Figuring Out Buyer Behavior

Segment: The Cryptocurrency users

Awareness: My first interview was with Nick. He explained that he is most aware of this problem when he is ready to cash his currency or convert it. He also explained that this is when the value of the currency is higher than it usually is. My second interview was with Chris. He explained that he also watches the fluctuating values of the currency and looks for an opportune time to cash out. He said that the problem exists when he needs to convert the currency to cash. If he doesn't need to make a transaction, then he isn't worried about how to go about making a transfer. Julian was my final interview and he explained that this problem arises not only when the value is high, but also when he needs money to buy something. He said that he had so much invested in cryptocurrency at one point that he had to depend on making these transfers to pay various bills.

Information Search: Nick explained that his primary information search would be on Google. Using search terms like "How to cash or covert Bitcoin?" Chris said that he would also use Google and even Reddit to find answers. Chris said that he also used Reddit to find out more general information about Bitcoin. Julian has used all of the above searches but has personal experience dealing with these transactions.

Summary/Conclusion: My interviews pointed out that these transactions may spike when the value of the currency reaches a high. I also found out that there might be a higher demand for these transactions in our present time because of illegal activity not being formally traced as it is now required by law. Since criminals know that there is no existing system, they may be more inclined to do as many transactions as they can before the system is developed. On the legal side, users feel hesitant to make any transactions for fear of losing their personal information or being hacked. This segment of users searches for information on the internet. They will ask family and friends, but only if they have experience firsthand.