Europeans sceptical about crypto currencies

The Bitcoin has been around for about ten years. In Europe, however, most people do not believe in the triumph of crypto currencies, according to a survey by ING-Diba. Facebooks Libra could also have a hard time.


The first popular crypto currency, Bitcoin, has been around for a little over ten years now. However, the vision of the supporters of digital currencies for the future of payment transactions and investment has not yet been fulfilled. According to a survey by the direct bank ING-Diba, many people in Europe are sceptical about crypto currencies.

In Germany, less than a quarter of those surveyed believe that digital currencies will prevail in Internet payments. Europe-wide it is about a third. It looks similar with the question to Bitcoin and CO as an investment. Also with an increase in value count only few


According to the study, the negative attitude towards digital currencies is spread throughout almost all of Europe. According to the study, Turkey is the only country in which statements on payment transactions, value retention and value development have been able to achieve approval rates of more than 50 percent. This could be due to the high inflation rate in the country, the authors of the study speculate. In September, inflation in Turkey plunged back into the single-digit range with 9.3 percent for the first time in two years.

Are many people sceptical about crypto currencies because they know little about them? That at least suggests the study. Only a quarter of those questioned were able to correctly answer at least four out of five questions about crypto currencies, including whether Bitcoin is a kind of digital money and whether its value is constantly changing.

Anyone who knows at least moderately about digital currencies is usually more positive about them. However, this is reversed among the respondents with the most extensive knowledge: they are more sceptical about crypto currencies. According to the survey, young people in Europe are not necessarily better informed about digital money than older people. But they are more open-minded about crypto currencies.