Exeno, a cryptocurrency-focused marketplace, concluded a survey of digital asset owners that focused on their crypto spending and saving habits. The research was aimed at finding out how customers in the retail space use crypto for purchasing goods and plan their investment strategies. Exeno Surveys Crypto Customers on their Motivations for Investment The poll surveyed hundreds of cryptocurrency owners and asked them to share their reasons for purchasing digital assets and their opinions on crypto usage in the retail sector. Almost 65% of the participants expressed that they were willing to buy electronic goods such as smartphones, gaming consoles, computers, and tablets using cryptocurrencies. Although, 32% stated that they would not use their holdings for such purchases. Most respondents who showed disinterest in using cryptos for retail shopping had varying reasons for their answers. But HODLing appeared to be a common denominator among most of them. Nearly 23% of those who disagreed with retail crypto purchases believed the value of their holdings would increase over time. Additionally, 6% of the digital currency owners were planning to preserve their holdings as a long-term investment instrument till their retirement. The participants were mostly divided on their motivations for the accumulation of crypto assets. While 51% of them bought cryptocurrencies to earn additional profits, 50% were interested in making a passive income on their holdings. Real Estate Spending Leads Crypto Purchases The most intriguing part of the survey was its coverage of different categories that attracted crypto spending from digital currency owners. Contrary to expectations, luxury goods were not the most popular spending category among those who were surveyed. Instead, real estate surpassed other kinds of purchases with more than half the respondents showing a preference for the category. Around 45% of crypto investors indicated that they would buy automobiles with their holdings. Another 33% stated that they would opt for electronic devices and a mere 12% showed interest in buying yachts with their crypto funds. Some of the participants who chose the ‘Other’ category pointed out that they were ready to buy groceries and spend on travel expenses with cryptocurrencies. Meanwhile, crypto maximalists signaled that they would use digital currencies to buy everything. Present Constraints to Using Crypto in Retail Space Being a crypto-exclusive marketplace, Exeno also focused on the obstacles that prevented more people from spending digital coins in the retail space. The most obvious barrier was low levels of crypto adoption by top retailers as 36% of respondents indicated that cryptocurrencies were still not accepted by most online businesses. Some of the blame for low crypto spending is also shared by the complexities involved in the process since 24% of digital token holders found shopping with cryptos complicated and even irritating. The exchange rates are also compounding the problem as 19% of participants found them unfavorable to customers. Also, 14% of crypto holders were deterred by the transaction fees. Therefore, only 22% of respondents claimed that they had experience buying goods with cryptocurrencies.
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