Bitcoin Blockchain Business 730569 Cryptocurrency? Thanks, but not for me (yet).

Cryptocurrency? Thanks, but not for me (yet).

Cryptocurrency and bitcoins in particular have frequently been in the news lately. Consequently, 60 % of all respondents can spontaneously name at least one cryptocurrency, of which the bitcoin is, by far, the best known currency (88 %). Males and young people are slightly more familiar with virtual money than females and people over age 65. 

Rather reluctant

However, cryptocurrency being well known doesn’t make them very popular among the Belgians: 41 % of those who know at least one cryptocurrency take a rather negative view of virtual money. Respondents over age 65 are hereby notably more reluctant (77 %) than younger people (14%). The main reasons for this reluctance are ignorancy and vagueness. Also, respondents believe that the cryptocurrency hype will burst like a bubble.

Only 2 % of the respondents that know at least one cryptocurrency already have invested in cryptocurrency. Respondents that are positive about virtual money either already bought virtual money or fancy cryptocurrency because of the fact that this type of money cannot be verified by the government.

Not ready yet

At last, as 71 % of all respondents indicate that they have no intention to invest in cryptocurrency any time soon, it seems that Belgium overall is not ready yet for virtual money.

A Profacts study among 1.003 Belgians - representative sample