Only 30% of owners use their cryptocurrency for payments

According to a recent survey, for 2018, only 30% of the owners of scriptaction sent them to third party accounts once a month and more often. Another 43% did so during the year several times, and 27% did not commit such a transaction, that is, 70% of owners of cryptocurrency rarely or never used the cryptocurrency for payments.

The survey, which was attended by 200 owners of scriptaction, was conducted by Foundation for Interwallet Operability (FIO) — a consortium of operators of cryptocurrency wallets, exchanges and payment systems. Respondents were asked questions about their transaction experience.

About half of the respondents purchased the cryptocurrency in the last two years, only about 26% owns digital assets over three years. 50% hold in wallets from one to five cryptocurrencies, 26% — up to 10 scriptaction, 13,6% — up to 20 coins.

One of the reasons why users do not use their cryptocurrency for payments, is that the majority continues to worry about the successful completion of the transaction. According to the survey by sending the funds, only 25% feel “very comfortable”, 58% describe the sensation as cautiously optimistic, 12% have some concern, and 5% nervous. It is not surprising that with the experience of cryptocurrency transactions are perceived safer among holding more than 3 years digital assets 40% do not feel any discomfort during the transaction, and the users up to 3 years, this figure drops to 21%.

Among the most frequent problems faced by users in the implementation of cryptocurrency transactions was unclear and called the high Commission, prolonged and indefinite terms of confirmation, as well as errors with the format of the addresses and purses/assets.

We will add that according to the survey, commissioned by the financial regulator in the UK, the majority of investors buying cryptocurrencies in anticipation of their price increase, not for use as means of payment.


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