Survey: 70% of Cryptocurrency Owners Rarely Use Crypto for Payments
The Foundation for Interwallet Operability (FIO), a consortium of crypto wallets, exchanges, and payment processors, has conducted a survey of over 200 cryptocurrency owners. They were asked multiple questions about their experiences in transacting, shedding light on the issues that are holding back wider usage.
The findings show that during 2018, only 30% of users sent any coins to a third party or alternative account at least once a month. 43% of respondents sent coins to another party or made a purchase with crypto only a few times during the entire year, and 27% didn’t even do so once. This means that 70% of crypto holders either never or rarely use cryptocurrency for making any type of payments.
The research also found that 13% of owners never used a wallet that stores their private keys. Regarding the diversification of digital asset portfolios, about half of those surveyed hold between one and five different cryptocurrencies at the same time, another quarter hold between six to 10, and about one in 10 holds over 20 different coins.