New research shows high demand for cryptocurrency payments

Pay in cryptocurrencies such as Bitcoin (Bitcoin) Is one of the biggest use case needs of consumers, and it is also a long-term investment, according to new data.

Pymnts, a major payment-focused publication, Released A report on consumer preference for cryptocurrency payments on Monday. The study is called “Cryptocurrency Payment Handbook: Cryptocurrency Gaining Momentum as a Payment Option.” The study analyzed a survey of more than 8,000 consumers in the United States, including current and former cryptocurrency holders, and The cryptocurrency is not the owner.

The research was conducted in cooperation with the crypto payment company BitPay and found that crypto holders and non-owners are interested in crypto payments. As many as 93% of crypto users said they would consider buying cryptocurrency in the future, while 59% of consumers who have never held cryptocurrency are interested in using it to make purchases.

Over 60% of cryptocurrency owners stated that they are “very” or “very” interested in using cryptocurrency as a payment method to make online purchases more private or secure, while 23% of non-owners expressed interest in using cryptocurrency for These purposes. In addition, 57% of cryptocurrency owners also stated that if such payment options are automatically provided at checkout, they will be interested in using cryptocurrency for online purchases. In contrast, nearly 21% of non-owners expressed the same interest.

Source: Pymnts

related: Encrypted ownership has nothing to do with distrust of fiat currencies: BIS research

Although both owners and non-owners of cryptocurrency have expressed strong interest in using cryptocurrency for payment, the level of adoption of cryptocurrency payments is still very low. The study pointed out that more than 50% of non-owners “agree” or “strongly agree” that not enough merchants accept encrypted payments. Another 30% of respondents said that using encryption as a payment method will cost them more than traditional methods such as credit cards.

Crypto payments are not the only major use case for cryptocurrencies such as Bitcoin. On Tuesday, Coinbase, the world’s major cryptocurrency exchange Released A survey of more than 2,000 British adults showed that 41% of respondents are willing to use cryptocurrency as part of their long-term investment strategy as their main motivation; 51% of respondents said they are interested in using crypto assets to obtain loan.