Dismantling some myths about the use of cryptocurrencies

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The Visual Objects portfolio portal, which shows the work of some of the main creative companies from around the world, recently published a survey in which 983 people who either know or use digital currencies have participated, which leaves more than interesting data.

Despite the fact that it has been around 11 years since the cryptocurrency as we know it today is in progress around the world, the vast majority of people still do not have a firm understanding of how it really works and the most frequent uses to which it is used. those who are dedicated.

How could it be otherwise, this ignorance has generated some doubts and numerous myths around it. So much so, that even many of the people who are familiar with the cryptocurrency, sometimes get carried away by this current and give it some alleged uses that do not correspond to reality at all.

Almost three-quarters of users use a cryptocurrency

At the outset, this survey shows us that, despite the fact that only 16% of those surveyed have actually invested in cryptocurrencies, the majority think that this market is open to a great variety from which to choose when making use of it. of them. Meanwhile, reality tells us that, although the number of these digital currencies is counted by several thousand, the truth is that only a handful of them have a real value and that 70% of their owners have bought Bitcoin.

How and in what is cryptocurrency used

One of the most widespread myths is that the vast majority of cryptocurrencies are used in the acquisition of illegal items. To be more exact, 30% of the people who are familiar with digital currencies have the perception that this is so, but the most surprising thing is that 28% of the individuals who actually own cryptocurrencies also believe it.

Meanwhile, 40% of those surveyed believe that its main use is to buy stocks and only 14% of people think that it may be destined to obtain more mundane items such as food.

Well, the truth is that this study indicates a very different objective in the ranking of transactions. And it is that 38% of people who own cryptocurrencies have used them to buy food, while 34% have used them to buy clothes. 29% have dedicated their use to the acquisition of shares and 21% have invested in the purchase of gold.

It is obvious that cryptocurrencies are also very present in other types of operations. In recent times they have taken on a good deal of prominence when it comes to online leisure. Gamers and video games are becoming an important segment in the cryptocurrency economy, not to mention the wide variety of online casino games for those who for years now have been incorporating blockchain technology and this payment system as a way to strengthen and streamline their transfer methods.

On the other hand, no one doubts that, based on its greater degree of anonymity, cryptocurrency can be more used in the acquisition of disreputable items than other payment methods such as Paypal or the credit card, although it is true that both Bitcoin and Ethereum have implemented some ways to track who buys what.

Companies that join the cause

Although it is still far from reaching an absolutely widespread use of cryptocurrency, every day there are more large companies that support it. Both Expedia and Cheap Air accept Bitcoin when purchasing flights. The same currency is accepted as a form of payment in the US mobile operators AT&T and Virgin Mobile. Microsoft also allows the use of Bitcoin in its Xbox department, as does KFC Canada as a form of payment for your food.

Sports franchises are also joining this trend. The Dallas Mavericks accept Bitcoin for purchases at their stadium and website, while the Miami Dolphins allow their fans to purchase tickets and food with both Bitcoin and Litecoin.


The press releases published by Crypto Economy have been sent by companies or their representatives. Crypto Economy is not part of any of these agencies, projects or platforms. At Crypto Economy we do not give investment advice and we encourage our readers to do their own research.



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