BitBay Survey: 9 out of 10 Respondents Consider Crypto Safe for Transactions

Katowice-based cryptocurrency exchange BitBay published a survey of Polish cryptocurrency users in a bid to “create a portrait of this community.” The results may shock.

The survey’s questions are centered on who uses digital currencies and how. BitBay owns and operates crypto payments provider BitBay Pay.

Established in 2014 by Sylwester Suszek, BitBay is considered as the first Polish cryptocurrency exchange. The company now has more than 800,000 clients and 200 staff.

There were 10 questions and 2,582 respondents. More than 90 percent of the respondents were male, over 50 percent were below 40 years old, and the biggest demographic were males aged between 31 to 35.

Most of the respondents held more than one currency, with BTC being the most popular at a 70 percent own rate. More than half held over four different coins. Every third BitBay user also owns XRP, ETH, and Lisk.

Nine out of 10 respondents deem cryptocurrencies to be a safe means of facilitating transactions, though most of the respondents admitted they have not made a crypto purchase yet, while 25 percent made at least one transaction. For those who have utilized cryptocurrency as a payment option, 15 percent purchased electronics, three percent purchased food, and two percent used it while travelling. It is also important to note that the crypto regulation in Poland and most of Central Europe is still unsteady.

Furthermore, electronics and food were the most common answers in terms of future purchases. More than 50 percent of respondents also said that they would like to use cryptocurrencies for automobile services.

The final question was about user confidence. More than 90 percent think that cryptocurrency payments will become mainstream.

While the survey only represents a small portion of the entire population, the result shows that there’s a growing interest in the technology and may soon be widely accepted by many.