2% of Americans Trust Facebook’s Libra More Than Bitcoin: Research

Published at: July 24, 2019

Just 2% of Americans trust Facebook’s Libra more than major cryptocurrency Bitcoin (BTC), according to a recent survey by CivicScience.

United States-based polling company CivicScience recently conducted a survey of 1,799 American adults to find out the general trends and public concerns over Facebook’s not-yet-launched cryptocurrency Libra.

According to research results released on July 22, at least 40% of respondents claimed that they trusted Libra less than Bitcoin and other cryptocurrencies such as Ether (ETH) and XRP. 35% stressed that they trust Libra much less than Bitcoin, according to the study.

39% of respondents stated that they were unsure regarding the question, while 5% answered that they trust Libra and Bitcoin about the same.

How much Americans trust Facebook’s Libra compared to Bitcoin. Source: CivicScience

77% of Americans do not trust Facebook with their personal data at all

Americans’ attitudes toward Libra are part of a general lack of trust in Facebook regarding how the platform handles personal data. According to the CivicScience research, 77% of Americans do not trust Facebook with their personal data at all, while only 2% trust Facebook a lot.

How Americans trust Facebook with their personal data. Source: CivicScience

86% of Americans are not interested in Facebook’s Libra and its accompanying digital wallet Calibra at all, while only 5% of respondents claim that they are interested in the much-discussed cryptocurrency project.

How Americans are interested in Facebook’s Libra. Source: CivicScience

Other surveys indicate low trust in Facebook’s Libra

CivicScience’s poll comes amid a similar survey by instant messaging application Viber, which found that 49% of respondents in the United Kingdom and the United States do not trust Facebook when it comes to its own digital currency. 

On July 23, German financial association Bürgerbewegung Finanzwende published another survey indicating that about 71% of German citizens are skeptical about Facebook’s Libra, while only 12% welcome it.

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