We hear about Coinbase, Bitcoin and Blockchain when the news reports about cryptocurrency. Cryptocurrency on the surface appears to be a virtual currency that fluctuates wildly in price and a common topic in financial circles. The early adopters who were made rich by mining shares of these currencies by utilizing computer servers to crunch complex processes to support the infrastructure (blockchain) for the currency. As a reward, the receive a percentage of a the currency, like Bitcoin.
Today however, the trading of cryptocurrency for goods and services as well as an investment option, has become increasingly more common as people seek new ways to grow wealth while preferring to have a currency that in many ways removes the middle men (banks, brokers, wall street) from their transactions.
We asked our omnibus panel about their understanding and use of cryptocurrencies. The infographic below highlights some of our findings from the study.