Though there are some users who are continuously holding their digital assets into their accounts, not all of them are storing their cryptocurrencies into their wallets and exchanges’ accounts. A new survey has revealed an interesting fact saying that more than 70 percent of the participants have been using their digital currencies for purchasing foods and for other different services.
Cryptocurrency users are actively spending their digital assets
A survey in the cryptocurrency community was conducted by BlockCard in collaboration with the Bitcoin Market Journal for finding out the average spending habits of cryptocurrency users in the community. More than 35,000 investors from the cryptocurrency community participated in the survey and responded to the questions asked by the researchers.
They were asked whether they have used their digital assets during the period of the last twelve months or not and if they have spent their assets then what products or services they have purchased through their cryptocurrencies. Also, researchers asked them whether they intend to spend their assets in the next year or not.
Well, researchers were surprised to know the answers of users once they saw the results of their findings. According to their survey, more than 70 percent of the total respondents surprisingly said that they have been spending their digital assets during the last twelve months for buying goods such as foods and clothes. While on the other hand, the remaining 29.53% said that they have not spent their cryptocurrencies during this period.
Moreover, out of the total 70% who claimed to have spent their digital currencies during the past one year 10.92 percent used their digital coins for purchasing food, 8.4 percent of them bought clothes with crypto, 8.4 percent spent their assets on education, more than five percent of them used their crypto for paying rents, and approximately 12.61 percent used cryptocurrencies for entertainment.
While on the other hand, around 77.31% have used their digital currencies for buying more crypto assets, the survey said.
The amount that cryptocurrency users spent
Furthermore, these investors were asked about how much they had spent within the duration of the last twelve months. In a response to this question, 58.78 percent said that they used cryptocurrency worth $100 and $10,000 during the last twelve months.