New Study Shows Biggest Hurdle For Cryptocurrencies Is Purchasing Process


CreditCoin Preliminary Survey Results

Over 75% of Millennials More Likely to Date Someone Knowledgeable About Cryptocurrencies

With Bitcoin, blockchain and cryptocurrencies dominating headlines across the world, CreditCoin surveyed 1,000 consumers in the United States who were somewhat familiar with Bitcoin to better understand who owns cryptocurrencies, how it is being used and cultural perceptions about ownership.

Of those surveyed, almost 40 percent of Millennials have owned cryptocurrency, more than both Gen X (24 percent) or Baby Boomers (15 percent). Millennial males are twice as likely (48 percent) as millennial females (26 percent) to own cryptocurrencies. Roughly 60 percent of those who do not own cryptocurrency wish they did.

Of those that don’t own cryptocurrencies, 42 percent say it’s because they don’t know how to purchase it. Another 44 percent say their biggest concern is how difficult it is to purchase. When it comes to owning cryptocurrencies, 64 percent of millennials worry about security, compared to 55 percent of Gen X and 54 percent of Baby Boomers.

Three-quarters of people surveyed would be more likely to date someone who is knowledgeable about cryptocurrency. In fact, respondents would choose someone who has all their savings in cryptocurrency over someone who has over $50,000 in student loan debt.

Surprisingly, the majority of respondents would choose to date someone who is divorced with a child over someone who has all their money in cryptocurrency. Shockingly, 12 percent of respondents said they would rather date a non-violent felon than any of the three other choices.

Other interesting facts include:

  • 80 percent of those that own cryptocurrency do so for investment purposes
  • Over half of respondents can imagine having 10 percent of their savings in cryptocurrency in 10 years
  • Three-quarters of consumers would like to be able to use cryptocurrency in brick-and-mortar stores, 84% of Baby Boomers would like to
  • When asked what they would do if given $10,000 more people (39 percent) would buy cryptocurrency before a house (33 percent) or a car (28 percent)
  • Some of the most interesting items respondents have purchased with cryptocurrency include a dog, a wedding, and 4 cases of Sriracha