Cryptocurrencies are more popular than ever. So it’s no wonder that more and more people want to use Bitcoin and Co. as a means of payment for their everyday purchases. A current study based on survey results has shown that almost 60% of all participants are willing to use digital assets to pay for goods and services.
In addition, two thirds of those surveyed have already entered the crypto market and are planning to use the tokens for transactions – even if there are still many obstacles to overcome on the way to mainstream status.
Bitpay study on usage behavior of Bitcoin and Co.
The interactive platform for financial services PYMNTS.com together with BitPay, surveyed over 8,000 US consumers about their attitudes towards cryptocurrencies – the study has become known on the Internet as the “Cryptocurrency Payments Playbook”.
Almost 60% of the respondents answered that they would like to pay for their everyday purchases or services with Bitcoin, Ether or other assets. Interestingly, people who are already in the crypto space were also surveyed – 75% of them had explicitly acquired Bitcoin and Co. in order to use them later for transactions in everyday life.
Greetings from FOMO – 53% of those surveyed don’t want to miss anything
In 2020 a similar survey took place, which also had the popular “FOMO” (Fear Of Missing Out) on the subject – at that time 32% of the respondents stated that they had bought crypto assets out of fear of missing out on something. In this year’s survey, this number has risen to 53% – no wonder, given the rapid developments in the crypto market.
Not only members of the crypto community were surveyed – so-called no-coiners also answered questions from PYMNTS.com and BitPay. 75% of them stated that they have not yet invested in cryptocurrencies because they do not yet know enough about the asset class. Above all, it was important for the respondents to know about the purchase process, the administration and also the tax implications before entering the market.
Millennials are often more open to digital currencies
In a survey by the payment processor MasterCard, 40% of respondents said that they could imagine using digital assets for payments within the next twelve months. The younger generations in particular were open to newer concepts:
Millennials around the world and those in the Middle East and Africa are particularly involved in the discussion around cryptocurrencies. However, more than half (67%) admit that they are now more open to the use of Bitcoin and Co. than they were a year ago.
Bitcoin2Go means: The crypto universe is becoming more popular every day – and even if we are still at the beginning of a general bitcoin adoption, many members of the community want the opportunity to make their everyday expenses with cryptocurrencies. Especially during the ongoing corona pandemic, interest in Bitcoin and Co. has skyrocketed. One of the main reasons for this is the high level of privacy and security that crypto payments offer the user – conventional credit cards usually cannot keep up with that. But no matter how attractive Bitcoin and other cryptocurrencies may be, before any investment – no matter what type – a detailed research should be carried out – true to the motto “do your own research”. Incidentally, according to the survey by PYMNST.com and BitPay, exactly one thing prevented many respondents from entering the crypto market – ignorance.
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