Despite the hype, 79% of people admit to knowing next to nothing about cryptocurrency.
By now, you’ll have seen it everywhere you look.
Bitcoin has taken a huge step towards legitimacy, with investors now able to trade on its futures via the Chicago Board Options Exchange (CBOE).
Cue mass media hype — or, put another way, mass public confusion. So we recently asked our Streetbees community to provide a brutally honest assessment of their knowledge of cryptocurrency.
The results were starkly conclusive: almost 4 in 5 people admitted, in the privacy of our app, that they actually know next to nothing about the world’s ‘next big thing’. For the minority that did have knowledge, 41% were nevertheless suspicious of it as a concept, sharing deep concerns over the idea of cryptocurrency investment.
This tells us that recent media comparisons to the infamous Tulip Bubble in 17th Century Holland may not be that far fetched. People are currently mortgaging their houses to buy Bitcoin, but we’ll wager that the majority of people — 79% of them, to be precise — are making the decision blind.
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A quick word on our methodology: The figures in the article are taken from a piece of field research, carried out in November 2017. 1645 people were involved in the study, spreading across all age ranges. All of the data was collected by mobile and web surveys, and the 95% confidence interval is 3 percentage points.
Streetbees is an independent research platform, founded on the principle of humanising how we collect data. Join our community today by downloading the Streetbees app.
