Bitcoin (BTC) Recognized by Two out of Three Consumers: Research by Skrill

Skrill, a multi-purpose payment service focused on digital payment solutions, presented the results of a recent survey about crypto visibility and perception in seven countries: U.S., U.K., Canada, Germany, Austria, Bulgaria and Italy.

Two out of three respondents recognize Bitcoin (BTC)

Skrill's research was carried out between March and April 2021 by Sapio Research in seven countries with 8,000 respondents surveyed. A total of 38 percent of participants confirmed that they either bought cryptocurrencies or somehow invested in them.

A total of 84 percent of respondents were aware of at least one cryptocurrency. Sixty-four percent, or almost two-thirds of participants, claimed that they recognize Bitcoin (BTC).

In recent months, crypto ownership has spiked in the U.S. (24%) and Bulgaria (36%). Besides Bitcoin, the survey showed that the list of best-known currencies includes Bitcoin Cash (31% of consumers), Ethereum (22%) and Litecoin (19%).

Ethereum Classic (ETC), Dash (DASH) and Stellar Lumens (XLM) are recognized by less than 10 percent of respondents. Also, Chainlink (LINK), Tezos (XTZ), Cosmos (ATOM), Eos (EOS), OMG Network (OMG), Kyber Network (KNC) and 0x (ZRX) were mentioned by respondents as recognized cryptos.

Crypto newbies lead the way

It is interesting that 97 percent of respondents answered that they tried using cryptocurrencies for the first time during the past year. Meanwhile, the majority of respondents are using digital wallets together with other payment methods.

Half of crypto holders utilize debit and credit cards together with cryptocurrencies. Rossen Yordanov, senior vice president, Skrill and NETELLER, at Paysafe, emphasized that the crypto segment accomplished a significant milestone over the last year:

Cryptocurrency adoption has rapidly increased to heights nobody could have imagined even two years ago. 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.

Typically, respondents claim that crypto represents the future of payments and banking while only 17 percent recognize them as investment and speculation instruments.