A new study suggests that UK retailers have bought in April, more Bitcoins. In the month before the purchases had fallen in the UK by 50%.
The British Fintech service providers Revolut has made data available, which show that customers with the Revolut crypto-trade bought in mid-March, less crypto – despite the previous decline to a new annual low.
The collapse of the purchases of the Bitcoin total trade in the home was Revolut parallel to Lockdown measures by the British government, which served the fight against the COVID-19-spread.
Cryptographic purchases have fallen by 58 %
Revolut looking in the UK or across Europe on a customer base of more than 10 million users. More than three million of these users when trading on the App to Bitcoin, Ethereum, Bitcoin, Cash, Ripple, or Litecoin, and buy act.
In the course of the complete blocking of Europe, the weekly crypto-purchases fell only for the retailers in the UK by 58 %. According to Decrypt this corresponds to an average decline of formerly 540 to 230 British pounds, which is equivalent to 633, or 280 US dollars.
At the same time, reduced App customers your crypto activities in the second half of the month of March to 50 %.
Crypto-purchases and sales rise in April
When the Lockdown effect in March led to the decline was the situation in April is already significantly different.
The Bitcoin had-prices at this time stands from the previous low at 3,800 USD to 7,000 USD to almost 50 % recovered, made increasingly the trust of the British Revolut-user noticeable.
To 20. April, dealers made an average of 57 % more purchases, the values in the trade was as much as 68 %.
The average retail spending declined in March to 52%. From the data, but it is clear that traders have invested in the following month, 63% more in trade in crypto-currencies.
Overall, the study shows that the sale in the case of users of the Revolut-App increased in the last weeks of April and the first week of may to 38%, the average volume of sales contracts rose in the same period by at least 13 %.
The Bitcoin remains the most popular crypto-currency
Little surprise: Revolut came to the conclusion that the Bitcoin between March and April dominated the trade with Kryptos in the App. The Coin brought it to a share of 51 % of the market transactions in the said time window.
A share of 20 % of the Trades it brought a Ripple, while Ethereum 3rd place with 14%. At 8% each on the App to trade Litecoin and Bitcoin Cash came from.
Also the age of the traders, and played according to the company, a role, when it comes to the level of spending when shopping. In the age group of 55 – to 64-Year-olds the average total investment amounted to 345 British pounds, or 423 US dollars. In the age group of 18 – to 24-Year-old merchant spent an average of “only” 109 GBP (134 USD) per Trade, so only about a third of the older dealer.
What struck Revolut also: In direct comparison, the commercial activities of the British clientele were during the lock downs three times as high as that of the users in the Rest of Europe.