Skrill: 4 in 10 Customers Have Invested in Crypto

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  • A survey by online payment giant Skrill reveals that 4 out of 10 consumers (40%) have invested in some form of cryptocurrency.
  • The survey reveals that 64% of participants recognized Bitcoin, while 84% have heard of at least one cryptocurrency.
  • The survey results showcase crypto adoption among the mainstream.

Skrill, the giant online payment and money transfer services provider, conducted a consumer survey that revealed several interesting facts regarding cryptocurrency. The survey demonstrates that crypto adoption is skyrocketing and that a majority of responders maintain a good grasp of the whole crypto landscape.

The survey by Paysafe’s digital payment brand Skrill manifests that 4 out of 10 consumers (40%) have invested in some form of cryptocurrency. The trend has found more momentum in 2021 given the increased awareness, as well as the fact that an increasing number of prominent figures and respected institutions are dabbling in this market and making headlines.

The survey, which was titled “The Lost in Transaction,” was conducted among 8,111 consumers from the United States, United Kingdom, Canada, Germany, Austria, Bulgaria, and Italy. Interviews were undertaken by Sapio Research via an online questionnaire.

Crypto Interest is on the Rise

According to findings, 84% of the participants said they had heard of at least one cryptocurrency while 64% recognized Bitcoin. A staggering 20% admitted they own Bitcoin or used to. Bitcoin ownership was higher in the U.S at 24% and Bulgaria at 36%.

Furthermore, the survey shows that other than Bitcoin, the most recognized crypto-assets were Bitcoin Cash at 31%, Ethereum at 22%, and Litecoin at 19% awareness. Ownership trends revealed by the survey also reflected the same pattern, with BCH owned by 9%, leading ETH (8%) and LTC (7%).

Nevertheless, the findings indicate that customers are “sharply divided” when it comes to their trust in cryptocurrencies. According to the survey, 47% admit that they don’t have enough knowledge of crypto-assets utility or why they are investable. Another 38% of responders consider cryptocurrencies too risky for investment, while 28% consider crypto as a reliable long-term investment.

Rossen Yordanov, Senior Vice President at Skrill, spoke about the survey results and their indications, he said:

We’re seeing that crypto is no longer a niche phenomenon, and our research provides further evidence of that, but there’s a significant opportunity to grow awareness about its potential for payments and transfers. We are working hard to make it easier for people everywhere to buy and sell cryptocurrencies with Skrill and NETELLER.

In a separate survey, as covered by FullyCrypto, Mastercard revealed that 4 in 10 plan to use crypto as a payment method. In that survey, Mastercard declared that businesses need to adopt new payment methods to meet consumers’ demands.