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Cryptocurrency is gaining ground among consumers who want to use it for purchases, according to a new report. Out of more than 8,000 U.S. consumers surveyed, 93% of crypto users would make purchases with cryptocurrency in the future.

A growing number of people want to pay with cryptocurrencies

A new report titled “The Cryptocurrency Payments Playbook: Cryptocurrencies Gain Momentum As A Payment Option” published by Pymnts and Bitpay shows that consumers are increasingly interested in using cryptocurrencies for payments.

“The report analyzes a balanced census survey of 8,008 US consumers who were current and former cryptocurrency owners and non-cryptocurrency owners between February 8 and 23, 2021,” he explains. , adding:

Interest in cryptocurrency is gaining ground among consumers who want to use it for their purchases.

The study found that 93% of crypto users would consider making purchases with cryptocurrency in the future, while 59% of those who have never held crypto are interested in using it to make purchases. purchases in the future.

Additionally, two-thirds of users who have held cryptocurrencies purchased them to transact as an alternative payment method to cash or cards.

“Cardholders and non-cardholders are interested in cryptocurrency payments because of the enhanced privacy and security features possible over traditional payments by credit card or bank account,” the report notes, adding:

The reasons for interest vary depending on the transaction. Its potential to eliminate intermediaries may explain the interest in using cryptocurrency for real estate purchases, for example, while the possibility of more secure and private transactions motivates purchases in the financial services or e-commerce sectors.

Additionally, 59% of current or former cryptocurrency holders would be “very” or “extremely” interested in using cryptocurrency as a payment method if it meant they could get discounts.

Would you use cryptocurrency to make purchases? Let us know in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

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