April 22, 2020

Bitcoin Is For Payments: 34% Of The Economist Respondents Replied So

The Economist, together with the Crypto.com platform, conducted a survey whose main goal was to find out the attitude of people towards digital currencies and Bitcoin, in particular, their purpose.

The study involved 3,000 people who live in developed and developing economies. The survey results demonstrated that more than 85% of people are familiar with cryptocurrency in one way or another: they were once interested in buying, or they heard in the news.

When asked what digital currencies are for, respondents were divided into two camps. 34% of people believe that digital currencies are used for online payments and purchases. Also, 23% of respondents are sure that digital currency acts as a means of investing. For 24% of respondents, digital currency is an asset for speculation, thanks to which you can make a profit as soon as possible.

Cryptocurrency as “digital gold” also appeared in the respondents’ answers. The Economist survey found that 20% of people consider digital assets a safe hedge asset. Over 20% of respondents believe that cryptocurrency was created for money laundering, and other fraudulent frauds.

It is noteworthy that the survey involved those people who regularly use the services of digital payments. The study showed that 33% of the audience surveyed use online banking and popular mobile applications to purchase a product or service. The Economist survey showed so far the majority of respondents do not consider cryptocurrency as a means of paying for goods online. Also, some respondents said that they are not against experimenting and making some payments using digital currency.

Cryptocurrency has great prospects

Now for the digital currency, favorable conditions are forming for further growth and popularization in world society. Anthony Lewis, the author of “The Basics of Bitcoins and Blockchains”, is sure of this. Especially, cryptocurrency is relevant for countries with developing economies, where the banking culture is poorly developed. Lewis noted:

“Cryptocurrency is excellent support for those who do not use the services of banks, but who need to make digital payments.”

The survey results reinforced an optimistic sentiment towards the digital currency, its prospects among crypto adherents. In particular, Crypto.com Director Eric Anziani noted:

“This survey once again confirmed that cryptocurrency has a great chance of mass approval in world society. Now people are more loyal to digital payments without the participation of banks and third parties. We are on the right track. ”


This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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