Majority of EU crypto payments spent on retail, food, and beverages: Report

Retail transactions, food, and drinks make up most cryptocurrency usage behaviors in the European Union, a new mini-report by Oobit indicates.

The study conducted an investigation of six months of Oobit usage data. The statistics show that 70% of all crypto costs are categorized as day-to-day retail purchases. Romania, Poland, and Hungary were also the top three nations for crypto payment usage on the Oobit platform.

USDT is the leading choice of payment currency

Tether’s USDT has become the go-to stablecoin for European crypto payments. USDT made up 92% of all transactions that were made via the Oobit app.

The transaction records reveal fascinating trends in the manner in which people use the platform. The overall average payment amount for all the nations covered in the report was quite small at $8.36. This indicates that users are mostly making use of crypto for small, routine purchases as opposed to significant expenses. As opposed to that, the average deposit amount was much larger at $85. This implies that users tend to top up their accounts with significant amounts that get spent over numerous small transactions.

Outside of retail, food, and drinks (which comprised 70% of expenditure), the second-biggest category for crypto transactions comprised 26% of expenses. It consists of accommodation, travel, and aviation services. Government services and digital payments comprise only 1.5% of expenditure, with another 1.5% comprising miscellaneous services such as healthcare and entertainment.

The top five countries in crypto payment adoption via Oobit were Lithuania, Spain, Hungary, Poland, and Romania. Although average payment sizes were fairly uniform among these markets (from $7.1 in Romania to $9.3 in Spain), deposit sizes varied more. The standout was Lithuania, with an average deposit of $169. That is considerably higher than Romania’s $37 average.

Country-specific trends reveal regulatory impact

The top three nations for crypto payment adoption via Oobit were Romania, Poland, and Hungary. All three have one thing in common: they are building crypto-friendly regulatory environments. This indicates that government policy is a driving force behind consumer adoption of digital asset payments.

Romania had the highest number of active users, although it had the lowest average payment size at $7.1 and the lowest average deposit at $37. The nation’s new tax policy could be the reason for this increase. Romania recently implemented a tax break amendment to its fiscal code that excludes income from crypto investments by natural persons until July 31, 2025.

As per the report, the move is meant to “improve transparency in crypto transactions as well as allow for the mapping of this new market into the Romanian economy.” Similar to other leading markets, Romanian consumers mostly spent on food, retail, and beverages, with 71% of the transactions in this category.

Poland was in second place when it comes to usage statistics for Oobit, with average payment sizes of $8.3 and average deposits of $49. The report also mentions that crypto has entered mainstream political debate in Poland. Poland has already had a regulatory framework set in place that permits crypto firms like exchanges to operate legally, laying the groundwork for consumer adoption.

Hungary trailed closely with an average payment amount of $7.9 and average deposits of $41. The nation has made tangible strides toward end-to-end crypto regulation. Its Ministry for National Economy introduced a draft law that would enable domestic banks to provide digital assets directly to customers under the oversight of the Hungarian National Bank. Hungary’s parliament also passed Act VII of 2024 on Markets in Crypto-Assets, which took effect in June 2024.

Lithuania stands out for high-value engagement

Lithuania is one of the top five crypto payment markets in Europe. The users in this region have also shown higher deposit values despite similar transaction patterns. With an average deposit of $169, Lithuanian users appear to fund their crypto payment accounts more substantially while maintaining average transaction sizes comparable to other markets at $8.1.

The report attributes this outlier status to Lithuania’s position as “an established crypto business hub with low corporate taxes and a clear regulatory framework.” Lithuanian users showed the strongest concentration in retail spending among all top markets.

This represents a notably higher percentage than the overall average of 70% across all markets. This suggests Lithuanian crypto payment adopters may be more focused on using digital assets specifically for daily shopping needs. Spain, ranking fourth in usage, recorded the highest average payment size at $9.3 with deposits averaging $77. However, Spanish users showed the most diverse spending pattern among the top five countries.

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