Crypto study: British do not want centralized coins

In a representative crypto study, the British market research institute D-CYFOR asked 1002 adult Britons about Bitcoin and crypto currencies.

According to the survey, 93 percent have heard of Bitcoin at least once before. That is an increase by 13 per cent in the comparison to the past November. Thus the level of knowledge about Bitcoin has reached a new high.

Britons don’t want a central Bitcoin formula

More than half of the respondents (56 percent) stated according to onlinebetrug that they would not invest despite regulation of Bitcoin formula crypto currencies by the government. One third, on the other hand, would “rather” invest if the Bitcoin formula market were regulated.

In addition, the study shows that the majority (60 percent) would not support a coin issued by the Bank of England (BoE), which would be linked to Sterling. Millenials, on the other hand, are the only age group that would support a crypto currency issued by the BoE.

British pessimistic about Bitcoin’s future according to crypto study
The optimism about the value of Bitcoin has not changed compared to January 2018. 39 percent of the respondents are still optimistic. However, this figure has decreased by 15 percent compared to November 2018.

Six out of ten Britons (61 percent) are skeptical about the Bitcoin development for the next six months: 32 percent believe that Bitcoin will lose value in the next half year. The other 29 percent believe that the largest crypto currency in terms of market capitalisation will collapse and become worthless. Also here no change resulted to the study in January. However one must stress that an increase of the values resulted in the comparison from 47 to 61 per cent.

British not yet satisfied with Bitcoin trader sales

D-CYFOR also asked about the experiences of Bitcoin trader. Almost one in four (24 percent) Bitcoin trader who tried to sell Bitcoin found the fees too high. 10 percent said it took a long time to sell Bitcoin and in the meantime the value fluctuated widely. A third thought the sale was an easy process, while 16 per cent did not yet try to sell Bitcoin.

Half of the surveyed Bitcoin investors wanted to keep their investment shorter than a year. Nearly a quarter (24 percent) want to stay invested for more than five years and 28 percent of the respondents said they didn’t know yet.

Further Investments
50 percent of Bitcoin investors would not invest in another crypto currency. The other 50 percent would invest their money in Ethereum (20 percent), Bitcoin Cash (14 percent), Ripple (6 percent) and Litecoin (5 percent).

Finally, the study shows that a majority still considers real estate (45 percent) to be the best investment for long-term investment. This is followed by 20 percent who invest their money in a bank and 14 percent who invest in shares and bonds. A further 13 percent put the money aside for pensions. Six per cent invest in gold and only two per cent invest in crypto currencies such as Bitcoin.

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