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Are Brits ready for Bitcoin?

Are Brits ready for Bitcoin?

 Bitcoin wallet, Luno, launches the Bitcoin Barometer to test the nation’s appetite for cryptocurrencies

  • In the UK, 15.8 million* already own/are open to owning cryptocurrency
  • Over a quarter see cryptocurrency becoming a mainstream currency
  • A fifth want to be able to shop in-store or online with Bitcoin

Luno, a leading global cryptocurrency company, has today launched its Bitcoin Barometer showing that an estimated 15.8 million UK residents either currently own or are open to owning cryptocurrencies in the future.

Luno surveyed over 2,000 UK respondents to develop a Bitcoin Barometer that discovered what they already knew about cryptocurrencies today and how important they consider them to be now and in the future.

Four in five had heard of cryptocurrencies, nearly a quarter (23 percent) of those surveyed currently looking to find out more, while over a quarter (28 percent) believed that cryptocurrency would become a mainstream currency, like USD or GBP, in the future.

Overall the results showed that cryptocurrencies are here to stay: a fifth of those surveyed believed they would be shopping, both in store and online, using cryptocurrency in the future. The Bitcoin Barometer has demonstrated that overall the Brits are open to taking this new financial system into the everyday, with a mainstream adoption beyond tech-savvy investors.

The survey revealed that trust is still a major concern, with 43 percent not having purchased any Bitcoin because they don’t trust them and over half (55%) percent believing cryptocurrencies need to be regulated like traditional currencies.

Maya Kumar, Head of the UK and Ireland, commented: “Our survey showed that just under 2 in 5 (36%) had not purchased cryptocurrencies because they didn’t understand the concept. There are public misunderstandings around cryptocurrencies that lead to this lack of trust. We believe by making cryptocurrencies easier to understand through education and offering a user-friendly, safe platform, more people across the globe can trust, benefit from and upgrade to a better financial system”.

She added, “Our Bitcoin Barometer shows a growing appetite for cryptocurrencies in the UK. Luno is committed to helping people understand the true benefits and possibilities that lie ahead.”

Luno makes it safe and easy to buy, store and learn about cryptocurrencies like Bitcoin and Ethereum. The company is committed to demystifying cryptocurrencies by educating their customers on the risks and benefits associated with this exciting new technology.

Luno currently offers three core products:

  • Luno Wallet: Consumer payments, cryptocurrency conversion and storage
  • Luno Exchange: Professional cryptocurrency trading platform
  • Luno Enterprise: Merchant integration, open API’s, institutional investors

 For more information and to learn about cryptocurrencies visit www.luno.com

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