70% of Brits prefer crypto to fiat

The Bank of England has conducted a survey asking participants to identify their preferred way to receive a gift of money this Christmas. Among the options there were cash, bank transfer, gift voucher and digital currency.

Over 70% of respondents preferred digital currency. The second place was taken by good ol’ cash, with 21% of respondents indicating it as their preferred method of payment. The least favorable options turned out to be bank transfers and vouchers, chosen by only 7 percent and 2 percent of respondents, respectively.

The Bank of England was not the first to conduct this type of survey. A similar questionnaire was introduced by former U.S. Congressman, Ron Paul, who asked Twitter users how they would prefer to receive $10,000, given that it would be paid over the course of the next 10 years. 50 percent of respondents preferred Bitcoin (BTC), with gold falling onto the second spot with 37 percent.