A treat for no-coiners: The recent crypto crash confirmed some critics in their decision to keep their hands off cryptocurrencies. But how well do people really know about Bitcoin?
Block, former Twitter boss Jack Dorsey’s bitcoin company, recently released a new one opinion poll about the knowledge and impressions about the crypto key currency. This is an excerpt of the results.
Why Buy Bitcoin?
The reasons for investing in the number 1 cryptocurrency are of course very subjective. According to the survey, purchase motivation also differs according to income level.
It can be seen that half of the people with higher incomes primarily hope to make money by acquiring Bitcoin. A third (30 percent) of those surveyed with higher incomes would like to use it to diversify their investment portfolio. 27 percent of high earners want to protect themselves from inflation with BTC.
However, the situation is quite different for those surveyed who tend to earn less. Instead of investment intentions, the focus for the survey participants with a lower income is on the benefits of Bitcoin. 41 percent answer that you can easily send money with Bitcoin. 42 percent see the purchase of goods and services as a good reason to invest in BTC.
Germany is so skeptical about Bitcoin
Knowledge is power – or in this case: optimism. The survey shows that regions that rate their level of knowledge about Bitcoin relatively high are much more optimistic about the future of the crypto currency.
For example, respondents from Nigeria, India and Vietnam rate their Bitcoin knowledge relatively high. Accordingly, more than half of the survey participants from these regions consider the outlook for Bitcoin to be optimistic.
Germany is rather the opposite: only about a fifth (22 percent) of those surveyed are optimistic about the future of Bitcoin. 40 percent of Germans are skeptical about Bitcoin’s prospects.
Only Japan is even more suspicious than the Federal Republic in the ranking with 41 percent. Is there a lack of crypto education?
Reasons why an investment in Bitcoin has not been made so far
According to the poll, the answer is yes. The most common reason given why respondents have not (yet) invested in BTC is the lack of crypto education.
51 percent of the survey participants answer that they simply do not know enough about Bitcoin to invest. About a third (32 percent) cite security risks as the cause.
Almost a quarter (22 percent) don’t know how to buy BTC. Only 14 percent of those surveyed are concerned that the digital gold could have too bad an impact on the environment.
Are you in the 22 percent who don’t know how to buy bitcoin but would like to? You can read all about it in our guide.
methodology
The online survey was conducted between January 10th and 28th by Wakefield Research performed for block. More than 9,500 representative adults aged 18 and over were surveyed: 2,375 in the Americas, 4,360 in Europe, Middle East and Africa (EMEA), and 2,860 in Asia Pacific (APAC). It was also ensured that 100 Bitcoin owners are represented per region.
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