Survey: 88% of Japanese Heard About Bitcoin

November 20, 2017

Survey: 88% of Japanese Heard About Bitcoin

It is no accident that Japan is considered the leader of the Bitcoin-sphere. In April, the government of the country recognized Bitcoin as a legal means of payment, and in July declared Bitcoin transactions free from VAT, which increased the demand among the population. A survey conducted by Macromill Group proves that the level of awareness and involvement of the Japanese population is high. 88% of the respondents said they had heard about Bitcoin, and 47% had used it in stores. Ten thousand people aged between 20 and 69 took part in the survey.

56.2% respondents stated they had heard about Bitcoin, but did not fully understand what it was like, 31.4% said that they knew Bitcoin well, and only 12.4% admitted they had not heard about it. At the same time, only 2.7% of respondents said they currently owned Bitcoin, and 2% had had it once.

The demand for Bitcoin in Japan is high, and many shops have implemented the possibility to pay in the cryptocurrency. It is reported that in the country there are more than 5000 points where it is possible to pay in Bitcoin. 47% of those who own Bitcoin said they had used it to pay in the store, while 53% had not. 43% named food stores, 40% e-commerce sites, 31% restaurants and cafes, 29% electronics stores, and 28% - supermarkets, as places where it is desirable to be able to pay with cryptocurrency.

The survey also touched upon the reasons for buying the cryptocurrency. 42% said their chief reason for buying was interest, 42% expected its further distribution, 33% admitted that they had purchased it with the aim of getting profit, and 33% of the respondents said they simply liked new things. At the same time, 54% of the respondents said they had bought Bitcoin as a long-term investment, for 42% the cryptocurrency is a short-term investment, and only 34% bought it for using as a means of payment.

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