Survey Finds Only 5% of Respondents Use Cryptocurrency Regularly

 

 

 

A recently released report from the Economist Intelligence Unit, Digimentality: Fear and Favouring of Digital Currency, highlights the results of a survey that attempted to measure consumer attitudes toward digital assets. While that survey found that only about seven percent of respondents had no awareness of cryptocurrency, an even smaller number – 5 percent – reported using digital assets on a regular basis.

The survey also found a divide in perception when it comes to how respondents view cryptocurrency’s function. The largest group (34 percent) said that digital assets’ core function was online payments. Roughly 24 percent said that its main function was as a form of technology. Meanwhile, another 24 percent defined it as a short-term speculative investment. 12 percent see it as an important remittance payment tool.

Respondents also offered their assessments on the trustworthiness of various payment options. Cash scored the highest in that regard, with 84 percent of respondents calling it trustworthy. Central bank digital currencies came in second, with 54 percent of respondents rating it as worthy of their trust.

Digital currencies issued by financial firms and technology companies were seen as trustworthy be 40 percent and 36 percent of respondents, respectively. Only 26 percent of those respondents view a decentralized, unbacked digital currency as trustworthy.

 

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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