Bitcoin Usage in The UK

June 2015

http://www.Miningpool.co.uk

1

Survey carried out during April & May 2015 Advertised via social media & on site UK residents only

http://www.Miningpool.co.uk Page 2

About The Survey

Introduction

About Miningpool.co.uk

Soft launch during Q4 2014 with focus only on Mining news Staff writers added during 2015 10,000+ Unique Visitors Monthly

Top Level Demographics

Key Findings

Predominantly Male Demographic Most Popular With 25-34 Age Group

http://www.Miningpool.co.uk Page 3

Who Uses Bitcoin In The UK?

2%

14%

47%

22%

10%

1%5%

Age Under 18

18-24

25-34

35-44

45-54

55+

Did Not Disclose

88%

7%

1% 5%

GenderMale

Female

Transgender

Did Not Disclose

http://www.Miningpool.co.uk Page 4

Acquisition

Key Findings

Mostly Used For Savings Or Purchases Buying From P2P Or Broker Sites The Most Popular

Way Of Acquiring Bitcoin

http://www.Miningpool.co.uk Page 5

How Do You Mostly Acquire Bitcoin?

http://www.Miningpool.co.uk Page 6

18%

35%

47%

MiningBuy On ExchangesBuy From Broker Or P2P

http://www.Miningpool.co.uk Page 7

Coinfloor

Bitfinex

BTC-E

Kraken

Okcoin

Bter

Bitstamp

Other

20.4

5.3

10.5

7.9

2.6

5.3

31.6

16.4

Exchange %

Which Exchange Do You Mostly Use To Purchase Bitcoin

http://www.Miningpool.co.uk Page 8

Local Bitcoins

Private Seller

Circle

BitBargain

Coinbase

Speedy Bitcoin

Bittylicous

Other

41.7

5.8

6.8

18.4

11.7

1.9

7.8

5.8

Site %

Which P2P Or Broker Site Do You Most Use To Purchase Bitcoin

Usage Demographics

Key Findings

Bitcoin Mostly Used For Purchases & Savings

http://www.Miningpool.co.uk Page 9

What do you mostly use Bitcoin for?"Please tick any of the below that apply"

http://www.Miningpool.co.uk Page 10

Purchases

Savings

Day Trading

Sending Cash To Friends/Family

Paying Bills

Other

66.4

63.9

20.5

18.0

6.6

12.3

Usage %

Regulation

Key Findings

UK Bitcoin Users Mostly Feel That Regulation Is Positive

Legitimising Bitcoin was often used as a reason for positive sentiment

http://www.Miningpool.co.uk Page 11

"Regulation should encourage uptake and improve public perception "

http://www.Miningpool.co.uk Page 12

Notable Regulation Responses

"It clarifies some grey areas for businesses and indicates the government does not currently consider it a threat to the banking system. There may be long-term negative side effects but the short term implications look positive."

" Legislation and bringing Bitcoins under the ambit of AML laws legalises the use of these by the Govt. thereby encourages local merchants to start accepting Bitcoin "

48%

13%

39%

Positive

Negative

Unsure

http://www.Miningpool.co.uk Page 13

Do you think the Government's outlined steps are positive or negative for Bitcoin?

Question refers to: https://www.gov.uk/government/consultations/digital-currencies-call-for-information

http://www.Miningpool.co.uk Page 14

Adoption

Key Findings

* Merchant adoption is lagging* UK businesses seem reluctant to accept

Bitcoin

http://www.Miningpool.co.uk Page 15

Adoption

There are not enough places to use Bitcoin within the UK

Business adoption in the UK is falling behind other countries

I am able to spend Bitcoin in a local shop (bricks and mortar)

UK businesses seem reluctant to accept Bitcoin

82.8

39.3

13.9

47.5

"Please tick any of the below points that you agree with"

% Of Responses