As a company offering one of the best available crypto wallets, we are closely monitoring changing attitudes to crypto payments. While our main focus is on businesses, we are also monitoring what individual crypto owners assume. Below, we would like to share what we at Evercode Lab know about it.

Global landscape and the US case   

Globally, the total crypto currency transaction value worldwide is growing. As Insider Intelligence indicates, this volume rose from $1.43 billion in 2018 to $6.1 billion in 2021. More than that, around 2023, it is projected to reach $16.16 billion. This figure covers all the payments made by crypto owners via any platform to pay for goods and services. 

This growth, along with other aspects, presupposed that numerous potential shoppers view their crypto assets not only as investment, but also as a means of payment. To dive deeper into this growing popularity, we can take a look at the recent US figures.

There are different estimates. According to TripleA, there are 27 million crypto owners. At the same time, INSIDER INTELLIGENCE says there are 34 million. Whatever the real situation is, this share is significant. What is even more important, those owners are inclined to turn into shoppers.

America’s Crypto Shoppers

Indeed, as the recent survey by PYMNTS, the popularity of crypto as a means of payment in the US is impressive: 

  • 30% of crypto owners claim that they have already purchased something online with their crypto coins over the last month

  • 21% have gone further and ‘made an in-store purchase’ with their digital assets

  • Finally, a quarter of them state they would rather opt for those merchants who are ready to accept crypto  

It is also of interest that the crypto payments are equally distributed among categories

  • 25% of crypto owners have bought groceries

  • 25% of them have used their assets to make purchases in the world of online gaming and gambling

  • 24% used crypto for streaming

  • 24% for computers and electronics

  • 23% for financial services

  • 23% for restaurants and food delivery 

What do these figures tell? There are three points to communicate. 

First, in the US, many crypto owners can already be identified as crypto shoppers. They buy things both online and offline. And, finally, they are active across all the major segments. We hope that the rest of the world will follow suit.