62% of Moroccans do not know what Bitcoin is, shows survey

A Sunergia survey launched to answer many questions shows that 62% of Moroccans do not know what Bitcoin is.

The survey was put to answer Bitcoin familiarity among Moroccans.

Bitcoin, and cryptocurrencies, in general, are prohibited by Moroccan authorities and are considered unregulated currencies

“Have you ever heard of Bitcoin” is the title of the survey.

Surprisingly, only 38% of Moroccans know about cryptocurrency, as opposed to the rest 62%, who have no idea what Bitcoin is.

With a percentage of 51%, over half of the people between the ages of 18 and 24 do know what Bitcoin is. The rate drops among those aged between 25 and 34 who know about bitcoin at 38%. When it comes to elders, 15% aged over 65 years know about Bitcoin.

The survey showed that men are more interested in Bitcoin than women.

60% of people who about Bitcoin belong to the socio-professional classes A and B.

As for geographical zones, 43% of those residing in southern regions are aware of what Bitcoin is, 38% of those in the north know about and lastly 36% of people residing in central Morocco know bitcoin.

City dwellers (46%) know more about cryptocurrency than rural people (27%).

Despite a government-implemented ban since 2017, cryptocurrency has registered an estimated $6 million worth of exchanges in Morocco this year, according to a recent report from US consulting firm Chainalysis.

As the Moroccan government continues studying the legal and regulatory possibilities for cryptocurrencies in the kingdom, public interest has certainly peaked, with many younger people eagerly waiting to get their share of the crypto pie.