Survey Shows How Crypto Is Perceived Among Different Income Groups

People who belong to the lower-income group surprisingly do not think about digital assets as a way to amass wealth.

Survey Shows How Crypto Is Perceived Among Different Income Groups

Jack Dorsey’s Block, Inc. (formerly known as Square) has brought an exciting report on how cryptocurrencies and Bitcoin in particular are viewed amongst people according to their average incomes.

The survey was conducted in cooperation with the research firm Wakefield Research and included 9,500 adults across the United States, Europe, the Middle East, Africa, and the APAC countries, with each region containing at least a hundred people who owned Bitcoin.

The results of the survey were quite interesting, as it turned out that while half of the respondents who belonged to the wealthier income category answered they would invest in crypto for profit, only 38% of those with lower income have agreed with them.

Moreover, 42% of the lower-income group have stated that they would mainly use Bitcoin as a means of payment for goods and services, and 41% said they would use crypto to send money to others as remittances. The report concludes:

“People with lower incomes, regardless of where they live in the world, recognize bitcoin’s utility as a payments ecosystem, seeing it as a way to send remittances and buy goods and services.”

Further results of the survey have shown, for example, that only 7% of the respondents have never heard about cryptocurrencies, while 88% were familiar with Bitcoin. The familiarity with digital assets was also the decisive factor in the question of whether they would consider buying crypto or not.

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