New research by LendEDU: Amazon’s cryptocurrency would be a huge success in America

Once again, the U.S.-based LendEDU asks interesting questions to a thousand of consumers, only this time, they are not necessarily cryptocurrency holders, but instead, they all are active Amazon users (purchased anything in the last month).

It turns out that the “virtual currency” (as cryptocurrency is sometimes called) of Amazon would be more popular than bank accounts, personal loans, retirement investment accounts and auto-insurance plans made by the same company.

While 51.7% of Americans responded positively to the question “Would you use it?” about the possible Amazon digital coin, the lesser number of people would use anything else mentioned above. However, the credit monitoring service and prescription medicine services would be more popular that this hypothetical digital coin (55.2% and 54.7%, respectively).

When asked about the level of trust towards financial services of Amazon in comparison to banks, the majority of respondents told that the trust would be practically the same, which might be concerning for banks. Should Amazon really decide to provide the wider number of financial services, they would get a really powerful rival.

It was this company which let the public know that some consumers are so unwise that they use credit (not debit) cards to invest in Bitcoin hoping to return debts after they gain the growth revenue - which will not necessarily happen. Since then, also being clearly aware of this social group, some major American banks have blocked the opportunity to buy Bitcoin with credit cards.