The high volatility of Bitcoin and Its brethren is an obstacle for those who wish to advertise the cryptocurrency as a reliable way of payment, however, a recent study found that crypto owners do not mind to buy things with it, and most of it is about lawful and mundane orders.
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Visual Objects researched 983 people familiar with cryptocurrency and 157 cryptocurrency owners. The first group was asked what they thought crypto owners would rather purchase. 40% of these said that cryptos are primarily used to buy stocks, while 30% mentioned illegal products. Very few suggested that crypto owners buy clothing (15%) and meals (14 percent ).
The image is quite different, at least from the Perspective of cryptocurrency owners themselves. They said they use their crypto wallets to purchase food (38%), clothing (34 percent ), stocks (29%), and gold (21 percent ). 15% confessed that they bought weapons and 11% purchased medication with crypto.
The poll indicated that Cryptocurrency is utilized for daily purchases more often than the general public believes. 72% of the crypto owners said they use to purchase items with their digital wallets.
Bitcoin is the most popular cryptocurrency amongst a group of owners, With 70% of the respondents holding it. Ethereum (27 percent ), Litecoin (20%), and Dogecoin (15 percent ) come next.
Cryptocurrency Community Paying More Attention to Utility
Individuals will learn to use Cryptocurrencies to purchase goods, especially when the fiat money will be reliable as a result of inflationary pressure.
That 36 percent of American SMEs accept crypto payments, according to a survey commissioned by American carriers Hartford Steam Boiler (HSB).
Last month, Coinbase announced that its card could be used to make purchases on Google Play.[/vc_column_text][/vc_column][/vc_row]