Anti-Tech Consumers Prefer Crypto Payments, Report

According to a recent report by PYMNTS, “tech-averse” consumers prefer to use cryptocurrencies for regular payments.

The report, called “Shopping With Cryptocurrency: Tech-Driven Consumers Drive Market Acceptance,” shares the main reasons people are interested in digital assets and divides them into three categories based on their tech knowledge — Basic-Tech, Mainstream, and Tech-Driven.

The survey was taken between 1,096 respondents who “hold” crypto assets at the moment or “held” it within the past 12 months.

The majority of the consumers, 52%, who used cryptocurrencies for “investment reasons” are the mainstream tech users, according to the survey. People who are tech-driven or have basic tech knowledge come second, 42.4%, and third, 36.1%, respectively.

Furthermore, 39% of the respondents from the basic-tech category were mostly interested in crypto transactions while the majority of digital asset users who have a “fear of missing out” come from the tech-driven branch. The study reads:

The mainstream consumers were by far the least interested in paying for goods and services with crypto. With just 26% favoring payments, the mainstream group was twice as interested in buying crypto as an investment — a far larger gap than the tech-friendly. The tech-averse were 3% more interested in payments than investments.

According to a U.Today report in September, more than 500 million investors might enter the crypto markets by 2030. The report noted that the fastest-growing regions are Africa and Asia.