Are the Dutch ready for Bitcoin?

Press release – Bitcoin wallet, Luno, launches the Bitcoin Barometer to test the nation’s appetite for cryptocurrencies.

Luno Bitcoin Barometer

Luno, a leading global cryptocurrency company, has recently launched its Bitcoin Barometer showing nearly two-thirds of those polled (60%) currently own, or are open to owning cryptocurrencies in the future.

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Luno developed the Bitcoin Barometer, in cooperation with TNS, to discover what Dutch internet users already know about cryptocurrencies today and how important they consider them to be now and in the future.

Whilst almost all of those surveyed (93%) had heard of cryptocurrencies, only over a quarter (27%) actually own any cryptocurrency.

Are the Dutch ready for Bitcoin?

Of those that do own crypto, Bitcoin is by far the most popular currency to own, with 73% owning the coin. In a second place, we can see Ethereum than Ripple or Dash/Lisk. The popularity of particular altcoins is similar on all surveyed EU markets.

Are the Dutch ready for Bitcoin?

Although the majority of the EU are familiar with cryptocurrencies, it seems there is still some confusion and distrust towards the digital asset. More than two-fifths of Dutch residents surveyed (44%) believe it is difficult to use digital currencies, whilst 46% think they are not safe, nor a profitable (21%) investment. However, compared to many areas of Europe including Italy and the UK, Netherlands residents are quite open to embracing cryptocurrency.

With over a third (39%) saying they don’t have access to enough information about digital currencies to feel confident in buying them and using them to make a secure transaction, it’s not surprising that there is still resistance to adopting the cryptocurrency, as a form of mainstream payment.

The Bitcoin Barometer has demonstrated that although nearly all of those surveyed were familiar with cryptocurrency, the majority are resistant to take this new financial system into the everyday. Most of the Dutch (nearly 90%) treat cryptocurrencies as an investment tool, while only 20% uses it to pay for goods and services in the internet and 6% to make transfers to friends/family. That can be caused by lack of merchants who accept such currency. It is not so common, but there are interesting places in the Netherlands which accept Bitcoin, among the others; Cocomama hotel, easyHotel Amsterdam City Centre, or Starbikes, Amsterdam Boats Events. As well restaurants like Cafe Kobalt, or barber shop Cut Throat Barber.

Magdalena Golebiewska, Country Manager for Netherlands, commented: “There are definitely public misunderstandings around cryptocurrencies that lead to lack of trust and misinformation around the digital currency. That is why 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”.

Disclaimer: this sponsored post is part of a content partnership between Bitcoin Magazine NL and Luno. Bitcoin Magazine NL does not give any financial advice. This above information is only for educational purposes. Trade in cryptocurrencies is at your own risk.

By Wessel Simons

Journalist en mede-oprichter van bitcoinmagazine.nl in 2017. De site is uitgegroeid tot een van de belangrijkste bitcoin - en cryptosites van de Benelux met ruim 1 miljoen gebruikers.

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