One Out of Five Crypto Buyers Uses Credit - Survey

Top global banks ban cryptocurrency purchases with their credit cards

by Marina Ovcharova
07 February • 1 min
In News

As much as 19% of the people who acquired crypto coins in 2017 took a loan to buy them, a survey made by CoinDesk showed on Wednesday. More than half of them have already paid it out.

The survey polled over 3000 respondents as part of the crypto portal’s “Blockchain State 2018” report.

The media goes ahead and applies the poll's results to resent discussions in the crypto community on if the deals with coins have become an investment bubble. The conclusion presented, based on the results, claims that in historical plan the crypto trade can hardly be considered a bubble, looking upon the involved borrowed means' amount.

Meanwhile, several major banks, including Bank of America, Citygroup, and JP Morgan, recently banned the use of their credit cards for the purchase of cryptocurrencies. Moreover, accounts have been obstructed by risk-averse financial institutions in certain sectors, according to CoinDesk.

  1. Crypto enthusiasts number is growing despite the odds

The recent Bitcoin crash didn't cool down the enthusiasm of traders who continue to look closely at the market. The value of the most famous coin has dropped from above USD 19 000 to USD 8000 currently, steadily taking down with it the whole cryptocurrency market.

Still, the supporters of the idea expect the crypto-money to replace the present-day ones, although currently governments don't seem to be considering it.