We collected 15,976 responses during the course of the survey. The main takeaways from the survey are listed below.
Quick Take Away:
- Respondents had on average 2.35 years’ experience in crypto;
- 54% of respondents treated cryptocurrency as an investment; 26% as technology and only 21% as a currency. However, 73% of respondents believed that crypto should be utilized as a currency to qualify as “mass adoption”;
- 92% of respondents were optimistic on crypto adoption for the next 5 years. The number is very high, and we are excited to see this encouraging result;
- The most commonly used crypto products / services were Crypto Exchanges, Custodial Wallet and Hardware Wallet;
- Among respondents who claimed they have used crypto exchange(s), 41% of them were fundamental traders, 24% were technical traders and 34% didn’t know what kind of trader they were;
- Only 36% of respondents had experience on direct crypto payment. Electronics products were the most purchased goods for them;
- 61% of respondents believed that “More merchant acceptance” was the key for crypto payment adoption, followed by lower fees (48%) and faster speed (48%);
- We allowed respondents to enter free text for the question “how we can bring crypto to the mass public”. After parsing the answers, the most common responses were Marketing (1,499), Education (1,117) and User Experience (845).
Read the full PDF version of the Crypto Adoption Survey 2020 here.
