It looks like cryptocurrencies are getting more momentum especially during this festive period. The Bank Of England held a Twitter online pool asking people how would love to receive money as a gift this Christmas period.
Although the pool still has 2 days left to close, more than 70% of users would love to receive their gifts in digital currency.
Nonetheless, 20% still prefer the normal cash at hand, while others are still stuck at Bank transfer or Gift Voucher.
Most of the replies were calling on Ripple (XRP) which isn’t surprising, because the cryptocurrency is very popular in the United Kingdom.
There is still no legal framework for cryptocurrencies in the UK, but with this Twitter pool, it looks like that might change.
We also have to keep in mind that the Chartered Financial Institute (CFI) has stated that cryptocurrency, in particular Bitcoin (BTC) is “too inefficient to be a currency”. According to the institution, “whatever it is, it is not a legitimate investment”.