04 Jul 44% of buyers say cryptocurrency purchases difficult
New research from CreditCoin shows 60% of those who do not own cryptocurrency wish they did but 44% say the biggest challenge is the difficulty and complexity of buying digital currencies.
The report provides valuable insight into cryptocurrency buyers interests and preferences and shows the industry has long ways to go in reaching mainstream investors and users.
“Purchasing cryptocurrency at other exchanges can be technologically challenging,” said Jennifer Hansen, spokesperson for CreditCoin. “Cryptocurrency is undeniably here to stay so we created CreditCoin to make it possible for everyone to participate without being required to know anything about e-wallets or connecting their bank account to an exchange.”
40% of millennials have owned cryptocurrency
Researchers interviewed 1,000 US consumers who were somewhat familiar with bitcoin to get insight into ownership, use of cryptocurrency and cultural perceptions of virtual currencies.
40% of millennials reported owning cryptocurrency with males twice as likely (48%) to own digital coins compared with females (26%).
24% of Generation X and 15% of Baby Boomers also reported they owned bitcoin or altcoins.
Security is a big concern
Not surprisingly, security is a big concern for all cryptocurrency owners with 64% of millennials worried about security, compared to 55% of Gen X and 54% of Baby Boomers.
Other cryptocurrency insights
Researchers turned up a number of other interesting insights into cryptocurrency owners:
- 80% own cryptocurrency for investment purposes
- over half of respondents can imagine having 10% of their savings in cryptocurrency in 10 years
- three-quarters of consumers want to use cryptocurrency in brick-and-mortar stores
- if given $10,000, more people (39%) would buy cryptocurrency than a down payment on a house (33%) or a car (28%)
- some of the more interesting purchases with cryptocurrency included a dog, a wedding and 4 cases of Sriracha hot chili sauce.
Love & bitcoin
The research also showed that romantic and cryptocurrency interests have some connections.
Forget Tinder. Three-quarters of people surveyed said they would be more likely to date someone who is knowledgeable about cryptocurrency.
If you’re obsessive about cryptocurrency, the majority of people surveyed would choose to date a person who is divorced with a child over someone who has all their savings in cryptocurrency and 12% of respondents said they would rather date a non-violent felon.
So, like your cryptocurrency but don’t let it overtake your life if you want to be successful dating other cryptocurrency lovers.
You can get more information about CreditCoin on their website.