Visual Objects survey points new trends of digital currency purchases

Bob Coiney

April 22, 2020

Visual Objects – A research firm has discovered that people have commonly used cryptocurrencies the most while purchasing food as well as clothing. The research findings pointed out the major differences between what is reality is and what people really perceive cryptocurrency as. A considerable number of respondents also mentioned that they use cryptocurrencies for illegitimate and clandestine trading.

This survey took place among 983 respondents in the US who are well aware of the working of the currency. Out of the 983 respondents, 120 were those who had used the digital currency to make purchases.

In a ranked use, 40% of the survey-takers said that their use of crypto would be price speculation. A good 30% used it to buy legally restricted goods and 23% used it to buy electronic goods. Perhaps the lowest scored items of purchase with digital currency are clothing and real estate that has taken 15% of the pie. Food comprises 14% of the purchases with the digital currency. 

The survey was taken by Visual objects in order to get an understanding of how people view digital currencies and how they use it to get an idea about what lies in store for the future. Only 16% according to the survey are investing in cryptocurrencies, with some valuable data available to industry watchers regarding its popularity and maturity. The survey was an eye-opener to those who had a completely different standpoint about how digital currency is viewed and utilized.

As is apparent, initially people believed that investment in stocks could be the biggest use of cryptos, but the survey highlighted that a whopping 38% was used to purchase food items that comes last in the perception list. In the actual scenario stock investments have gathered a share of 29% below clothes. While weapons and drugs took 15% and 11% respectively it is clear that cryptos are also used to purchase regular items of usage. 

All this points out to the rising trend of digitalization of currencies and people who prefer using it online even for the most common of items. 

Image Source – CoinNewsSpan