expectations. Ipsos conducted the market study in partnership with ING, a renowned bank based in the Netherlands.
Bitcoin Awareness is Widespread in Low-income Countries
The poll sought the opinion of over 15,000 individuals from the countries mentioned earlier. Besides asking for their standpoint on virtual currencies, the survey also aimed to know how people use and invest cryptocurrencies. Also, it queried people on whether digital currencies pose a severe threat to fiat money. Surprisingly, the study revealed that residents of lower-income countries such as Poland, Romania, and Turkey are more aware of cryptos as compared to citizens in wealthy countries such as the US, and other developed nations. Moreover, males are comparatively more informed on the subject than females.
Shockingly, the disparity gap regarding knowledge of digital currencies between the youth and the elderly is not significant. To this end, a sizeable portion (60%) of respondents aged over 65 years displayed a basic understanding of the matter in question. On the other hand, people who use their mobile gadgets for internet banking and other online transactions showed substantial mastery of cryptocurrencies when pitched against non-users.
Additionally, this poll disclosed that most investors trust blockchain-related websites for tips regarding investments in virtual currencies. Such is the case in most of the countries involved in the survey, with the notable exceptions being Luxembourg, Spain and France. In these nations, traders prefer to enlist the advisory services from industry experts and financial institutions. Notably, Italians have no bias towards either option. Expectedly, only a negligible number of individuals seek advice from AI systems and close acquaintances.
Concerning scepticism, less than 33% of Europeans said that they could not invest in digital assets, with the largest number being Austrians and people aged over 65 years. Contrariwise, a whopping 86% of the youth (up to 34 years old) stated that they are likely to invest in cryptocurrencies.
Currently, the ownership of digital assets is substantially low across all areas covered by this study. The figures stand at 9%, 8% and 7% for Europe, the US and Australia respectively. In Europe, the Eastern countries such as Turkey, Poland and Romania have the highest number of cryptocurrency holders, while the Western counties have lower ownership rates.
Europeans are the Most Likely to Purchase Digital Assets
While the present ownership of digital currencies is appalling, the future looks promising, especially across the European continent. As per the survey, 25% of respondents in Europe hope to acquire cryptocurrencies, a development that would significantly increase the number of virtual asset investors. Comparatively, 15% of Australians and 21% of Americans are willing to buy such assets. Predictably, individuals who are unaware of cryptocurrencies are highly unlikely to invest in them.
Americans and Australians are Less Bullish on the Future of Cryptocurrencies
As mentioned earlier, the survey also sought to know the people's perception of the future of virtual currencies. In this regard, the Europeans expressed considerably more optimism than respondents from the US and Australia. Specifically, 35% of Europeans are confident that the market value of digital currencies will undergo a resurgence within the next year, while only 12% are optimistic in Australia.
Amongst the European respondents, Luxembourg are the most pessimistic, with a paltry 20% expecting a renaissance, while Turkey had the most hopefuls, standing at 51%.the views regarding the usage of cryptocurrencies in online transactions were almost similar, with Europe leading the line with America and Australia taking second and third positions respectively.
Furthermore, the respondents who are aware, own or have intentions of purchasing digital assets were asked if they would use the virtual money for various real-life cases. In response to this, less than 50% of the participants said that they are not ready to use cryptocurrencies as the primary method of making payments. Alternatively, those who think that virtual currencies should become mainstream sated that they are likely to shop and pay utility bills in crypto. However, only a meager 15% of the respondents are willing to receive their salaries in digital currency.