Payments in cryptocurrencies similar Bitcoin (BTC) make upwardly one of the biggest use case demands amid consumers alongside long-term investment, according to new data.

Pymnts, a major payments-focused publication, released Monday a report on consumer preferences regarding cryptocurrency payments. Dubbed "Cryptocurrency Payments Playbook: Cryptocurrencies Proceeds Momentum As A Payment Option," the written report analyzes a survey of over eight,000 consumers in the United states, including existing and former crypto holders, every bit well as crypto non-owners.

Conducted in collaboration with crypto payment firm BitPay, the study institute that crypto holders and non-owners are interested in crypto payments. As many as 93% of responding crypto users indicated that they would consider making purchases in crypto in the future, while 59% of consumers who have never held crypto are interested in using it to make purchases.

More than 60% of crypto owners said that they were "very" or "extremely" interested in using crypto every bit a payment method to make online purchases more individual or secure, while 23% of not-owners showed interest in using crypto for these purposes. Moreover, 57% of crypto owners also indicated that they would be interested in making online purchases in crypto if such payment options were automatically bachelor at the checkout. In comparing, nearly 21% of non-owners expressed the aforementioned interest.

Source: Pymnts

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Despite both crypto owners and non-owners expressing pregnant interest in making payments in crypto, the level of crypto payment adoption is still low. The report noted that more than 50% of not-owners "agree" or "strongly concur" that there are non enough merchants accepting crypto for payments. Another xxx% indicated that using crypto every bit a form of payment would make them spend more than they would when using only traditional methods similar credit cards.

Crypto payments is not the sole major use instance for cryptocurrencies like Bitcoin. On Tuesday, major global crypto exchange Coinbase released a survey of over 2,000 British adults showing that 41% of respondents were willing to buy crypto equally part of long-term investment strategy as their fundamental motivation; and 51% of respondents said that they would be interested in taking out a loan past using crypto holdings.