A recent study was commissioned by Clarity, and conducted by Populus, to gauge the receptiveness of digital currency in the UK. With digital currency growing in popularity around the world, and more online retailers accepting digital currency as a method of payment, receptiveness in the UK comes to question.
The results of the study found that receptiveness of digital currency is still lacking. Only 4% of Internet users in the UK feel overwhelmingly confident with using digital currency, while 24% are still undecided, and 29% are not at all interested in using digital currency.
When delving in a bit more as to why receptiveness is not higher, lack of knowledge and information is the biggest barrier. 63% of those surveyed said that they feel they do not know enough about digital currency to feel comfortable using it. On top of that, 29% are unsure that digital currency is even legal. Of the individuals surveyed, 52% are concerned with security related issues.
Another thing to keep in mind when discussing digital currency is the low percentage of UK Internet users who are comfortable using a mobile wallet. While mobile wallets are an entirely different method of payment, they are also a method of paying for online products and services. According to data collected in 2013 by Auriemma Consulting Group, only 9% of internet users in the UK have a mobile wallet.
On the other hand, 98% of UK internet users are comfortable using debit cards. The good news is, with continued education, the percentage of UK Internet users who utilize digital currency is expected to rise. Just as with the debit cards when they were first introduced to mainstream payment processing, education and time increases user-base.
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