Crypto currencies: Awareness of Bitcoin & Co. increases – trust decreases
With crypto currencies such as Bitcoin or Ethereum, there is still a large difference between awareness and actual use.
Despite the high degree of awareness of Bitcoin & Co., crypto currencies have hardly been used in Germany so far. This is the central finding of a representative survey for which the management consultancy BearingPoint surveyed over 1000 consumers throughout Germany.
"Kroker's Look @ IT" presents the results of the study today exclusively in advance. The survey was conducted for the third time and describes how the perception and use of virtual payment technologies has changed in recent years.
Accordingly, the degree of awareness of crypto currencies such as Bitcoin or Ethereum has risen further in the course of the past year and thus remains at a high level: after all, almost nine out of ten consumers know the virtual means of payment or have already heard of them (88 percent). This is an increase of 17 percent compared to the previous year.
Nevertheless, Germans are sceptical about the alternative currency and there is still a large difference between awareness and actual use: the absolute numbers of actual users are all in all very small. Only 5 percent of all respondents have already purchased crypto currencies.
The scepticism of consumers is also confirmed by the following findings: A large proportion of respondents continue to regard crypto currencies as a niche product in comparison to government currencies and gold. At 77 percent, gold is still regarded as the strongest form of investment, followed by government currencies (60 percent).
Conversely, only 30 percent of those surveyed regard crypto currencies as a valuable investment. In addition, only 31 percent believe that crypto currencies have the potential to replace traditional means of payment. In 2017, this figure was 34 percent. This could be partly due to the boom in cryptojacking: The secret mining of coins virtually exploded last year, as I recently reported here in the blog.
Heiko Closhen, Entrepreneur