According to a new survey, 70% of individuals have spent their digital assets on different things, such as food, education, transportation, entertainment, housing, clothing, and personal care.

BlockCard’s Survey Involving 35,000 Participants

The survey, involving 35,000 crypto investors, is conducted by BlockCard in partnership with Bitcoin Market Journal. The major aim of the survey is to find on which things crypto investors had used their cryptocurrency funds in the past twelve months. It included questions on which products cryptocurrency is spent and what are they going to do with crypto assets next year.

The results of the study unveiled that 70% of respondents were engaged in buying different products and services over the last year. They were also obliged to tell the products and services which were taken using crypto assets.

Major spending went to entertainment and food as 12.61 % went for entertainment and 10.92% for food. 5% of crypto holdings used to pay rent. However, the majority of crypto investors (77.31%) had purchased more digital assets.

The study has found a revolutionary change in the crypto world. In the early stages, cryptocurrency was rarely used for payments. But now, 70% of crypto holders had used them for purchasing goods and services. To get on mainstream, cryptocurrency needs to be used in day-to-day payments. It seems the past dream is taking its shape now.

The majority of individuals had spent between $100 and $10,000 over the last 12 months. People who spent more than $10,000 are only 12.22%.

Cryptocurrency as Internet Money

The survey also asked respondents about their future plans with crypto assets. 14% of investors want to HODL funds in the future. The majority is agreed on the point that they would prefer using cryptocurrency for purchasing goods. Only 9% did not give a direct answer as they were uncertain about it.

Ian Kane from BlockCard explained that people are suggested to HODL BTC, but the “data suggests that digital currency holders are actually using their ‘magic internet money’ as money.”

The future of cryptocurrency is linked with its usage as payments. BlockCard’s findings have narrated a big achievement for the crypto world.