Adoption of Bitcoin: Cryptos, a popular means of payment in the world?

More and more attractive cryptos – Between August and September this year, the consultancy has Accenture led a research with 16,000 consumers from 13 countries in Asia, Europe, Latin America and North America to determine the different trends in terms of payment methods. The research report titled “Payments become personal”which contains the results of this study, reveals figures ofadoption of cryptocurrencies.

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Cryptos: an investment vehicle rather than a payment method?

With regard to means of payment, most of them consumers prefer use modes of traditional rules. 69% of survey respondents still use credit cards for purchases, while 31% have chosen alternative payment methods. On this last segment, only 4% of consumers stated that cryptocurrencies was their preferred alternative payment method.

Consumers’ Preferred Alternative Payments – Source: Accenture

Although cryptocurrencies are far from the preferred payment method for consumers at the moment, 20% of the respondents say that they holding cryptocurrencies. 28% of them bought cryptocurrency as a long-term investment. 22% dove into the cryptosphere out of curiosity. And 17% use cryptocurrencies as a means of payment, while 12% use them for cross-border payments.

Why do consumers buy cryptocurrencies?
Why Consumers Buy Cryptocurrencies – Source: Accenture

In a completely different way, Accenture’s report also revealed that 23% of the survey participants indicated that they trust in crypto wallets to provide a secure environment for payments and purchases.

These figures on the adoption of cryptocurrencies from the Accenture study should be compared with the data published by other organizations on the same topic. The study of JP Morgan Chase for example, has shown that the adoption of cryptocurrencies has increased by 10 points in the USA.

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