Most crypto holders want to spend their stash on everyday transactions

Three quarters of crypto holders want to spend their investment on everyday transactions, even though very few merchants currently accept crypto as payment.

The findings come from a study of 1,000 US consumers by crypto purchasing website CreditCoin, which also revealed that 84 per cent of baby boomer respondents would welcome the chance to spend their crypto in ‘real life’.

Jennifer Hansen, spokesperson for CreditCoin, said: “Purchasing cryptocurrency at other exchanges can be technologically challenging. Cryptocurrency is undeniably here to stay so we created CreditCoin to make it possible for everyone to participate without being required to know anything about eWallets or connecting their bank account to an exchange.”

Eighty per cent of respondents viewed their investment as strictly that – an investment – and were unaware of their ability to spend it as legal tender.

But if given $10,000, more people said they would buy cryptocurrency (39 per cent) than a down payment on a house or car, and respondents reported purchasing things such as a dog, a wedding and 4 cases of Sriracha with their crypto.