71% of Americans know about Bitcoin [BTC], making it the most well-known cryptocurrency, according to research by YouGov. The survey, which was conducted through YouGov Omnibus, also found that Ethereum [ETH] is the second most-known cryptocurrency, with 13% of citizens knowing about it.
Behind Ethereum came Litecoin [LTC], with 11% of respondents stating that they have heard about it. Other notable mentions include Dash [DASH] with 10% and XRP with 7%. 21% stated that they have not heard of any cryptocurrency at all.
The research also provided data on the gender split between knowledge of cryptocurrencies, with men more likely to have heard of cryptocurrencies than women. 27% of women stated that they have not heard of any cryptocurrency, compared to men, out of which only 16% replied negatively.
In those that had heard about Bitcoin, 87% admitted that they did not have any involvement with the cryptocurrency. This includes any activities such as trading or mining the cryptocurrency. 49% felt that not buying Bitcoin earlier was a good thing and that they have no future plans for doing so. However, 15% felt that it was too late to buy the coin and that they wish that they had bought it earlier.
As a bullish news for long-term HODLers, 36% of individuals reportedly stated that they see cryptocurrencies become widely used as a method of transacting value in the next 10 years. This has been the dream of cryptocurrency enthusiasts worldwide, to see the technology being used to move value worldwide. Out of this group, it seems as the millennials are the most likely to believe this will occur, with 44% of them replying positively.
Out of the respondents who believed that the technology will become accepted, 36% stated that they would “be interested in” converting to using a cryptocurrency as a primary means of transacting value. 57% stated that they would not convert, thus showing that a majority would not switch from the safety of fiat currencies.
YouGov also stated that a near-equal amount of respondents did not consider that cryptocurrencies could be adopted widely in the mainstream. However, the research also said that around 25% of the respondents believed they are used for illegal purchases more than they are for legal ones. 17% stated that they are used for legal, and 19% said that they were used equally for both.
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