Law enforcement, governments and central banks have repeatedly purported that bitcoin is primarily used for illicit activities and criminal enterprises because the digital currency maintains anonymity. However, a new study coming out of the United Kingdom might contradict those claims.
According to PriceSpy.co.uk, one-third (34 percent) of Britons believe that bitcoin is the “currency of the future” and another one-third say it’ll be a “stable currency that will retain its value.”
Meanwhile, close to one-fifth (18 percent) of British consumers who knew about bitcoin have used it to purchase goods and services online. Only five percent conceded to using bitcoin to acquire illegal drugs.
What did consumers buy? The survey found that 22 percent bought online games, one-fifth bought clothes and 17 percent purchased electrical items.
“Bitcoin is a hot topic amongst online shoppers and the tech community; however, there is still confusion over how to use it, if it is secure and how well it will retain its value in the future,” Erik Lorentz, head of communications at the website, told the London Telegraph. “It is clear from our research that the nation is increasingly using bitcoins and becoming more comfortable with it as a currency when purchasing online.”
The most avid users were youth between the ages of 18 and 34, which accounted for more than two-thirds (67 percent). A majority owned anywhere between £50 ($83) and £100 ($166) – only six respondents had more than £5,000 ($8,307).
The highest number of users was located in Sheffield, London, Edinburgh, Newcastle and Norwich.
