Cryptocurrency Market Update: Only 5% of people use cryptocurrencies on a regular basis

• The vast majority of people are away of cryptocurrencies, but they don’t use them.
• BTC/USD is in retreat after an unsuccessful attempt to move above $7,150.

According to the research, performed by The Economist, only 7% of the respondents said that they know nothing about cryptocurrencies; however, only 5% use them constantly. Notably, 33% of the surveyed don’t use and don’t plan to use them in the foreseeable future. Commenting on the results, Antony Lewis, author of The Basics of Bitcoins and Blockchains, said: 

Digital currencies are preferred over physical cash by some population groups. You need some fundamental skills and competencies to deal with digital currencies, and not everyone has these.

Notably, the cryptocurrency awareness in developed economies tends to be lower (79%) against 92% in the developing world. This result supports the view that the citizens of countries with a poor economy and low access to banking services are more inclined…