Although crypto prices have plummeted, a quarter of British consumers would like Amazon to accept cryptocurrency as a payment method. In addition, over a third of the country’s population now owns cryptocurrencies, according to the Cryptocurrency on the High Street Report by VoucherCodes.co.uk.
When Brits are looking for places to spend cryptocurrency, they most often look for everyday retailers. Tech giant Apple takes second place, with 14% of people wanting the option to buy iPhones and accessories there with it.
10% of Brits even want to be able to use cryptocurrency in supermarkets for their weekly shopping. Plus, British Airways is an option, as 11% would like to fly using this digital currency.
One of the most popular purchases Brits make with their crypto is clothes, with 13% buying the latest fashions with their crypto. Research shows the nation is now buying essential items and commodities with their cryptocurrency. The same number of people (13%) also purchased real estate using their digital wallets.
When asked what the future of cryptocurrency might be like, many consumers said that it would replace cash and credit cards as the primary way to pay for things. This comes as no surprise, since 25% of British people think that crypto is the future for payments.
Not surprisingly, older generations aren’t so convinced. Those 55 and up would only invest £213 (US$258), on average, in crypto. That’s 462% less than the 18-24 age group.
Anita Naik, a savings expert at VoucherCodes.co.uk, said that it’s obvious more consumers are embracing crypto. Many Brits already own digital currency and would readily use it to purchase goods or services.
Several big-ticket companies, including Microsoft and Shopify, accept crypto as payment. As a result, retailers are likely to respond favorably, as well.