Survey Suggests Nearly 80% Of American Have Heard About Bitcoin

by | Sep 7, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News

Bitcoin Knowledge | Bitcoin Adoption | Survey | Cryptocurrency

YouGov, a polling firm has discovered in their latest survey that just about 50% millennials are open to using cryptocurrencies as a primary form of payment as opposed to using the U.S.

According to a press release released on Thursday, the stats are based on 1,202 Americans individuals, who were asked about their familiarity and interest in cryptocurrencies on August 29 and 30. The poll results suggest:

  •  79 percent of respondents are familiar with at least one type of cryptocurrency,
  • Bitcoin takes the title of the most well-known cryptocurrency in America with 71 percent respondents saying they have heard of it.
  • Ether was crowned the second-best known cryptocurrency but with only 13 percent of respondents saying they have heard of it.t.

According to the full in-depth results,

  • 87 percent of the individuals who have heard of bitcoin has not mined, bought or sold the cryptocurrency. Additionally, half of this group isn’t inclined towards investing in bitcoins.
  • Within the age group of 18 to 34,  19 percent of respondents are “very interested” in using cryptocurrencies primarily, while 29 percent being “somewhat interested.” Notably, A marginal 50 percent of millennials openly rejected the idea of primarily using cryptocurrencies as a payment method.
  • In other age demographics, only 36  percent of respondents expressed their interest in using cryptocurrencies as a payment method.
The release stated:

“Although relatively few people have any immediate plans to buy Bitcoin, more than one-third (36 percent) of people think that cryptocurrencies will become widely accepted as a means of transaction for legal purchases within the next 10 years. Millennials (44 percent) are the most likely of any age group to say cryptocurrency will be widely accepted. About one-third (34 percent) of Gen X’ers and 29 percent of baby boomers agreed.”

An interesting observation drawn was that a quarter of all respondents thinks that cryptocurrencies are still used mainly for illegal purchases, 19 percent believes they are being used equally for legal and illegal purchases. While just 17 percent of respondents think cryptocurrencies are mostly used for legal purchases.

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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