A Binance-led survey reportedly showed that a large part of crypto users tend to keep their asset to invest in a long-term investment strategy, and only 11% used crypto as a payment measure for goods and services. 

Specifically, insights from the “2021 Global Crypto User Index” report reportedly suggested that up to 55% of respondents – accumulating over 61,000 individuals throughout 178 nations and territories – of the survey are in possession of digital coins and want to keep them a long-term investment. 

Particularly, the majority of respondents were primarily motivated to be in possession of crypto thanks to the concept of “hodling” – meaning individuals prefer to keep cryptocurrency instead of selling it. Up to 39% of respondents claimed that “hodling” is the deciding factor for their “usage” of crypto. 

The second dominating group, with 28% of respondents who are inclined to spend their crypto to purchase different cryptos. The next 22% revealed that staking and lending – activities that enable reward generating for users, for securing the network or locking up their coins – are the options they choose to invest their crypto in. 

Binance Research additionally revealed that staking is gradually gathering interest with the ongoing Ethereum 2.0 upgrade.

The remaining 11% of respondents reportedly shared that they primarily select crypto as a means of payment, which directly translates to the existing level of crypto adoption is nowhere near being connected to daily payments in crypto.

Bitcoin is the go-to digital coin for 65% of respondents, making it the top preferred option when it comes to crypto coin to hold.