The Digital Currency Council (DCC) found last week that 41% of Americans trusted job titles using the term “Digital Currency” compared to those using the word “Bitcoin” (15%). “Virtual Currency” did slightly better at 18%, but “Cryptocurrency” also struggled at 15% and “Litecoin” bottomed out at 8%. This survey was conducted via Google Insights polling among a representative sample of 506 people in the United States in March 2015.
What does this mean for Bitcoin? It’s no secret that public perceptions of Bitcoin are less than favorable. These sentiments may shift as the industry evolves and average consumers become more familiar with the technology. However, at this moment, professionals joining the rapidly expanding digital currency economy may be advantaged in choosing job titles that ensure trust and authority, and well advised to avoid terms like “Bitcoin” or “Cryptocurrency.”
This is the first part of the DCC’s multi-phased Pulse Reports on the public perceptions of Bitcoin and digital currencies. It follows early insights published last fall from the DCC’s Bitcoin Barometer on mainstream awareness of Bitcoin in the United Kingdom. In the coming weeks, the DCC will release new data and analyses to give digital currency professionals an edge on how to best enter and compete in this new market.