Kaspersky: 80% of People Have Never Purchased Cryptocurrency

Four in five people have never purchased cryptocurrency, according to the survey published by Russian cybersecurity firm Kaspersky.

Titled “The Kaspersky’s Cryptocurrency Report 2019”, the report was conducted in October and November 2018 with a total of 13,434 consumer from 22 countries.

Exhibit 1: Why do people stop using cryptocurrencies?

Source : Kaspersky

According to Exhibit 1, the factor that holds most people back from using crypto is the high volatility (31%). The fall in value for crypto (23%) and lack of profitability are the other key reasons. In addition, only 10% of people said they fully understand how cryptocurrencies work.

The paper concluded that trust is important for consumers to adopt cryptocurrency. The author emphasized that companies and institutions need to build trust by working with legislators to adopt the latest security solutions on blockchain.

Thumbnail Image Credit to Shutterstock