Categories: Bitcoin Business

New FIO Report Suggests 60% Users Are Still Scared of Making Bitcoin Payments

Click here to view original web page at www.cryptovibes.com

Blockchain Usability Report by Foundation for Interwallet Operability (FIO) shows a majority of users are still scared of making Bitcoin payments. While the crypto industry is trying to move towards wider acceptability and adoption of digital coins, the people who have entered the ecosystem are still wary of using it.

Crypto should become easier for people

Cryptocurrency exchange XCOEX recently took to Twitter to share stats from the Blockchain Usability report by FIO. It wrote,

“According to @joinFIO recent research, 60% of crypto users are still scared to make a bitcoin payment, and only 11% of people who used crypto in 2018 did so more than once a week It is time for crypto to become easier!”

FIO noted that it targeted the users between December 2018 and February 2019 and targeted a general crypto user population regardless of age, gender and job title. Of the 231 responses FIO collected, 217 people actively held some crypto throughout 2018. The study also took figures by Bitcoin Market Journal and Bloomberg, which estimates the population of crypto holders to 25 million.

What does the survey reveal?

The research report suggests that at last 55% of crypto users, who actually made a transaction last year, had multiple problems or concerns with their transaction. The most common issue, reported by about 35% of the respondents, included the use of public addresses, especially about the accuracy of these addresses.

New FIO Report Suggests 60% Users Are Still Scared of Making Bitcoin Payments

About 24% of the users thought that the public address of their transaction had been manipulated. About 18% of the users reported a loss of funds or failed transactions owing to user-error. Another 6% reported that they lost funds via man-in-the-middle attacks or phishing attacks.

The research also shows a lack of confidence among users. About 25% of respondents who sent money to someone else felt “very comfortable” about the transactions immediately after sending. 58% of users were cautiously optimistic while 17% felt anxious about a transaction.

The report also suggests that a whopping 27% of users haven’t sent crypto to anyone in 2018. About 30% of users sent crypto monthly while 43% have sent crypto only a few times. This shows that the market is currently full of traders and HODLers, but there aren’t many spenders yet.

More details are available on the FIO website and their published report.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Bitcoin {BTC} founder Satoshi Nakamoto will allegedly disclose his identity; Charlie Lee rejoices with regards to Bakkt launch

Satoshi Nakamoto was the man behind Bitcoin. His personal identity has remained secret for over a decade. Some believe that… Read More

2 hours ago

Crypto Community Reacts to Bakkt But Not all Are Bullish

The news that regulatory approval has finally been granted to Bakkt has generally been perceived as bullish for the industry.… Read More

2 hours ago

Bitcoin is not behaving like a safe-haven asset, says Ikigai founder Travis Kling

Kling doubts whether Bitcoin is ready to assume safe-haven responsibilities like its peers such as gold. Kling did note Bitcoin’s… Read More

2 hours ago

Istanbul Hard Fork: Ethereum Devs Agree to Make Six Different Code Changes

The developers of Ethereum (ETH), the world’s largest platform for building decentralized applications (dApps), have finalized six different codebase modifications… Read More

2 hours ago

Blockchain Voting System in Moscow Municipal Elections Vulnerable to Hacking: Research Report

A recent research report by a French cryptographer demonstrates that a blockchain voting framework utilized in Moscow’s municipal elections is… Read More

2 hours ago

What Would It Take To Build A World Without Globalists?

Authored by Brandon Smith via Alt-Market.com, You can bet that whenever you find people analyzing the root of a problem… Read More

8 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More