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Paysafe’s Skrill Releases Survey Results: 4 Out of 10 People Own Crypto

Paysafe’s Skrill Releases Survey Results: 4 Out of 10 People Own Crypto
  • Paysafe’s Skrill has just released the results of a survey on consumer crypto adoption.
  • 84% of survey-takers confirmed that they’d heard of at least one cryptocurrency.
  • The results however also suggest that people are not sure about investing in crypto.

Paysafe’s digital payments brand Skrill has just released the results of a consumer survey about the popularity and adoption of cryptocurrency. The results are a testament to the fact that cryptocurrency is growing exponentially, with a majority of responders confirming their knowledge of the matter.

As per the findings, 84% of survey-takers said they’d heard of at least one cryptocurrency and a major chunk, 38%, confirmed that they’d invested in or bought one. Other than this, a large 64% recognized Bitcoin.

The survey was carried out between March and April 2021 by Sapio Research in the UK, US, Canada, Germany, Italy, Austria, and Bulgaria.

Out of the survey’s total participants, 20% said they owned Bitcoin now or had done so in the past. In fact, ownership for Bitcoin was higher in the US and Bulgaria than in other countries at 24% and 36% respectively. Moreover, reports showed that other than Bitcoin, the most known currencies were Bitcoin Cash at 31%, Ethereum at 22%, and Litecoin at 19% awareness. Ownership trends reported by the survey also followed the same pattern, with BCH owned by 9% leading ETH (8%) and LTC (7%).

Further, 10% of respondents recognized Ethereum Classic, Dash, and Stellar, but ownership rates were pretty low at 5% or less. Finally, only about 8% of people were aware of Chainlink, Tezos, Atom, EOS, OMG, Kyber Network, and 0x.

The findings, however, also suggest that consumers are really divided in their trust for crypto. For instance, almost 50% agree that they don’t know enough about the asset to use it for investment or otherwise. Along with that, 38% of responders consider it too risky for investment. At the same time, about 28% believe that crypto is a good long-term investment.

In addition to this, since cryptocurrency has been so in-trend throughout the first quarter of 2021, consumer understanding has also increased monumentally. 29% of respondents confirmed that they know more about cryptocurrencies right now than they did at the same time last year. A quarter (26%) also noted that they’re more likely to invest in crypto now compared to 12 months earlier.

About the results and their implications, Skrill Senior Vice President Rossen Yordanov said, “ “We’re seeing that crypto is no longer a niche phenomenon, and our research provides further evidence of that, but there’s a significant opportunity to grow awareness about its potential for payments and transfers. We are working hard to make it easier for people everywhere to buy and sell cryptocurrencies with Skrill and NETELLER.”

Cryptocurrency adoption has rapidly increased to heights nobody could have imagined even two years ago

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Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.