13 Percent of People Uses Cryptos to Shop Online

Cryptocurrencies have gained traction, especially in the last two years to a very high extent. When it was originated, not many used to believe that it will be deployed in real-life use cases for the general public. The new way of money, which utilizes blockchain, also provides room for arbitrage, speculation, and investment. Maybe that is one of the main motives behind the mass adoption of cryptocurrencies.

A report by Cybersecurity firm Kaspersky Lab proves the fact that people are rapidly turning to cryptos. The report shows that 13 percent of the people had used cryptocurrency to process an online payment. Apart from a Cybersecurity firm, Kaspersky Lab is a Moscow based anti-virus provider, established in 1997. The firm also claims that one-in-ten people have used Bitcoin or other cryptocurrencies to buy stuff online.

The Head of Verification at Kaspersky Lab, Vitaly Mzokov believes that users are still interested in cryptocurrencies even after crashing cryptocurrency prices. He noted,

“Despite a fall in cryptocurrency prices, there is still a strong desire for digital transactions amongst consumers.” He talked about the report made by his firm, saying, “Our consumer research has found that 13 percent of people have used cryptocurrency as a payment method, which was surprising to see. However, there are also real dangers associated with online exchanges as they are still in their infancy.”

Kaspersky Lab

Here, Mzokov finds the report conclusion a bit surprising. For this report, the firm approached more than 12,000 consumers in 22 different countries. The Kaspersky report also indicates that around 81 percent of respondents have used only credit/debit cards for online purchases. This shows that, for these 81 percent of the user base, cryptos are the least popular way of payment. However, the report does not define the category called ‘online purchase.’

It is notable that one of a major reason behind the adoption of crypto assets on a larger level for payment process is also thanks to those online retail outlets which are not hesitated to deploy crypto payments in their system. The way the cryptos are being welcomed all over the world, it seems that a poster saying ‘Bitcoin accepted here’ will not be something unfamiliar.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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