Consumer Report
Consumer Report 2021
The largest survey of people who pay with crypto, now in its first edition. Quantitative and qualitative insight into who these consumers are and why they pay with Bitcoin and other crypto for goods and services.
Purpose
Most research on Bitcoin and crypto adoption as a means of payment has been conducted on the merchant side. There is a need to explore, understand and forecast adoption by investigating the user, or consumer, perspective.
The report
This 50-page report aims to give a global picture of the current state of user adoption of Bitcoin and other crypto as a means of payment for goods and services.
The research covers:
- User demographics
- Drivers and barriers to adoption
- Purchase behaviours
- Purchase experience (usefulness, ease of use, social norm, etc.)
- Use of specific currencies
- Use of specific technologies (Lightning Network)
- Purchase experiences and intent to repurchase
- Purchase statistics (product categories, prices)
Methodology
The report draws on academic research constructs as well as best practice in qualitative and quantitative market research. Its core is a revised TAM2 model (the Technology Acceptance Model adapted from Venkatesh and Davis, 2000). We verify and expand the insights from our adapted TAM2 questionnaire with our aggregated user spending data and with focused surveys and case studies.
The TAM2 model lets us cover the experience of people buying goods and services with blockchain-based currencies in depth, in particular the ease of use, usefulness and social aspects of using them. We then cross-reference that with our own data to dig into the topics that emerge from the first results. For example, if transaction fees turn out to be a major barrier to adoption, we can analyse our data to find the average fees people paid and compare them with the average price of the goods they bought.
The privacy of our users and of the people we survey is critical to their trust and to our business. All survey data is anonymised immediately using aliases, and studied and published in aggregate.
To avoid bias in the outcomes, our research team is supported by independent researchers.
Who is this research for
Data for anyone who needs to quantify and understand how people pay with crypto for goods and services.
- VCs, angel investors and institutional investors
- Payment service providers
- Banks and financial services providers
- Governments and regulators
- Marketing and payments professionals
- Online and offline retailers
- Blockchain and payments media
Keep up with the research.
New data on how people actually pay with stablecoins and crypto, straight from our own transaction research. No more than one email a month, and you can unsubscribe with one click.
Become a research partner
Research partners help us collect data, for example by sharing our survey with their users, send us relevant case studies, or help distribute the report and our other findings. Some partners also fund part of the research. The more a partner contributes, the more visibility we give them. We're especially looking for institutional partners such as universities and regulators, and fintech businesses such as payment processors.
Become a research partnerResearch partner advantages
Visibility on the report and website
Your organisation is named in the report and on this site.
Early access
You'll get one digital and three printed copies of the report for free. The digital copy arrives two weeks before public release.
How to become a research partner
Get in touch through the contact form. You'll need to be able to sign a non-binding memorandum of understanding on behalf of your organisation.
Apply as a research partner