A recent press statement from Kapersky Lab highlighted the results of the company’s Global IT security Risks Survey 2018, which found that 13% of surveyed respondents said that they have used cryptocurrency to make a purchase. The company also noted a rise in sophisticated actors targeting consumers’ cryptocurrency assets for theft.
There are a growing number of businesses now offering cryptocurrency as a payment method, with retailers and food outlets now accepting it. Prices are falling and major sports teams are even partnering with crypto-exchanges. Yet, as people show interest in using cryptocurrency to both invest and spend their money, their funds are vulnerable to being stolen from cryptocurrency wallets, insecure exchanges and Initial Coin Offerings (ICOs). There have been high profile incidents where sums of up to $530 million worth of digital tokens have been stolen.
The company’s report found that credit and debit cards continue to be consumers’ first choice for making payments, with 81% of respondents reporting that they’ve used those payment options. Another 65% have used bank account transfers, and 58% have used e-wallet services like PayPal.
Despite widespread use of online payment systems, however, 52% of respondents indicated that they still worry about the safety of those payment options. 46% said that they would be more comfortable with online payments if they could be sure that the systems were secure. That sentiment also appears to be at least somewhat grounded in real-world experience, as 32% reported that they had “experienced a financial incident in the past year.”