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It is very important to know how cryptocurrency users from all over the world spend and use their virtual currencies. This is why Rad Card decided to conduct a survey in which they asked crypto users from all around the world about their habits spending virtual currencies.

The Great HODL Survey

According to the data gathered by Rad Card, the typical crypto user is usually a male individual between 25 and 34 years hold with a bachelor’s degree. At the same time, they can be considered cryptocurrency investors due to the fact that decided to put some dollars into various ICOs and tokens.

At the same time, the traditional crypto user hodls between $1,000 and $10,000 worth of tokens and has never used virtual currencies to pay for goods and services they consume.

But this is not the whole information gathered by Rad Card. Typical crypto users believe that there are some complex limitations for using cryptocurrencies. Indeed, they believe that payments cannot be easily done due to the lack of crypto friendly shops. Moreover, these digital assets have a very high volatility making it difficult for merchants to accept them.

It is important to mark that the survey conducted by Rad Card shows that crypto investors (token owners), prefer not to use their virtual currencies in real life as much as business owners (start-ups, ICOs, token issuers, etc), freelancers (usually paid in crypto), or service providers (those who accept crypto as payment).

Crypto Usage

The survey shows that almost 2/3 has never used virtual currencies to pay for goods and services or did it just once a year. Indeed, 56% of the cryptocurrency holdlers said that they have never used virtual currencies for paying goods and services.

But it is important to understand why they do not want to spend their virtual currencies. The majority said that they are hodling the investment to obtain higher returns in the future. And at the same time, they explain that volatility is too high and there are few places where to spend them.

High transaction fees were a limitation for 33% of the individuals that answered the interview, while 20% said that the low transaction times posed a limitation to pay in virtual currencies. 19% of the individuals said that due to regulatory restrictions and complicated payment methods, it was difficult to use cryptocurrencies.

Fortunately, 85% of the respondents were much more likely or more likely to use virtual currencies if any of the limitations are solved.

It is important to point that the younger the respondents were, the more they want to hodl. At the same time, the more educated the respondents, the more they would like to use their virtual currencies for day to day spending.

What About the World?

The survey was conducted in three main regions of the world, North America, Europe and Asia. And there are some connections that can be done according to each region. For example, transaction fees are a big problem for Europeans. 48,5% answered that this is one of the greatest limitations of widespread adoption.

In Asia this number is 38.3% and in North America is surprisingly low compared to the other two regions (19.2%).

In Asia, the biggest problem seems to be the regulatory framework. 32.1% of Asians believe that regulatory restrictions are the biggest problem for crypto adoption. And that may be related with the different hard positions taken by China, South Korea, and other countries in the region. South Korea and China completely banned ICOs, from their territories and took further measures to stop crypto adoption.

In Europe this number goes to 18.2% and in North America to 15.4%.

At the same time, the hodlers seem to be located in Europe and North America. In North America, 55.8% of the respondents said that they do not use virtual currencies because they are hodlers and they are waiting for better prices. In Europe, the number goes to 48.5% and in Asia 32.1%.

Hodl Profile Cases

According to their investment profile, the respondents were able to show different problems and limitations. The survey divided the individuals in three groups, enthusiasts that have less than $100 or between $100 and $1,000 worth of cryptocurrencies. Stakeholders have between 1,000 and $10,000 worth of crypto. Whale respondents have more than $10,000 in virtual currencies.

High transaction fees are an understandably big problem for crypto enthusiasts, while stakeholders and whales believe that this is not an issue (26.8 and 32.4% respectively).

At the same time, those who hodl more virtual currencies are more concerned about regulatory restrictions. 15.2% of enthusiasts see that as a major issue, while 24% of whales identify regulatory restrictions as a problem.


Rad Card has conducted an interesting survey about crypto habits around the world. Of course, they explain that there are some limitations in the study, but this is a preliminary stage that allows individuals and interested people to have a better picture of the crypto situation worldwide.

A new survey could be conducted in the future with more participants, with different segmentations, with more data to analyse and other interesting questions to add.


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