The top three areas where Gen Z users most strongly choose cryptocurrency are gaming, everyday purchases, and trip reservations.
Cryptocurrency payments are becoming increasingly popular among many user groups for high-value and everyday transactions, indicating that digital assets are progressing beyond speculative instruments.
Regarding daily transactions, Gen Z users are particularly notable, since 36% of their digital assets are spent on gaming-related costs, and 35% are used for everyday purchases and reservations.
According to a Bitget Wallet poll of 4,599 cryptocurrency wallet users, 40% of Gen X users prefer to use cryptocurrency for travel, digital goods, and real estate, indicating that this age group dominates high-value purchasing.
The results indicate a growing interest in the practical applications of crypto. Trip reservations, daily purchases, and gaming are the three biggest spending categories.
Because millennials are more accustomed to using digital assets, they are more inclined to use cryptocurrency for various transactions, such as subscriptions, trips, and digital goods.
Jamie Elkaleh, chief marketing officer of Bitget Wallet, claims that the increasing financial integration of cryptocurrencies with shops worldwide makes it possible for people to embrace them for everyday transactions with an improved user experience.
He said that “small merchants can easily integrate crypto payments with their familiar consumer shopping habits by using QR codes, and larger retailers can avoid the hassles of exchanges by integrating their cards.”
Regional factors influencing cryptocurrency payments include convenience, political unpredictability, and luxury.
The paper emphasizes how regional infrastructures and behaviors influence crypto spending choices when analyzed at the regional level.
With 41% of users expressing interest in utilizing cryptocurrency for gaming and giving, Southeast Asia leads the world in these areas. East Asia accounts for the largest share of daily cryptocurrency purchases and digital goods, with the highest percentage in the world (41%).
With 38% of users utilizing digital assets to enable cross-border transactions in an underbanked setting, Africa’s use of cryptocurrency in educational payments is unique. 38% of people in Latin America use cryptocurrency for digital goods, while 35% do so for online purchases.
With 31% of respondents saying they would be interested in utilizing cryptocurrency for luxury products and 29% for cars, Middle Eastern users show a strong demand for luxury and lifestyle-related purchases.
The research was released one week after Crypto.com and Emirates, the biggest airline in the Middle East, inked a memorandum of understanding (MoU) to include Crypto.com Pay into Emirates’ payment system.
