A recent survey conducted by YouGov established that less than 50% of millennials are willing to make cryptocurrencies their primary method of payment as compared to using the U.S. dollar.
The Participants, Time and the Basic Findings
The polling firm released its findings 6th September 2018, where 1202 Americans participated. The research was carried out for two days- from 29th August 2018 to 30th August 2018. The survey found out that 79% of the participants are aware of at least one type of digital currencies, with 71% of them expressing they are familiar with Bitcoin. Ether emerged to be the second common cryptocurrency, with just 13% of the participants declaring that they know it well.
In addition to this, 87% of the respondents who are familiar with Bitcoin have not ventured into mining or trade of this giant cryptocurrency. Half of them also expressed that they are not keen on buying Bitcoin soon.
The survey also established that 19% of the participants aged 18-34 are “Very Interested” in making cryptocurrencies their main payment method, with a further 29% being “Somewhat Interested.” Half of the millennials expressed they were “Not Very Interested” or “Not at All Interested” in making cryptocurrencies their primary payment methods.
The Impact of Age Demographics
These figures change with other age sets, with just 36% of participants being keen in making cryptocurrencies their main payment method. A good percentage of respondents think digital currencies may become a “widely accepted” financial tool soon.
Are Cryptocurrencies being Used for Legal Businesses?
Only 25% of the participants felt cryptocurrencies are being used for illegal businesses, with another 19% thorn between believing they are applied equally for lawful and unlawful businesses.
Just 17% of the respondents believe cryptocurrencies are exploited for legal businesses.
