Here to stay
In defiance of the critics and the skeptics, the cryptocurrency Bitcoin has endured, proving itself to be more than just a passing fad. Some surprisingly big-name brands are using it, like Stream, WordPress, Microsoft Windows and Xbox Marketplace, and more.
Nonetheless, Bitcoin hasn’t exactly been embraced by the mainstream. After conducting some research about how worldwide internet users feel about Bitcoin, the Global Web Index poses this important question:
“Is Bitcoin something which the ecommerce industry should be taking seriously?”
Right now, this digital currency is most popular among people who are young, tech-savvy, and have disposable income to burn. VPN users and online gamblers seem to like it, as do digital content creators, who can sell content for Bitcoin with lower transaction fees than traditional currency. It is also conveniently anonymous, which probably accounts for its associations with illegal products and the black market. And yet, you don’t have to be criminal to value privacy – in fact, over half of internet users say that they like to be anonymous online.
Who uses it, and where?
Despite these benefits, Bitcoin isn’t exactly sweeping the nation. In fact, only about a quarter of internet users are interested in using it in the future. Users under age 44 are most open to Bitcoin; meanwhile Baby Boomers just aren’t that into it. However, the numbers are a bit higher among top earners – about a third of those with high salaries are interested in using Bitcoin in the future.
While most of the companies accepting cryptocurrencies are from the United States or Europe, it seems that the ripest markets are those in Asia, the Pacific islands, Latin America, the Middle East, and Africa.
Interest in Bitcoin was stronger in these regions, where internet and smartphone use is on the rise, but where banking services are not always readily accessible.
In India, the Philippines, and Indonesia, over 40 percent of internet users said they were interested in using Bitcoin.
If you sell in these regions, or sell anything online, really, you might want to give Bitcoin a closer look.