70% OF RESPONDENTS PREFER BEING GIFTED MONEY IN DIGITAL CURRENCY, SURVEY

Imagine receiving your next birthday gift not as a physical object, but as a seamless, instantaneous transfer of digital currency.Sounds futuristic?Well, according to recent surveys, it's closer to reality than you might think.A groundbreaking study reveals that a significant 70% of respondents prefer being gifted money in digital currency. The Bank for International Settlements (BIS) defines a central bank digital currency (CBDC) as a central bank-issued digital money denominated in the national unit of account, and it represents a liability of the central bank. 3 One can think of a CBDC as a cryptocurrency but one issued by the central bank itself, whichThis preference highlights a growing shift towards digital payments and a fascination with the potential of cryptocurrencies and Central Bank Digital Currencies (CBDCs).This article dives deep into the findings of these surveys, exploring the reasons behind this preference, the implications for the future of gifting and personal finance, and the ongoing debate surrounding the role of digital currencies in our evolving economy. The vast majority of respondents to an ongoing United Kingdom central bank Twitter survey, posted Dec. 17, said they would prefer to receive a gift of money in digital currency. Screenshot of theWe'll unpack the benefits of digital gifting, address potential concerns, and provide insights into how you can navigate this emerging trend.Get ready to explore the fascinating world of digital currency and discover why it's becoming the preferred way to give and receive gifts.

The Rise of Digital Payments: A Shifting Paradigm

The world of finance is undergoing a monumental transformation, driven by technological advancements and changing consumer preferences.Digital payments are no longer a niche trend; they are rapidly becoming the dominant method for transactions. While nearly one third of respondents expected to increase cash usage in the 2025 survey, that figure drops to 8% in 2025, as more than 70% prefer digital payments and 60% of respondents see themSeveral factors contribute to this shift, including convenience, speed, security, and accessibility.Surveys consistently demonstrate this trend, with a substantial majority of individuals expressing a preference for digital payment methods over traditional options like cash or checks.

Convenience and Speed

Digital payments offer unparalleled convenience. 【Published by Max Yakubowski】 The vast majority of respondents to an ongoing United Kingdom central bank Twitter survey, posted Dec. 17, said they would prefer to receive a gift of money inThey eliminate the need to carry cash, write checks, or visit a bank.Transactions can be completed instantly, regardless of location. CHICAGO and PHILADELPHIA, Mar. 7, 2025 /(Business Wire) / - Onbe, a market-leading corporate disbursements platform, today published its 2025 Future of Payments Survey, finding that digital payments continue to drive US consumer preferences in today s connected economy. 70% of respondents prefer to receive payments digitally and 73% prefer to shop and pay with digital methods, including inThis is especially appealing in today's fast-paced world, where time is a precious commodity.

Enhanced Security

While concerns about online security persist, digital payment platforms often offer robust security measures, such as encryption and fraud detection systems.These safeguards can provide greater protection against theft and loss compared to carrying physical cash. According to the survey, 61% of respondents with a household income greater than $150,000 reported spending more due to having access to a digital wallet, whereas only 30% of respondents earningMoreover, digital transactions are easily traceable, making it easier to recover funds in case of fraud.

Accessibility and Inclusivity

Digital payment methods can expand financial inclusion by providing access to banking services for individuals who may not have traditional bank accounts. Survey takers are divided about whether open source (non-bank) digital currencies (cryptocurrencies such as but not limited to Bitcoin) should be considered strictly as a currency for settling transactions or as an asset for storing/appreciating value: About four in ten (41%) view it as a regular currency, a rise from 34% last year at theMobile wallets and online platforms offer alternative avenues for managing money and participating in the digital economy.

Onbe's 2025 Future of Payments Survey: A Deeper Dive

Onbe, a leading corporate disbursements platform, published its 2025 Future of Payments Survey, providing valuable insights into the evolving landscape of digital payments.The survey highlights the growing preference for digital methods in shopping, payments, and gifting.Let's examine some key findings:

• Preference for Digital Payments: A significant 70% of respondents preferred to receive payments digitally.
• Digital Shopping Dominance: 73% of respondents preferred to shop and pay using digital methods.This includes online retailers, mobile payments in stores, and other digital avenues.
• Decline in Cash Usage: While nearly one-third of respondents initially expected to increase cash usage, that figure plummeted to just 8% in 2025, demonstrating a clear shift toward digital alternatives.
• Digital Wallet Spending: The survey also indicated that 61% of respondents with a household income greater than $150,000 reported spending more due to having access to a digital wallet, while only 30% of respondents earning less than $50,000 reported the same.This suggests a potential correlation between income level and digital spending habits.

These findings underscore the growing acceptance and adoption of digital payment methods across various demographics.The survey provides further evidence that digital payments are not just a fleeting trend but a fundamental shift in how people manage their finances.

The Appeal of Digital Currency Gifts

The growing preference for being gifted money in digital currency is driven by several factors.Understanding these reasons is crucial to appreciating the potential of digital gifting:

Flexibility and Control

Digital currency gifts offer greater flexibility and control compared to traditional gifts.Recipients can use the funds for whatever they choose, without being constrained by the giver's preferences.This is particularly appealing to younger generations who value autonomy and personalization.

Potential for Appreciation

Unlike traditional gifts that depreciate over time, digital currencies, particularly cryptocurrencies, have the potential to appreciate in value.This adds an element of excitement and investment potential to the gift.However, it's important to note that cryptocurrencies are volatile, and their value can fluctuate significantly.

Seamless Transactions

Digital currency transactions are often seamless and instantaneous.Sending and receiving digital currency gifts can be done with a few clicks, eliminating the need for physical exchange or intermediaries.

Modern and Tech-Savvy

Gifting digital currency can be perceived as modern, tech-savvy, and forward-thinking.It demonstrates an understanding of the recipient's interests and aligns with their digital lifestyle.

The UK Central Bank Twitter Survey: A Vote for Digital Gifts

An ongoing Twitter survey conducted by the United Kingdom central bank further reinforces the growing preference for digital currency gifts.The survey revealed that a significant majority of respondents expressed a desire to receive gifts in digital currency.While the specific percentage wasn't provided in the snippet, the phrase ""vast majority"" suggests a substantial level of support for this concept.The survey likely explored various aspects of digital currency adoption and its potential impact on the economy.

Central Bank Digital Currencies (CBDCs): The Future of Money?

The Bank for International Settlements (BIS) defines a Central Bank Digital Currency (CBDC) as a digital form of a country's fiat currency, issued and regulated by the central bank.Think of it as a digital version of cash, backed by the full faith and credit of the government.

Key Characteristics of CBDCs

• Issued by the Central Bank: This distinguishes CBDCs from cryptocurrencies like Bitcoin, which are decentralized and not controlled by any single entity.
• Denominated in the National Unit of Account: CBDCs are pegged to the national currency, providing stability and predictability.
• Liability of the Central Bank: CBDCs represent a direct claim on the central bank, making them as safe and reliable as physical cash.

Potential Benefits of CBDCs

CBDCs offer a range of potential benefits, including:

• Improved Payment Efficiency: CBDCs can facilitate faster, cheaper, and more efficient payments, both domestically and internationally.
• Reduced Transaction Costs: By eliminating intermediaries, CBDCs can lower transaction fees and streamline payment processes.
• Enhanced Financial Inclusion: CBDCs can provide access to banking services for unbanked and underbanked populations.
• Greater Monetary Policy Control: CBDCs can give central banks greater control over the money supply and interest rates.

Concerns and Challenges of CBDCs

Despite their potential benefits, CBDCs also raise several concerns and challenges:

• Privacy Concerns: The central bank's ability to track all transactions raises concerns about privacy and government surveillance.
• Cybersecurity Risks: CBDCs are vulnerable to cyberattacks and data breaches.
• Disintermediation of Banks: CBDCs could potentially disintermediate banks, reducing their role in the financial system.
• Technical Challenges: Developing and implementing CBDCs requires significant technological expertise and infrastructure.

Cryptocurrencies vs.CBDCs: Understanding the Differences

While both cryptocurrencies and CBDCs are digital forms of money, they differ significantly in their underlying technology, governance, and purpose.Here's a comparison:

The Open-Source Debate: Currency or Asset?

The survey takers in the UK study were divided on whether open-source digital currencies, such as Bitcoin, should be considered a currency for settling transactions or an asset for storing value.This debate reflects the ongoing uncertainty surrounding the true nature and potential of cryptocurrencies.

Cryptocurrencies as Currency

Proponents of this view argue that cryptocurrencies can serve as a viable alternative to traditional currencies, offering faster, cheaper, and more secure transactions.They point to the growing number of merchants accepting cryptocurrencies as payment and the increasing adoption of digital wallets.

Cryptocurrencies as Assets

Those who view cryptocurrencies as assets emphasize their potential for appreciation and their use as a store of value.They argue that cryptocurrencies are more like gold or stocks than traditional currencies, and that their value is driven by speculation and market demand.

The reality is likely a blend of both.Cryptocurrencies can serve as both a currency and an asset, depending on individual preferences and market conditions.The key is to understand the risks and rewards associated with each use case.

Income Disparity and Digital Currency Adoption

The Onbe survey revealed a correlation between income level and digital currency adoption.Individuals with higher household incomes were more likely to spend more due to having access to a digital wallet, while those with lower incomes were less likely to do so.This suggests that access to digital financial tools and services may be influenced by socioeconomic factors.

This disparity highlights the importance of addressing the digital divide and ensuring that all individuals have access to the benefits of digital currency.This includes providing education and training on digital literacy, promoting affordable internet access, and developing inclusive financial products and services.

Practical Implications and Actionable Advice

So, how can you navigate this evolving landscape and take advantage of the growing preference for digital currency gifts?

Explore Digital Wallet Options

Familiarize yourself with different digital wallets and choose one that meets your needs and preferences.Consider factors such as security, ease of use, and supported currencies.

Educate Yourself on Cryptocurrencies

Before investing in or gifting cryptocurrencies, take the time to understand the risks and rewards.Research different cryptocurrencies, learn about blockchain technology, and stay informed about market trends.

Consider CBDCs When Available

As CBDCs become more widely available, explore their potential benefits and consider using them for gifting and other transactions.CBDCs offer a more stable and regulated alternative to cryptocurrencies.

Promote Digital Literacy

Help others learn about digital currency and digital payment methods.Share your knowledge and experiences with friends, family, and colleagues.

Advocate for Inclusive Financial Policies

Support policies that promote financial inclusion and ensure that all individuals have access to the benefits of digital currency.

Answering Common Questions

Here are some frequently asked questions about digital currency and digital gifting:

Is it safe to gift someone cryptocurrency?

Yes, but it's essential to ensure they have a secure digital wallet and understand how to manage their cryptocurrency.Providing guidance and resources can help mitigate risks.

What are the tax implications of gifting cryptocurrency?

Gifting cryptocurrency may have tax implications for both the giver and the recipient.Consult with a tax professional to understand the rules in your jurisdiction.

What if the recipient doesn't want cryptocurrency?

Offer alternative digital payment options, such as a digital gift card or a transfer to their bank account.

How can I ensure the security of my digital currency gifts?

Use strong passwords, enable two-factor authentication, and store your private keys securely.Be cautious of phishing scams and other online threats.

Conclusion: Embracing the Digital Future of Gifting

The survey findings clearly indicate a growing preference for being gifted money in digital currency.This trend is driven by convenience, flexibility, and the potential for appreciation.While challenges and concerns remain, the benefits of digital currency, including CBDCs and cryptocurrencies, are undeniable.As technology continues to evolve, digital currency will likely play an increasingly important role in our financial lives, including how we give and receive gifts.Embrace the digital future by exploring the opportunities and addressing the challenges associated with this emerging trend.The key takeaways are:

• Digital payments are becoming the norm.
• People prefer the flexibility of digital currency gifts.
• CBDCs could revolutionize the financial system.
• Education and awareness are crucial for successful adoption.

Consider giving the gift of digital currency for your next celebration and be a part of the financial revolution!