New Survey Shows 80% Of Americans Have Heard Of Bitcoin

[RandyGamage]

A few years ago, bitcoin was a niche tech toy for nerds. Today, bitcoin has grown to become a household name.

The vast majority of people in the developed world have heard of bitcoin. That idea was reinforced this past week with the release of a survey from YouGov.

That survey indicated that 79% of Americans have heard of bitcoin. Additionally, nearly half of millennials wish to invest in bitcoin.

The online survey collected information from 2 million respondents across the United States. You can view the full study here. YouGov is an international online-based market research company headquartered in London.

Some of the most interesting facts gathered from the survey include:

- 79% of Americans are familiar with at least one kind of cryptocurrency

- 71% of Americans have heard of bitcoin

-The next-leading cryptocurrency is Ether/Ethereum, with 13% of Americans claiming they’ve heard of it

- Men are significantly more likely than women to report hearing about a cryptocurrency: 27% of women claim
 they have not heard of any cryptocurrency, while 16% of men chose the same answer

- Litecoin was the third most recognizable cryptocurrency, with 18% of men reportedly knowing about Litecoin and 5% of women

- Despite the widespread acknowledgement of bitcoin, few respondents were directly involved with the world’s largest cryptocurrency; of those who had heard of bitcoin, 87% have had no interaction with it, which means they haven’t bought, sold, or mined bitcoin

- Approximately half (49%) of respondents said they were “Glad I didn’t buy bitcoin earlier, and I don’t plan to buy it”; 15%, meanwhile, wished they “had bought bitcoin earlier, but I feel like it’s too late now”
Relatively few people have any immediate plans to buy bitcoin, according to the survey, despite the fact that over one third (36%) of respondents believe cryptocurrency will become widely accepted

- Cryptocurrencies continue to have a stigma associated with illegal transactions, with 25% of respondents claiming that they believe most cryptocurrency transactions are for illegal purposes; an additional 19% said cryptocurrencies were used equally for legal and illegal purposes, with 17% reporting that cryptocurrencies were used more for legal than illegal purposes

- Among millennials, approximately half are interested in cryptocurrency: 48% reported being interested in cryptocurrency, with 50% claiming they were not interested

- A narrow majority of respondents (57%) said they would not be interested in converting into crypto away from the US Dollar, with one third (36%) claiming they would be interested in converting the majority of their funds to cryptocurrency

Overall, this study provides one of the best views of public opinion towards cryptocurrency. With 2 million respondents, the YouGov survey was bigger than most other crypto surveys to date. You can take the survey results in an optimistic or pessimistic way. Optimists will point to the fact that 36% of respondents would be interested in switching their funds to crypto, for example, while pessimists will mention that 50% of respondents had no interest in cryptocurrency.

It’s also important to note that YouGov is an online data analytics company. That means the results are inevitably skewed towards representing people who are already on the internet. 79% of respondents reported knowing about bitcoin, for example, but those respondents are all connected to the internet. If we were to take a more representative study of America as a whole, it seems unlikely that 4 in 5 would have heard of bitcoin.

While the crypto landscape changes, we’re still a long ways away from widespread adoption of cryptocurrencies as a unit of account. This survey, however, shows that the public is interested in crypto – or at least aware of it.
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Courtesy. bitcoinexchangeguide.com

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[giantrobot]

The survey gives us very positive results. This proves that Bitcoin in particular and virtual currency are generally popular with a country like the United States. This ratio is quite true for other normal countries, except those that are too backward. This survey shows that people are skeptical about Bitcoin's ability to be successful and stable, as they still believe that Bitcoin will be unlucky, and they still believe in using the flat.

[glowing10]

More and more people hear about it and start investing or start consuming it for daily needs the better market it will become and we will grow as a community more stronger and demand will also rise. Which will lead to rise in price so a good investment options as well.

[mk4]

- Approximately half (49%) of respondents said they were “Glad I didn’t buy bitcoin earlier, and I don’t plan to buy it”; 15%, meanwhile, wished they “had bought bitcoin earlier, but I feel like it’s too late now”

People probably thought the same when bitcoin went from $700+- to $2000+- at around Q3 last year. And people will have the same opinions when we get back to the $20,000 range. Ohwell.

[nebiki]

certainly great if most Americans have heard and know about bitcoin. because with many of its citizens who know, the more people there, the investment and development of bitcoin will also run well in America and in this world

[vy99]

80% have heard of it but probably barely 1% truly understand what it is

[guy369]

80% have heard of it but probably barely 1% truly understand what it is

True, but to be fair a higher percentage of Americans have heard of banking but a small fraction of those truly understand what it is

[vy99]

80% have heard of it but probably barely 1% truly understand what it is

True, but to be fair a higher percentage of Americans have heard of banking but a small fraction of those truly understand what it is

I think more people understand banking or the basics of banking than they do Bitcoin. There's obviously intricacies in both but with Bitcoin many people really have no clue what it actually is.

[AXELNetwork]

If you exclude senior citizens and children then 80% is a huge number. It's basically all the adults from 18-60.

[medussa]

General awareness of bitcoin/cryptocurrency is growing even in developing countries, Africa as a whole will be a hub for cryptocurrency in the near future

[medussa]

80% have heard of it but probably barely 1% truly understand what it is

It will take time before even those who are involved in it to really understand how it works, bitcoins is taking a little step away from the geek/technical stuffs to the general public.

[guy369]

80% have heard of it but probably barely 1% truly understand what it is

True, but to be fair a higher percentage of Americans have heard of banking but a small fraction of those truly understand what it is

I think more people understand banking or the basics of banking than they do Bitcoin. There's obviously intricacies in both but with Bitcoin many people really have no clue what it actually is.

I agree with you on that, however banking has been around since we were all born and well before that.

Bitcoin, and crypto itself will be better understood by the generations that grow up with it in their lives.

[vy99]

80% have heard of it but probably barely 1% truly understand what it is

True, but to be fair a higher percentage of Americans have heard of banking but a small fraction of those truly understand what it is

I think more people understand banking or the basics of banking than they do Bitcoin. There's obviously intricacies in both but with Bitcoin many people really have no clue what it actually is.

I agree with you on that, however banking has been around since we were all born and well before that.

Bitcoin, and crypto itself will be better understood by the generations that grow up with it in their lives.

Yeah I have no doubt and I agree with you. I just wanted to put in a little dose of reality into the conversation so people don't think that all 80% know everything about Bitcoin.

[guy369]

80% have heard of it but probably barely 1% truly understand what it is

True, but to be fair a higher percentage of Americans have heard of banking but a small fraction of those truly understand what it is

I think more people understand banking or the basics of banking than they do Bitcoin. There's obviously intricacies in both but with Bitcoin many people really have no clue what it actually is.

I agree with you on that, however banking has been around since we were all born and well before that.

Bitcoin, and crypto itself will be better understood by the generations that grow up with it in their lives.

Yeah I have no doubt and I agree with you. I just wanted to put in a little dose of reality into the conversation so people don't think that all 80% know everything about Bitcoin.

For sure!

Even myself who has known about bitcoin since 2012 and involved in it since 2013 by buying and trading BTC still has a lot to learn when it comes to crypto

I love the industry and the tech behind it, I honestly hope crypto is here to stay!

[NuttyOracle]

Bitcoin is becoming more popular day by day but according to the survey there is still many people who are not interested in crypto right now. I hope cryptocurrency will be positively accepted by people of USA in near future.

[WinterCamel]

This is a good news that most of the Americans have heard of Bitcoin. But the survey shows us that still many people have negative thought about cryptocurrency and they have reasons to be.

[DimHorse]

Nice to see people are becoming more interested about the cryptocurrencies. Certainly bitcoin have gained a lot of traction within a very short period.

[bitbunnny]

It sounds like a good news but at the second glance it sounds too exaggerated. I mean to some estimations about 2 millions people in the whole world have heard or using Bitcoin and cryptocurrencies, which is not a large number, so 80% is realy huge percantage even for America.
It's true that interest for Bitcoin and cryptocurrencies is rising, still it needs to be carefuly checked how realy relevant is this survey.

[MarbleAlligator]

I think the first step of spreading and establishing a new concept into the majority of the popuation is simply to let people know about the concept and that is greatly achieved with the bitcoin tradition.

[BabyBoar]

After the recent situation in Venezuela with the launch of its own cryptocurency I think people are getting more interested about this new promising technology contributing to the ever growing popularity.