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Survey shows people would prefer buying cryptos to buying an iPhone X
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TMCNet:  Survey shows people would prefer buying cryptos to buying an iPhone X

[January 16, 2018]

Survey shows people would prefer buying cryptos to buying an iPhone X

SINGAPORE, Jan. 16, 2018 /PRNewswire/ -- Pundi X, a cryptocurrency point-of-sale ("POS") solution provider, together with NEM.io Foundation and Stellar.org, today released the State of Cryptocurrency report, taking a close look at the cryptocurrency adoption among the mainstream consumers. A survey conducted in India, Indonesia, Japan, Russia, UK, and the USA revealed that people prefer buying cryptocurrency over an iPhone. Around 70% of the respondents agree that most people will be using Bitcoin or other cryptocurrencies in the next ten years.

Cryptocurrency has been one of the hottest topics in 2017 and will continue taking center stage in 2018. As an enabler of providing physical store owners' solution to accept crypto to fiat or crypto payment, Pundi X, together with NEM.io Foundation and Stellar.org, surveyed 3,000 people to find out the mainstream consumers' uptake on cryptocurrency and their cryptocurrency purchase behaviors.

The survey titled "the State of Cryptocurrency report" covers the range of respondents from 18 to 59 years old. The findings indicate the interest of cryptocurrency among the mainstream is high. Although only 8 percent of them currently own Bitcoin or other cryptocurrencies, over one third (39%) of the respondents consider buying cryptocurrencies in the next six months.

Here are more highlights from the State of Cryptocurrency report:

Cryptocurrency is considered a valuable digital asset

59% of respondents think bitcoin or cryptocurrency is digital money; 11% believe it is coin or bank note; 23% don't know what cryptocurrency is. When asking about what they want to use cryptocurrency for, 35% said they use cryptocurrency for trading or investment; 35% said they want to spend cryptocurrency and make purchases. 27% of them use it as a store of value.

Cryptocurrency overtakes iPhone X, the VR headset, and the drone

When asking about what the respondents will do with USD 1,000, 33% of them chose to save the money. However, 12% of them will spend it on cryptocurrency; 11% investing stock or bond; 7% on iPhone X; 6% on charity. Only 1% of the respondents want to use USD 1,000 to buy a VR headset or a drone.

Cryptocurrency owners trade frequently

Nearly half (47%) of the cryptocurrency owners have bitcoin or other cryptocurrencies more than six months. 76% of them made at least two transactions in the last three months. 23% even trade cryptocurrencies more than ten times in three months. When transacting cryptocurrency, security, privacy, and zero transaction cost are top three most important factors.

Bitcoin, Litecoin, and Ethereum are top 3 known cryptocurrencies

Among the people who own cryptocurrencies, 75% of them know Bitcoin, 35% know Litecoin, 30% know Ethereum, 27% know Ripple, 21% know Dash. There are also 20% of them know other cryptocurrencies.

Online exchange platforms are places where people are considering buying their crypto

One-fourth of people who are considering buying cryptocurrencies will purchase through local online exchange platform. 14% of them through foreign online exchange platform. People are also thinking to buy cryptocurrencies in physical offline channels, such as bank (10%), stores (9%), friends and family (8%).

'Volatility' and 'don't know how to spend' are the major challenges of purchase

When it comes to the reasons that people who don't want to purchase bitcoin or other cryptocurrencies, 21% of them said 'the value of the Bitcoin is not stable,' 19% said they don't know how to spend the cryptocurrencies, 18% indicated that they don't know what the cryptocurrency is and 17% of the respondents said they don't know how to buy it.

"From this survey, we confirmed that the uptake of cryptocurrency is high and most people consider cryptocurrency a valuable asset. As the interest of owning cryptocurrency among the mainstream is growing, there are still some challenges for the mass adoption. One of them is 'how to buy and spend' issue," said Zac Cheah, CEO, and Co-founder of Pundi X. "Few cryptocurrencies have already proven themselves as a purpose that benefits the average consumers more than cash does regarding financial inclusion and asset sharing but difficult for everyday transactions. We believe that this will improve as more and more innovative startups, like Pundi X, NEM and Stellar.org, are providing solutions to tackle this issue and bring them into the real economy."

About the report & methodology

The data was collected from Dec 21, 2017, to Jan 2, 2018. A total of 3,000 people from India, Indonesia, Japan, Russia, UK, and the USA took part of this survey through Opeepl mobile 'live sampling' technology.

Link to download the report: www.slideshare.net/PundiXLabs/

About NEM.io Foundation Ltd

NEM.io Foundation Ltd. is a non-profit organization based in Singapore, set up to promote NEM's blockchain technology globally. It is currently one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry. NEM's technology is currently being utilized in a variety of financial institutions and industries.

For more information, please visit: www.nem.io  

About Stellar.org

Stellar.org is a Silicon Valley-based non-profit organization that supports the Stellar network, a free, open-source network that connects diverse financial systems and lets anyone build low-cost financial services—payments, savings, loans, insurance—for their community. The Stellar network enables money to move directly between people, companies and financial institutions as easily as email. This interconnectivity means more access for individuals, lower costs for banks, and more revenue for businesses. For more on Stellar.org, visit http://www.stellar.org.

About Pundi X

Pundi X is a cryptocurrency point-of-sale ("POS") solutions provider for retail stores seeking to accept digital currencies in Southeast Asia. Pundi X POS enables shops, cafes and convenience stores to facilitate cryptocurrency transaction for the average consumers. Pundi X builds on the success of Pundi-Pundi, one of Indonesia's most popular QR code cashless payment apps, has already signed up more than 100,000 registered users and over 600 merchant partners in Jakarta in less than a year of operation. 

To help develop a better cryptocurrency ecosystem in different countries, Pundi X is a founding member of XPOS Consortium and Indonesian Blockchain Association. We also join Singapore Fintech Association, Fintech Association of Hong Kong, ACCESS, and Swiss Finance and Fintech Association.

Pundi X will raise its funding through the public token sale, which will officially commence on January 21 and run until it reaches the hard cap of 35 million US dollars . The team plans to install at least 100,000 Pundi X POS devices over the next three years across all target markets.

For more information, please visit https://pundix.com/.

You can also find us on the following social media channels:

Twitter: https://twitter.com/PundiXLabs
Telegram: http://t.me/pundix 
Medium: http://medium.com/pundix
Facebook: https://web.facebook.com/pundixlabs
Youtube: https://www.youtube.com/channel/UCOIf6WeLEzZi3DQxzenTZeA
Instagram: https://www.instagram.com/pundi_x/

Cision View original content:http://www.prnewswire.com/news-releases/survey-shows-people-would-prefer-buying-cryptos-to-buying-an-iphone-x-300582916.html


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