Bitcoin may be more popular than we think as the findings of a recent study reveals nearly 80% of residents in the United States are aware of Bitcoin.
The study which was conducted to determine the level of awareness for 16 cryptocurrencies showed that a large percentage of respondents that are aware of cryptos have not really used any cryptocurrency for real transactions with 49% saying they have never used cryptos and do not intend to buy them.
Another 15% majorly adults between 35 and 54 years old wished they had bought cryptocurrencies but think it is too late to buy now, probably because of the recent downward trends of cryptocurrencies.
Cryptocurrencies used in the study included Bitcoin, Ethereum, Litecoin, Zcash, Dash, Ripple, Monero, Cardano, Stellar, NEO, EOS, NEM, Dogecoin, Midseason/SafeCoin, Lisk and Storjcoin X.
As expected, Bitcoin was on top of the list of recognized cryptocurrencies with over 70% respondents knowing it by name followed by ethereum which had 13% recognition.
On the likelihood of cryptocurrencies to be widely accepted in 10 years, 36% of the respondents expressed optimism that cryptocurrencies will be accepted as legimate means of exchange 10 years from now while 34% thinks otherwise.
Among those optimistic on the acceptance of cryptos, 44% were millenials and 34% were in Gen X while 29% were baby boomers. Of this number, millennials are more likely to use cryptocurrencies in place of US Dollars. A larger number (57%) however said they are not likely to use cryptocurrencies over U.S Dollars, most of them believing bitcoin is an illegal means of transaction.
The result also showed that men are generally more aware of all cryprocurrencies with only 16% being completely unaware of any cryptocurrency compared to 27% of women who are not aware of any of the cryptocurrencies used in the study.
Even though the study shows a large awareness of cryptocurrencies, not many of the respondents have actually used them in real life situations. This may be because most people see cryptocurrencies as a means for dubious activities including money laundering and funding of terrorist regimes.
However, with the level of acceptance by governments around the world, it is hopeful that cryptocirrencies will eventually become popular even in currently unfriendly countries around the world which will make it more widely acceptable. The mere fact that there is great awareness in itself is a sign that cryptos will become accepted in time.
