I find the news of low quality, they missed (with intention or not) some interesting points from the original report.
First miss: they've asked only the 16+ brits. It's important, since I expect more 14-16 y.o. know about this than 60+
Second: "Nearly three in four of those surveyed hadn’t heard of cryptocurrencies or were unable to define what they are correctly." The fact you cannot define properly what's that is different from not hearing about them. Quite misleading imho. The "never heard of it" is 58% which sounds more "normal".
Also it depends on how the question looked like. Many may have heard of Bitcoin, but not about cryptocurrencies (tough word for many).
Imho these things should clearly be there in a news article in a crypto-focused newspaper.
Topic: [2019-03-08] 73% of UK Consumers Say They Don’t Know What Cryptocurrency Is - page 2. (Read 382 times)
March 09, 2019, 01:57:51 PM
March 09, 2019, 12:50:54 PM
73% of UK Consumers Say They Don’t Know What Cryptocurrency Is
Seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it, according to a new survey from the country’s financial watchdog, the Financial Conduct Authority (FCA).
Announced Thursday, the research indicates that those who are most aware of cryptocurrencies are likely to be men aged between 20 and 44.
The survey, which polled 2,132 British consumers in association with London-based market research firm Kantar TNS, further found that only 3 percent of those surveyed had ever bought cryptocurrencies.
https://www.coindesk.com/73-of-uk-consumers-say-they-dont-know-what-cryptocurrency-is-fca-survey
For me personally quite astonishing information, given the fact that it is one of the most developed countries in the world or in top 5 largest world economy. I assume the information is available to people, but maybe UK media is not forcing too much things which are related to cryptocurrency? Is it factor of relatively favorable financial security in the world's top countries reason why people are not overly interested is something like bitcoin?
Data shows that UK have 200+ crypto ATMs at this moment, and it is on 4 place by number of ATMs in the world.
It is necessary to take into account the mentality of people in this state. The British have always been famous for their conservatism. They are not inclined to change, especially in the field of finance. In addition, it is a country with a high standard of living. Therefore, they, unlike the population of third world countries, do not rush to make a living in a cryptocurrency. Therefore, I am not surprised by such low activity of people in relation to cryptocurrency. Seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it, according to a new survey from the country’s financial watchdog, the Financial Conduct Authority (FCA).
Announced Thursday, the research indicates that those who are most aware of cryptocurrencies are likely to be men aged between 20 and 44.
The survey, which polled 2,132 British consumers in association with London-based market research firm Kantar TNS, further found that only 3 percent of those surveyed had ever bought cryptocurrencies.
https://www.coindesk.com/73-of-uk-consumers-say-they-dont-know-what-cryptocurrency-is-fca-survey
For me personally quite astonishing information, given the fact that it is one of the most developed countries in the world or in top 5 largest world economy. I assume the information is available to people, but maybe UK media is not forcing too much things which are related to cryptocurrency? Is it factor of relatively favorable financial security in the world's top countries reason why people are not overly interested is something like bitcoin?
Data shows that UK have 200+ crypto ATMs at this moment, and it is on 4 place by number of ATMs in the world.
March 09, 2019, 11:16:59 AM
UK with its 3 percent of those who had ever bought cryptocurrencies is ahead of the most of the world in this regard. According to this research, that I'm inclined to trust, there are around 25 million Bitcoin users globally, which amounts to less than 0.5% of the world population. We are still far off from the mass adoption, although I personally don't think that people should understand how things work to be able to use them. Do people know how smartphones work?
March 09, 2019, 08:25:42 AM
Maybe this information is misleading, it depend who they ask in survey, but it show that majority of users who know something about cryptocurrency are between 20-44 years old men. So younger or oldest people (women) do not care too much for something like bitcoin, and I think there is reasons for that.
Young people usually are not burdened with real life problems, most of them just study, have fun and their parents pay for their life. Only later in life some of them start thinking about how to ensure better financial security, and some of them will find bitcoin as much more desirable investment then buying stocks or just keep money in bank. People above 45 or 50 years of life probably have no interest in anything new, they do not want or just do not understand how cryptocurrency works.
After all if people do not understand something, they will not use it - and if they not use something this is not good for that product or service. In any case more awareness that something good is out there would certainly help with more adaptation of cryptocurrency.
Young people usually are not burdened with real life problems, most of them just study, have fun and their parents pay for their life. Only later in life some of them start thinking about how to ensure better financial security, and some of them will find bitcoin as much more desirable investment then buying stocks or just keep money in bank. People above 45 or 50 years of life probably have no interest in anything new, they do not want or just do not understand how cryptocurrency works.
After all if people do not understand something, they will not use it - and if they not use something this is not good for that product or service. In any case more awareness that something good is out there would certainly help with more adaptation of cryptocurrency.
March 09, 2019, 01:51:53 AM
I am not too surprised by this study, because I live in a country that has a equal mix between 1st world and 3rd world people and the most common statement that I get, when I mention Bitcoin is mostly, "What is Bitcoin?"
I am even surrounded with tech savvy young people and a lot of them have never even heard about Bitcoin or any other Crypto currency for that matter. We need more word of mouth advertising from the price watchers that are just waiting for the price to recover. Some organized and well funded marketing Bitcoin campaigns can also be crowd funded by all these hoarders.
I am even surrounded with tech savvy young people and a lot of them have never even heard about Bitcoin or any other Crypto currency for that matter. We need more word of mouth advertising from the price watchers that are just waiting for the price to recover. Some organized and well funded marketing Bitcoin campaigns can also be crowd funded by all these hoarders.
March 08, 2019, 11:25:25 PM
I'm also quite surprised by this. Well I think most people already heard about crypto (or Bitcoin), but 73% not knowing it is quite surprising. Seem like it doesn't matter what kind of country you are, a majority of the people don't know about Bitcoin at all. Even in my country, the customer of the most used exchange are only around 1% from total population. Seems we've got a long way to go for mainstream adoption.
March 08, 2019, 03:41:34 PM
73% of UK Consumers Say They Don’t Know What Cryptocurrency Is
Seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it, according to a new survey from the country’s financial watchdog, the Financial Conduct Authority (FCA).
Seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it, according to a new survey from the country’s financial watchdog, the Financial Conduct Authority (FCA).
that sounds right to me. my sense is that most people have heard of bitcoin once or a few times before, but they have no idea what it is or how it fundamentally works.
in contrast, i'd venture to guess that a good deal of people who actually take the time and effort to learn about cryptocurrencies end up investing in them. that's why i think some of the numbers i've seen, like ~5% of people in developed countries like the USA owning crypto, are fairly realistic.
March 08, 2019, 12:38:08 PM
For me personally quite astonishing information, given the fact that it is one of the most developed countries in the world or in top 5 largest world economy. I assume the information is available to people, but maybe UK media is not forcing too much things which are related to cryptocurrency?
You're spending too much time with people that are interested in cryptos and you take your experience as granted for everybody.
Now seriously, if we make a serious poll in the alt section a lot of people that are posting here have no real understanding of what crypto is or how BTC works.I got tired of replying to tens of accounts during the fee war that were sure adding more miners to the network will make tx faster
.The average person doesn't know what cryptos are, the average person doesn't know how to install an OS on a laptop, the average person goes to a service when taping something just once is not working on its smartphone.
Just how people that play Wow or Pubg are amazed you don't, just how some are thinking you're trolling them when you say you don't have a fb or tw account, it's the same for us who are used to cryptos.
For example, my parents or my wife have never used PP or bought something from Amazon, do you think they are calling each other with smoke signals?
I think those numbers are far more real than those surveys with 17% Turks and 15% Romanians owning some crypto.
March 08, 2019, 11:35:58 AM
It depends on where they do the survey. If it's in county situated in the countryside then it sounds about right, but if the stats were collected in the city then it's completely wrong
March 08, 2019, 08:50:15 AM
73% of UK Consumers Say They Don’t Know What Cryptocurrency Is
Seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it, according to a new survey from the country’s financial watchdog, the Financial Conduct Authority (FCA).
Announced Thursday, the research indicates that those who are most aware of cryptocurrencies are likely to be men aged between 20 and 44.
The survey, which polled 2,132 British consumers in association with London-based market research firm Kantar TNS, further found that only 3 percent of those surveyed had ever bought cryptocurrencies.
https://www.coindesk.com/73-of-uk-consumers-say-they-dont-know-what-cryptocurrency-is-fca-survey
For me personally quite astonishing information, given the fact that it is one of the most developed countries in the world or in top 5 largest world economy. I assume the information is available to people, but maybe UK media is not forcing too much things which are related to cryptocurrency? Is it factor of relatively favorable financial security in the world's top countries reason why people are not overly interested is something like bitcoin?
Data shows that UK have 200+ crypto ATMs at this moment, and it is on 4 place by number of ATMs in the world.
Seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it, according to a new survey from the country’s financial watchdog, the Financial Conduct Authority (FCA).
Announced Thursday, the research indicates that those who are most aware of cryptocurrencies are likely to be men aged between 20 and 44.
The survey, which polled 2,132 British consumers in association with London-based market research firm Kantar TNS, further found that only 3 percent of those surveyed had ever bought cryptocurrencies.
https://www.coindesk.com/73-of-uk-consumers-say-they-dont-know-what-cryptocurrency-is-fca-survey
For me personally quite astonishing information, given the fact that it is one of the most developed countries in the world or in top 5 largest world economy. I assume the information is available to people, but maybe UK media is not forcing too much things which are related to cryptocurrency? Is it factor of relatively favorable financial security in the world's top countries reason why people are not overly interested is something like bitcoin?
Data shows that UK have 200+ crypto ATMs at this moment, and it is on 4 place by number of ATMs in the world.
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