Bitcoin, despite its and other cryptocurrencies’ struggles throughout this year, appears to remain an attractive alternative to the current financial system (in the U.K., at least).
A bitcoin survey, carried out by respected pollsters YouGov, has found that one in five people in the U.K. think bitcoin will be “as common as cash or card” payments in future—just as bitcoin celebrated its 10th birthday last month.
The survey found that, while bitcoin is still a relatively new technology, nine out of ten (93%) of people in the U.K. say they have heard of bitcoin—with just over one in five (23%) say they understand it “fairly” well.
Cryptocurrencies including bitcoin, ethereum, litecoin, dash, and ripple saw unprecedented growth in 2017, catapulting them into the national consciousness. While digital currencies across the board have divided opinion between financial institutions, the crypto sector continues to grow, as it continues to see wider mainstream adoption
Currently, bitcoin is all but unused for payments either over the internet or in brick-and-mortar stores and the survey found that four in ten (43%) of people in the U.K. expect that status quo to continue, saying they do not think cryptocurrencies will ever be as common as cash or card. A third (34%) don’t know.