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October 31, 2020
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Cryptocurrency

We know what cryptocurrency owners spend them on – Blocksats

A study by Visual Objects revealedthat many people believe that cryptocurrency owners use Bitcoin to buy food and clothing. However, one-third of respondents believe that BTC is most often used to buy illegal items. How is the truth The answer will surprise you a lot!

“I spend Bitcoin on …”

As many as 983 people familiar with the subject of cryptocurrencies and 157 owners interviewed Visual Objects digital assets. The first group was asked about what, according to them, cryptocurrency owners spend their digital funds. As much as 40 percent people said that BTC and altcoiny they are mainly used to buy shares, and 30% mentioned illegal items. Very few have suggested that cryptocurrency owners buy clothing (15%) and food (14%) for this.

In reality, however, it is completely different, at least from the perspective of the cryptocurrency owners themselves. They said they use their currencies to buy food (38 percent), clothing (34 percent), shares (29 percent) and gold (21 percent). 15% admitted that he bought a gun, and 11 percent drugs.

The results suggest that kryptowaluty are used for everyday shopping more often than the public thinks. 72 percent Cryptocurrency owners have claimed that they are buying many items using their digital wallets.

Top cryptocurrencies

Bitcoin is also still the most popular today cryptocurrency among the group of owners – 70 percent own it respondents. The next places belong to Ethereum (27 percent), Litecoin (20 percent) and Dogecoin (15 percent).

Polarity Leap

It is worth noting that the popularity of cryptocurrencies may soon increase due to several factors. First of all, central bank policy has recently been highly inflationary. These print new money and lower interest rates to save the weakening economies that have suffered as a result of the economic crisis and the coronavirus epidemic. Interest rates even lowered the NBP once again, which we wrote about here. Thus, independent of cryptocurrency authorities may prove to be better means of payment.

In addition, more and more companies from the cryptocurrency market make it easier not only to buy them, but above all to spend as part of purchases. Coinbase already has its own payment card. A larger number of companies will probably follow this path.

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