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Cryptocurrencies in Retail Consumer Adoption Report | 2021
The 2021 Cryptocurrencies in Retail Consumer Adoption Report by CryptoRefills Labs explores the increasing demand for cryptocurrency-based shopping. The report shows that consumers who use cryptocurrencies for retail are globally diverse and come from various socioeconomic backgrounds. Bitcoin remains the favored cryptocurrency, with 79% of crypto-consumers owning it. Despite challenges like high transaction fees and long processing delays, a significant portion of these consumers intend to continue shopping with cryptocurrencies. Half of them use indirect methods like buying gift cards with crypto to shop at stores that don't accept cryptocurrencies directly. The report concludes that cryptocurrencies can offer solutions to various social, economic, and technical challenges, such as financial inclusion and faster international remittances.
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