(BlockBar) Katowice-based cryptocurrency exchange BitBay has recently released a survey of Polish cryptocurrency users. The survey is done in an attempt to “create a portrait of this community.” BitBay was founded in 2014 as the first Polish cryptocurrency exchange by Sylwester Suszek. The firm now employs over 200 people and serves over 800,000 clients. BitBay is the corporate owner of BitBay Pay which is a cryptocurrency payments provider.
The central questions asked in the survey are: who uses cryptocurrencies… and how? Ten questions were asked from about 2,582 BitBay respondents. To be noted, over 90 percent of survey respondents were male. More than 50 percent of them were below the age of 40. It is worth paying attention that the largest demographic were males between the ages of 31 and 35. The majority of these respondents are either owing or have owned more than one currency.
The most popular currency is BTC. It has a 70 percent hold rate. Over half of the users owned more than four different coins. ETH, Lisk and Ripple is owned by every third BitBay user. According to nine out of ten respondents, digital currency is a safe means of performing transactions. But to be noted, the vast majority of these respondents have not made a purchase using any cryptocurrencies. There were only 25 percent of the users who have made at least one transaction.
Those users who accessed cryptocurrency, 15 percent of them bought electronics, 3 percent bought food, and 2 percent used it to travel. Over 50 percent of respondents also declared that if they have to use the digital currency, they would like to be able to pay with cryptocurrencies for automotive services. the last question asked was about user confidence and over 90 percent of respondents believe that cryptocurrency payments will gradually become popular.
To be noted, the regulatory position of cryptocurrency in Poland and much of Central Europe is still in flux. This sample is also a limited one with a limited set of questions but it does put emphasis to the growth of interest in the technology. Along with that it points towards the considerable uneasiness as exchanges seem to shutter overnight in the country.