Digital currencies: More than 60% of consumers want to buy goods with crypto

Digital currencies

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TL;DR Breakdown

  • BitPay surveyed over 8,000 participants about cryptocurrencies, and the results are impressive.
  • According to researchers in the Middle East, digital currencies are frequently used by young people.

A survey shows that over 60 percent of people want to use digital currencies as payment. This survey proves the popularity of the crypto market adoption in the United States.

BitPay and the financial market website PYMNTS surveyed around 8,000 people in the United States to learn about their perspectives on cryptocurrencies.

Survey results on digital currencies

Digital currencies

After surveying all participants, BitPay and PYMNTS found that 60 percent of people want to use crypto. Research reveals that people who use digital currencies buy products and pay for services with crypto every day.

The research showed that 75 percent of crypto fans used the tokens for transactions and not as a source of investment. The attraction to crypto is mainly generated by Bitcoin, Ether, Dogecoin, and Shiba Inu that trended a few months ago.

In a study from the year 2020, only 32 percent of respondents bought digital currencies out of fear of losing their money to inflation.

By December 2020, this number interested in crypto amounted to 53 percent, according to pollsters. Even 59 percent of users at the time wanted to invest in crypto to buy goods.

The study explains that users are interested in crypto because it gives them security and privacy in transactions. People feel that crypto wallets serve the same function as TOCs for online purchases. But the research also finds that 30 percent of respondents feel that digital currencies make them lose money.

However, people refraining from using cryptos should change their views by studying the crypto market. By the figures, over 70 percent of users have not used cryptocurrencies because they do not know how they work.

According to the survey, people who do not have cryptocurrencies are eager to use them in 2022. Other field research backed by MasterCard revealed that crypto usage increased 40 percent this year.

The new generation adopts cryptocurrencies with priority

The new generation is the majority of investors gaining merits by using cryptocurrencies in Africa and the Middle East. Over 60 percent of young citizens in these regions agree that using cryptocurrencies is a priority.

Even 70 percent of young people are interested in studying digital currencies to take full advantage of them. According to research, Bitcoin is the most used token globally, with a price that exceeds $44000 today. Bitcoin Cash and Ethereum are among the altcoins most used by amateur investors.

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Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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