Virtual Currency Survey: Not Many Interested in Alternative Currencies

Alternative currencies such as Bitcoin have been gaining a lot of attention lately. The virtual currency offers a lot of potential value in a global marketplace, but it hasn’t yet been accepted into the mainstream. How many Americans think virtual currency is a good idea? And how many are willing to try it out for themselves?

virtual currency

Virtual Currency

In Ask Your Target Market’s latest survey, only 8% of respondents said that they have used virtual currency systems like Bitcoin at some point. Of the 92% who have not used virtual currency, just 5% said they would definitely consider using it in the future. 29% said they would probably consider using it. 48% said they would probably not ever use virtual currency. And 18% said they definitely wouldn’t.

Global Currency

Similarly, just 10% said they think that having a global system of virtual currency would definitely be a good idea. 33% said they think it would probably be a good idea. 39% said it would probably not be a good idea. And 18% of respondents said they think that having a global system of virtual currency would definitely not be beneficial.

Avoiding Scams

One worry that many people have related to virtual currency is the potential for scams. 39% of overall respondents said that worries about scams would likely prevent them from ever using virtual currency systems. Another 50% said that they would be somewhat worried about scams related to virtual currency. 7% said that scams wouldn’t really worry them. And just 4% said they wouldn’t be worried at all.

You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.

Photo Credit: Virtual Currencies from Virtual Worlds from Flickr

What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.

Results were collected on April 14 via AYTM’s online survey panel.

Anne Pilon brings 3 years experience to AYTM as a blogger and journalist. She has a degree in journalism and marketing communications from Columbia College in Chicago and enjoys writing about business, marketing, social media, and art.