According to a survey conducted by ING Bank and published on 18 September 2019, 41% of Europeans had high expectations for cryptocurrencies, while about one in four respondents (23%) had low expectations. A third (32%) of the people interviewed believe that cryptocurrencies are the future of online payments.

The survey, in which 15,000 Europeans from 15 different countries answered questions about cryptocurrencies, also revealed that over a quarter (27%) said they were open to receiving new cryptocurrency offers from familiar brands and bodies, noting that they believed banks should offer current accounts even for crypto assets. Another quarter of the respondents (27%) believes that cryptocurrencies are controlled by a central body, while 34% believe that they are not. 44% do not have an opinion on the matter. The vast majority (63%) of all the interviewed Europeans know that the value of crypto assets is constantly changing and 73% know that cryptocurrency is a type of digital currency.

51% of the respondents believe cryptocurrencies can be spent in most stores, which is not true. Cryptocurrencies are not accepted at most stores unless you are in a “bitcoin city” like Arnhem in the Netherlands or somewhere in Japan. The CoinMap website currently shows that there are 15,430 brick-and-mortar locations worldwide where you can pay with cryptocurrencies. 

The author of the report states that, although the majority of the respondents have heard of cryptocurrencies, knowledge is still limited among the public. Surprisingly, he also notes that “it was the groups with a lower level of knowledge who tended to be more open to future adoption.” As Cointelegraph reported in mid-August, an online survey by banking giant ING found that Austrians are the most sceptical of bitcoin and cryptocurrencies in general.