YouGov: 20% of UK citizens believes in fiat substitution by crypto

ICO News

The fresh research by YouGov sociological panel revealed that in the UK there is a visible part of local people who become not only cryptocurrencies’ believers but they (at least of 20%) anticipate that cryptocurrencies will substitute fiat in modern monetary regime. One in five UK citizens deliberate that Bitcoin will be “as common as cash or card” for to undertake payments.

Astonishingly 93% of UK people are aware of Bitcoin. 23% respondents proclaim that they understand “fairly” well. Young people (millennials and Z generation) are significantly more likely than older generations (baby boomers and X generation) to proclaim that they understand Bitcoin ‘fairly well’, with four in ten (43%) saying this compared to just one in six (16%) of those aged 55 and above.

4% say they have cryptocurrencies, with those people overwhelmingly likely to be young men: 6% of men say they have bought Bitcoin, compared to 1% of women. Furthermore, one in eleven (9%) 18 to 24 year old say they have bought the cryptocurrencies, compared to one in a hundred (1%) of those aged 55 and above.

The younger people are the more likely they know someone who has bought Bitcoin, falling from 36% when respondents are 18 to 24 year old to 7% of those aged 55 and above.

43% believe that fiat will keep its status quo in nearest future but 34% doubt about the fiat perspective. Cryptocurrencies become more famous due to the drive it gets from popular figures in show business. In August rapper Eminem mentions Bitcoin in his last music track. has recently written that Gwynet Paltrow actress praised cryptocurrencies.

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