Topic: 53% of users of Bank cards buy cryptocurrency (Read 165 times)

 
But it's just about 53% buy crypto,each user could buy 1$. so that wouldn't affect market at all.

this doesn't sound to be true in my opinion!
the amount of money that is coming in bitcoin is not even big enough to be 53% of bank card users let alone the whole cryptocurrency market. at best it is somewhere around 1% and that is only if i am generous in my calculations.

if half the users had adopted cryptos then bitcoin price would have been above $1 million already!

my guess is that this study was flawed. possibly their selected group was extremely biased or maybe the questions were misleading.

International company Worldcore, which specializes in payment transactions and serves 300,000 customers in more than 15 countries, conducted a study based on a sample of 10,000 customers, users of Master Card, Union Pay and Visa, to understand their willingness to make deals with cryptocurrency using Bank cards and potentially operating in their countries ATM.

In March-April 2018, the Worldcore payment system conducted a large-scale study among its customers to find out how loyal to the purchase of cryptocurrency are the users of Master Card, Union Pay and Visa Bank cards. The study involved more than 10,000 people from 47 countries. At the same time, data on the EU countries (28 countries) and the CIS countries (12 countries) were combined.

According to the results of the Worldcore study, about 89% of respondents know well what cryptocurrency is.

53% of respondents made a purchase of cryptocurrency at least once during the last 12 months.

Geography of buyers
At the same time, the geography of buyers was distributed as follows:

36% of respondents were residents of Japan;
 25% of US citizens;
18 – - South Korea;
8% are residents of the European Union;
6% – residents of China;
3% – Latin America;
2% – Canada;
Russia and the CIS accounted for 1%.
With what was bought cryptocurrency
Among those who bought cryptocurrency, 21% did so with a credit card, and 36% with a debit card. 43% of those who made a purchase of cryptocurrency used other forms of payments

47% of all respondents reported that, in principle, they did not make such a deal, because:   

60% of them " are not interested in risky investments», 
35% said that "not enough available funds»,
5% considered such transactions "violation of the law".


State regulation of the crypto industry
Despite the high penetration rates of cryptocurrency knowledge, as well as the willingness of respondents to use a credit card to then pay % for this purchase, the largest banks around the world are listening to regulators and prohibit more than allowed in the cryptocurrency environment.

Alexey Nasonov reminded that in February of this year, American banks Bank of America, Citigroup, JP Morgan, Capital one and Discover banned their clients from buying cryptocurrencies.  In January 2018 Visa broke off relations with a well-known provider of currency cards, and as a result thousands of people were injured. This, however, was an isolated case where Wave Crest did not comply with the Visa rules of the game. However, the news has created a rather bad information background and gave traders reason to think that cryptocurrencies may not be easy to transfer to Fiat money or withdraw from the account.

Worldcore analysts also note that in the UK the first announcement of the ban on cryptocurrency came from the banking group Lloyds. The ban also extended to customers of MBNA, Halifax, Bank of Scotland.  Cryptocurrencies and exchanges, such as Coinbase, allow users to top up crypto accounts with credit cards. However, exchanges usually have daily limits. This limit prevents users from paying their account for more than £ 500 a day if the account is set up in pounds.

Background information on the study:
The study was conducted from 20.03.18 to 10.04.18. At the same time, users of the Worldcore payment system were asked to answer a number of questions about Bank cards and cryptocurrency when entering their personal account.  A sample of 10,000 people was taken for the study.

All I would be grateful for merit.