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How Many People Are Ready to Use Crypto for Purchasing Right Now? Exeno Survey Answers

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Fri, 07/09/2021 - 11:05
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Vladislav Sopov
Exeno unveils the results of its inaugural research of cryptocurrencies adoption
How Many People Are Ready to Use Crypto for Purchasing Right Now? Exeno Survey Answers
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Exeno, a first-ever crypto-only marketplace, concludes a survey that was designed to display the attitude of average people towards cryptocurrencies. 

In particular, the researchers were focused on holding strategies of crypto owners and their plans to use their coins for retail purchases. What’s going on in retail crypto usage - and how does Exeno meet the requirements of changing markets?

65% of customers are ready to buy with crypto: Exeno

In June 2021, a pioneering crypto marketplace Exeno organized a survey to study crypto holdings and spending patterns of modern customers. U.Today proudly joined this survey as a flagship media partner.

The respondents were asked about their focuses and strategies in crypto investing, most important goals of putting money in crypto, as well as about their opinions about the present state of affairs regarding retail crypto usage.

Hundreds of crypto owners shared their views with Exeno. Two thirds of them gave a positive answer on the question about whether they are ready to buy goods ‘such as smartphones, tablets, computers, games consoles’ with cryptocurrencies. 65% of respondents answered ‘Yes’ while 32% are still not ready to buy with crypto.

It’s interesting that people shared different opinions on why they are not planning to spend their crypto. Mostly, they stick to the ‘HODL’ strategy as they are sure that the value of their allocations will increase. This strategy was chosen by 23% of those who answered. Moreover, 6% of crypto owners are going to hold their assets until retirement as they treat them as a reliable long-term investment tool.

While describing their primary targets of buying crypto, people shared mixed opinions. 51% of them are accumulating crypto for extra profits while 50% treat digital assets as a passive income instrument; people were allowed to give more than one answer. 

The advocates of spending crypto on goods also have mixed motivations. Mostly, they are excited by the convenience of crypto for large-scale purchasing: 21% of those who answered treat crypto as an instrument for ‘big deals’. It looks predictable as crypto allows to prevent large transactions from being tracked by tax watchdogs and other regulatory bodies. Meanwhile, 28% are treating digital coins as just another way to spend money. 17% noticed that buying goods with crypto implies zero extra fees (card service fees, VAT, etc.) and therefore looks profitable.

Also, 32% of respondents are using cryptocurrencies as their retirement saving instruments while 10% of crypto owners are ambitious enough to plan purchasing luxury goods with digital coins.

Real estate, cars, yachts: Spending crypto in 2021

The most exciting part of the survey covered the categories of goods crypto holders are ready to buy with their ‘Magic Internet Money’. Surprisingly, luxurious swag isn’t the champion of this race: more than half of respondents are interested in buying real estate objects with their tokens.

45% of crypto advocates are interested in purchasing cars with crypto while 33% wouldn’t mind buying electronic devices. 12% of holders expressed the interest in buying yachts with their crypto bags.

Those who choose the ‘Other’ category shared that they are ready to spend their crypto on groceries or pay for travel expenses. Also, some crypto maximalists answered that they are ready to buy ‘everything’ with digital assets.

What stops strong hands from buying with crypto?

Being a part of a team of cutting-edge crypto-focused businesses, Exeno researchers attempted to indicate the main barriers that prevent retail customers from buying goods with crypto. 

Predictably, a mediocre level of crypto adoption by top retailers was named as the most cumbersome barrier. 36% of respondents answered that cryptocurrencies are not accepted in the most popular online marketplaces.

24% of crypto holders find the procedure of buying goods with crypto irritating and complicated. For 19% of respondents, exchange rates in crypto-friendly markets are unfavorable; so are transactional fees for 14% of crypto holders. That’s why only 22% of respondents actually have an experience of buying goods with crypto.

At the same time, the lion's share of respondents are interested in both increasing crypto allocation and starting to buy goods with digital coins in a short-to-mid-term perspective. 46% of respondents are going to start buying goods with crypto in next year, while 64% of holders shared their plans to increase their cryptocurrency positions. Also, 55% of the survey participants are planning to start spending allocated cryptocurrency in the next three years while 23% don’t mind starting right now. Only 8% of Exeno visitors will keep their assets for 10 years or more.

How Exeno built its all-in-one crypto marketplace tailored for crypto holders’ needs

In its novel business model, Exeno marketplace addresses all the bottlenecks of crypto usage in retail disclosed by the survey. Exeno is run by an EU incorporated crypto-first start-up Exeno s.p. z o.o.

This marketplace boasts a variety of positions; Exeno customers don't need to cash out their coins in order to buy on mainstream platforms. 

Electronics, Fashion, Home and Garden, Children, Culture and Entertainment, Beauty, Health, Automotive, Sports and Tourism, and Collections and Fine Art are the most popular categories on Exeno.

Exeno lists all the latest models of popular devices (smartphones, laptops, TV, and so on) to ensure an unparalleled customers’ experience. Thus, all the latest releases by Apple, Samsung, Xiaomi, Lenovo will appear in Exeno’s dashboard.

Global shipping of goods is available for every Exeno client; some of them can also try ‘Tax Free’ options (depending on the country of residence of this or that customer). Clients can familiarize themselves with all details of Exeno operations in its 24/6 online support (except Sundays). The detailed F.A.Q. section explains the processes of buying on the platform in a detailed manner as well as the conditions of warranty, customer protection, insurance and shipping. 

Exeno’s string of payment methods include Ethers (ETH), Bitcoin (BTC), and Bitcoin Vault (BTCV) cryptocurrencies. The latest one suits perfectly for buying goods with digital assets: it leaves a window for reverting the transactions, thus, there is no way for fraudulent activity on Exeno.

Also, the marketplace periodically launches lucrative bonus initiatives. For instance, all participants of the abovementioned survey were granted a 10% discount on all goods available on the platform. 

Related
Are You a Hodler? Crypto-Friendly Exeno Announces Poll with 10% Discount for Participants

Besides limited bonuses and offers, Exeno features one of the most generous affiliate programs. Any user can get a referral link to enjoy a multi-level passive income program: 10% of their affiliates net purchasings will be paid to the link owners. This bonus is paid in Exeno tokens, a platform’s core native cryptocurrency. Exeno tokens are also used in cashback programs: once the order is paid correctly, 10% of its value goes to the customer.

That said, Exeno thoroughly analyzes the entire feedback from the cryptocurrencies community. Based on surveys like the one mentioned above, Exeno constantly improves its service level to mitigate every bottleneck met by crypto owners in retail purchasings.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)