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Only 13% Have Used Cryptocurrency for Purchases: Kaspersky Lab Study

A 2018 Kaspersky Lab Study showed 13% of over 12,000 consumers from 22 countries have used cryptocurrency like Bitcoin as a means to purchase items.

About 13 percent of the people recently surveyed by Kaspersky Lab have used cryptocurrencies like Bitcoin as a payment method.

The study published as Kaspersky Lab Global IT Security Risks Survey 2018 covered 12,448 consumers from 22 countries.

Most Popular Payment Methods - Kaspersky Lab Global IT Security Risks Survey 2018

Cryptocurrency as a payment method trailed behind more popular options like direct bank transfers, e-wallets, and loyalty/bonus program points. About 33 percent and 31 percent of the respondents preferred using mobile banking wallets and contactless device payments like Apple Pay.

Meanwhile, debit/credit cards continue to dominate the modes of payment with 81 percent of the consumers opting to use said cards.

Bitcoin and other cryptocurrencies, however, have been recently accepted by more merchants, giving consumers more options to pay.

| Related: 5 Crypto Gifts Perfect for Your Family This Christmas

Low Bitcoin Usage and Adoption

Bitcoin remains the most popular cryptocurrency to date, yet the 13-percent figure indicates that the adoption of cryptocurrency as a a payment option still has a long way to go.

In November last year, blockchian analysis firm Chainalysis reported an 80-percent decline in the volume of Bitcoin transactions on crypto payment processors from January to September 2018.

Additionally, analysis site OTX showed last year a 50-percent drop in terms of the number of crypto transactions on the Canadian-based crypto payment company Coinpayments.

| Related: Less and Less Are Using Bitcoin (BTC) as Electronic Cash, Numbers Show

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