Friday, December 4, 2020
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Home Tips & Tricks Drugs and guns? No. Clothes and food. How do people use crypto?

Drugs and guns? No. Clothes and food. How do people use crypto?

Has the perception of the cryptocurrency changed over the years and the stigma that a person with a crypto wallet is a drug dealer disappeared?

What are cryptos for?

In a survey published by Visual Objects analytical company, it was found that food and clothing purchases are the most common cases of crypto payment. There is a gulf between people’s perception and the actual state of affairs. According to the surveys, the most common response of people, for which cryptos are used, was – illegal items.

Survey shows that people think that others use crypto to buy illegal stuff like weapons or drugs

Survey results

A survey conducted by researchers in the United States on a group of 983 people who were familiar with cryptocurrency, asking what people use crypto for, they got various answers. The most answers (40%) were stocks, but in 2nd place (30%) they were illegal items.

Survey whta people think crypto is used for

Actual data show that most often food (40%) and clothes (34%) are bought for crypocurrency. On the list, drugs (11%) and weapons (15%) are the lowest, and actions (29%) that people thought were the most common reason for using cryptocurrency are in the middle. The survey and actual results do not coincide, on the contrary, people’s judgments were wrong.

What people buy with cryptocurrencies in 2020

What does that mean?

When analysing surveys on the best form of payment, about 40% of all respondents indicated digital payments as the most convenient payment among all others. Every month an increasing number of people around the world are becoming more and more convinced about online and digital payments, which only shows us that digital currencies are on the right track for mass adoption and that their potential can improve existing payment infrastructure.

Despite optimistic expectations and a bright future for digital currencies, they are slowly gaining in popularity. Many experts and cryptographers say that technology is still at an early stage and digital currencies still have a long journey ahead of them.

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