U.S.-based Software Advice offers recommendations and research on business apps in roughly 300 market categories, including medical, customer management, human resources, construction, and marketing automation.
Software Advice’s latest survey, “Cryptocurrency in Ecommerce,” was conducted in May 2022 among 596 U.S. consumers who have used crypto as a form of payment when shopping online.
According to Pew Research, just 16% of U.S. consumers have used crypto as of November 2021. The Software Advice survey focused on those users.
All respondents had used cryptocurrency to make online purchases at least monthly from June 2021 through May 2022. Among respondents who plan to increase their online retail spending using crypto, 62% were between 18 and 35.
According to the survey, 56% of retail crypto transactions from June 2021 through May 2022 were between $100 to $500.
Most of the respondents used cryptocurrency for shopping, not investing.
Despite the enthusiasm of users, most U.S. consumers remain skeptical. According to Bloomberg’s “MLIV Pulse” survey on July 5 – 8, 2022, retail investors are more skeptical of cryptocurrencies than institutional buyers.