The cryptocurrency wave

Here’s what Britons think of it

Cryptocurrency is in the news again. The past couple of years have seen everyone from traditional businesses to individual investors look for a slice of the crypto pie. This report delves into the public interest and understanding of the still-new concept of digital currency. Crypto wallet providers can leverage this data in their decision-making. 

 Elon Musk’s Tesla created quite the buzz recently when it bought $1.5 billion of Bitcoin with plans to start accepting it as payment in the future. The billionaire himself bought Dogecoin, a meme-inspired cryptocurrency, for his son, sending its value soaring in an instant. From being seen only as an investment to becoming a valid mode for online purchases, cryptocurrency may be finally heading towards mass acceptance, as seen by all the renewed interest and discussions. Amid all the buzz, how informed are Britons about the emerging concept of digital currency? Piplsay polled 6,070 people nationwide to get some insights. Here is a summary of what we found:

Other Insights

• About 35% of Gen Zers and Millennials each understand cryptocurrency as compared to 29% of Gen Xers
• 39% of Millennials and Gen Zers each think cryptocurrency is safe as compared to 22% of Gen Xers
• 37% of Gen Zers and 27% of Millennials plan to invest in cryptocurrency this year

Survey Methodology: This Piplsay survey (powered by Market Cube) was conducted nationwide in the UK from February 12-14, 2021. We received 6,070 online responses from individuals aged 18 years and older.