A study shows that the main purpose of cryptocurrencies is not to buy illegal things – crypto trends

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We have cross-information on the studies done on the use that users typically use to use cryptocurrencies, which means that a study done by Visual Objects found that cryptocurrency owners use Bitcoin and other currencies, to buy groceries and clothing, although a third of the respondents said they used it to buy stocks and illegal items.

Visual objects Findhe was 983 people familiar with cryptocurrencies and 157 cryptocurrency owners. The first group was asked what they think cryptocurrency owners would rather buy.

The 40% of them said that cryptocurrencies are mainly used to buy stocks during the 30% mentioned illegal objects. Very few suggested that cryptocurrency owners buy Clothing (15%) and food (14%).

They also noted that using different cryptocurrencies tends to suit their personal preferences, but they also include stock purchases and other completely legal ones.

The truth

In fact, the picture is very different, at least from the perspective of the cryptocurrency owners themselves.

So there are two myths that have been exposed according to the study. That the crypto market is open and offers many options to choose from and use, and that these currencies are managed for mostly illegal purchases.

In truth, that’s a lot of people who use cryptocurrencies actually own Bitcoin instead of another cryptocurrency even though there is a part that uses crypto assets to buy drugs and other illegal things, in reality Most of it is used for food and clothing, among other things.

A study shows that the main purpose of cryptocurrencies is not to buy illegal things

Image courtesy of Visual Objects

These expressed that they use their wallets to buy groceries (38%)dress (34%)Actions (29%) and gold (21%). In addition, the 15% admitted that they bought weapons and that 11% bought drugs with cryptoactive.

The most popular crypto assets include: Bitcoin with a 70% of those interviewed with this cryptocurrency followed by Ethereum with a 27%then Litecoin who has one 20% and finally Dogecoin with a 15% of users.

A study shows that the main purpose of cryptocurrencies is not to buy illegal things

Image courtesy of Visual Objects

According to the North American insurer Hartford steam boiler (HSB), reported that the 36% of U.S. SMEs accepted crypto asset payments.

On the other hand Coinbase reported last month that your card could be used to deposit Google Pay.

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