70% of the Crypto Owners Barely Use Crypto Transactions


In a recent survey, it has been found that the majority of the Cryptocurrency owners barely use the crypto for making any payments. One of the unexpected reasons that have been theorized for this is that some people are still nervous and hesitant about making the Cryptocurrency transactions. The survey revealed that just 30% of the people during 2018 did use Cryptocurrency as a mode of payment. This was concluded from a survey conducted of over 200 Cryptocurrency owners by the Foundation for Interwallet Operability (FIO). The people were asked a lot of questions and about their experiences in transactions that shed some light on the issues that are still holding back a larger mass from using the Cryptocurrency.

As per the findings, in the year 2018, only 30% of the crypto users sent any coins to a third party or alternative account at least once a month. 43% of the respondents did send coins to another party or made a purchase with the Cryptocurrency only a couple of times in the entire year and most interestingly, 27% of the respondents did not even do once. This implies that 70% of the crypto holders wither never used the Cryptocurrency or have barely used the Cryptocurrency for conducting any type of the payments. The research also opened up that 13% of the owners have never used a wallet that stores their private keys.

One of the reasons that the responders are held back from using their crypto assets but storing them is that they are highly nervous about completing the transactions. As per the survey, only 25% of the responders who have sent Cryptocurrency to other people were actually comfortable doing it while 58% of the people felt optimistic. This variability in the survey is because of the people are unsure of how the system works.


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