The 70% of cryptocurrency holders almost never use it for payments

70% of cryptocurrency holders hardly ever use it for payments A new survey reveals some aspects of interest on the use of these assets.

70% of cryptocurrency owners almost never use it for payments - criptovalute3 1024x683

A recent survey found that most encrypted currency owners rarely use it to make payments, for the simple reason that it does not yet feel at ease to carry out transactions in encrypted currency.

The Foundation for Interwallet Operability (FIO), a consortium of wallets, exchanges and payment services, conducted an investigation of over 200 cryptocurrency owners, asking them multiple questions about their transaction experiences, shedding light on issues that hinder use. wider.

The results show that during 2018, only 30% of users sent cryptocurrencies to third parties or to an alternative account at least once a month. 43% of respondents sent cryptocurrencies to third parties or made a purchase with these assets only a few times during the year, and 27% did not do it once. This means that 70% of cryptocurrency holders never use or rarely use cryptocurrency to make any kind of payment.

The research also found that 13% of owners have never used a wallet that holds their private keys. As for the diversification of digital business portfolios, about half of respondents hold between one and five different cryptocurrencies at the same time, another quarter hold six to ten, and about one in ten hold over 20 different coins.

Going back to what we anticipated at the opening of the analysis, one of the reasons why crypto-currency users do not use these assets for payments is that some people are still worried about the completion of transactions. According to the survey, only about 25% of people who sent cryptocurrencies to someone else felt "very comfortable" immediately after sending. The majority of users, around 58%, felt only cautiously optimistic. The remaining 17% of users felt assailed by a certain level of anxiety, including 5% who said they were very nervous about the fact that the transaction could not go as planned. However, this feeling seemed to gradually go through experience, as 40% of users who bought their first cryptocurrency over three years ago declared themselves very comfortable, while only 21% of users who kept cryptocurrencies for less than three years have felt the same way.