Consumer concerns about virtual currency and fraud could be more serious than the study’s respondents indicated. In July 2014 polling by JWTIntelligence, nearly half (48%) of US internet users were concerned about potential fraud with virtual currencies like Bitcoin—meaning web users may continue to shun digital currencies in favor of other modern payment methods instead.
Though Accenture reported that respondents who had used digital currencies found them to have good security, with 36% citing protection of personal identity and anonymous transactions as top benefits, JWTIntelligence respondents weren’t buying this. When asked about their top concerns regarding Bitcoin and other similar digital currencies, 70% of internet users said these payment methods were too new to know how secure they really are. A similar percentage were also worried about volatility and risk, and half had even written digital currencies off as a fad. Read the rest at eMarketer.