Taking another stat from that same article
An estimated 11% of Americans currently hold bitcoin.
@Revels So if you found 100 random Americans inside Walmart, ~11 of the them holding. 
So there’s 1 million wallets but that’s somehow 11% of Americans?
Do you not need a wallet to keep it?
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He can choose what he answers and what he doesn’t. I haven’t been rude.
All I’m asking for is Monzo to make clear it’s stance on Crypto which seems like a sensible request.
Things I have said and stand by them until someone can offer anything
Cheques are dying
Cash is dying. Out of ten transactions we had nine coin and one cashless. We are now at ~7.5 cashless. By the end of decade I personally see nine out of ten transactions cashless.
Compared to when crypto was five or ten years ago it’s a completely different beast. It’s not the 17yr in their bedroom buying it, it’s now your neighbour, it’s your postie. I’m not saying it’s mainstream at all.
Crypto will be used for transactions, I’m not saying that will be Bitcoin, there are other altcoins better suited to the task.
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They won’t, just like no other bank will make their stance clear on anything. Why? Because they can’t
What they do though, if you go on chat you’ll find a clear answer or in their terms.
HSBC is a good recent example where they have changed their policy as of Jan 2021 to block transactions. It was in all the papers.
Barclays, Nationwide, NatWest/RBS, Santander, TSB, Virgin, Co-op are all fine with it.
Lloyds/Halifax fine with debit account, not with credit cards.
HSBC, Starling no dice.
The 1 million is referring to active daily wallets, not total wallets
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That must have annoyed their millions of customers that have Bitcoin.
Yes this so there’s 330 million Americans and about 36 million Americans hold crypto.
We have about 67 million UK peeps, anyone have 2021 stats to hand
LOL! What?!
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However after reading the article in full, not sure active daily is a suitable term. It seems to refer to the number of wallets that were active in the network on a given day, not the number of wallets that are active on a daily basis.
Also this particular stat seems to be a global stat, not US specific.
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The research findings highlight a statistically significant increase from 3% in the
2019 FCA Consumer Research to 5.35% this year in those who hold or held
cryptocurrencies. This represents an increase of 2.35 percentage points, from
approximately 1.5 million people to 2.6 million people.
This year 27% had never heard of cryptocurrencies, compared with 58% in our
survey last year. This represents a statistically significant increase in the
percentage of those being aware of cryptocurrencies from 42% to 73% of adults.
So let’s say 5 in 100 customers in Sainsbury’s will hold crypto. I imagine that’s grown since the last report in 2020 especially the last three months.
11 in 100 customers in Walmart
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So it’s very far from mainstream. It’s a niche product mostly used by nerds and criminals.
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Tallies with YouGov data from Jan 2021.
5% of Brits state they have bought cryptocurrency
Gee, thanks!
Tbh, I don’t bother with crypto much anymore besides Ethereum. I made my Bitcoin peas and got out. Though much of the fanfare surrounding Bitcoin and other crypto currencies in general has me thinking mainstream is where they’re headed. My interest has piqued once again and I would personally like to see banks get on board with this.
I’ve not once said it’s mainstream at all.
What I’ve said is it’s not niche compared to five-ten years ago where it was the geeky 17yr in their bedroom.
It’s now your next door neighbour or your postie.
Its mostly just being traded.
The form of payment aspect is minimal.
But within the next few decades it will become a form of payment, won’t be Bitcoin (that’s not appropriate for fast transactions) but it will be another coin suited to financial services.
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Just because it’s more popular doesn’t mean it’s not still a niche product.
It’s far far away from where you think it is.
Let’s revisit this post on 2030.
We’ve gone 3% (2019) to 5.35% (2020), I’d imagine it’ll be closer to 10% by the end of 2021.
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Really?
2018
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Hugh posting over three years ago back in January 2018 that Coinbase doesn’t work and sensible personal use should be ok that a couple hundred people would have seen back then does not represent an official Monzo stance. You have 5million+ customers.
If Monzo is fine with trading Crypto then they need to be telling their chat support that is the case, including a statement in their terms etc shouting it from the rooftops.
If you search the internet the general consensus is that Monzo is anti-crypto. Even on this forum the general response is Monzo does not like crypto and your account can be frozen.
This is all because of Monzos lack of official stance. Because Monzo has not said personal is fine, people assume that when accounts are shut it’s because of crypto in general (not that they are using non-personal money etc)
It’s a massive win over Starling that Monzo could take. I still won’t use Monzo for crypto for personal use until I have confidence.
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How some think it is:
How it really is:
How it will eventually end:
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