35% of Europeans agree that Bitcoin is the future of online consumption
The survey "Crypt the password for cryptocurrencies" surveyed 1,000 respondents in each country to understand their attitude towards the rise of cryptocurrencies such as Bitcoin, and what this means for our money.
ING is a Dutch banking and financial services company headquartered in Amsterdam. The survey covers a total of 14,828 respondents from 15 countries, and wants to understand how each country views cryptocurrencies and what role cryptocurrencies play in consumption and investment.
Jessica Exton is a behavioral scientist in the ING Consumer Economics group. She concluded that about one-third (or 35%) of people in Europe agree that Bitcoin is the future of online consumption, and 32% of respondents believe that cryptocurrency is an investment. In the future, 29% of respondents said they will never invest in cryptocurrency.
For risk, 30% believe that digital currency is higher than stock risk, and the remaining 70% hold the opposite view. Among them, 46% believe that stock risk is lower than cryptocurrency, and even 24% say they are at the same risk. The report states:
This may be part of the reason why cryptocurrencies seem less attractive than long-term personal financial activities. People are more willing to pay or make money to go to school instead of making one-time transactions.
The ING Bank report concluded that a small number of Europeans are considering using digital assets to buy coffee (23%), overseas online shopping (30%), or paying children's tuition (20%).
Exton said that it is interesting to say that a larger percentage of people with lower per capita income say they might consider investing or paying in cryptocurrency.
Turkey is far ahead of the 15 countries surveyed
Regarding whether Bitcoin will become the future of online consumption, most of Turkey's respondents (53%) agree or strongly agree, followed by Romanian supporters (43%), the United States 31%, the United Kingdom 5%, and Australia 18%. Netherlands 17%.
Online surveys in Turkey and Romania show potential bias towards younger professionals, who are more exposed to media and technology. However, nearly one in five (or 18%) of Turkey say they have cryptocurrencies compared to Below, Europe is 9%, the United States is 8%, Australia is 7%, and the United Kingdom is 6%. Of the Romanian respondents, 12% said they hold digital currency.
Many respondents agree that they will hold cryptocurrencies in the future. The proportion of those who agree is as follows: Europe 25%, Australia 15%, US 21%.