The use of cryptocurrencies for purchasing goods and services is becoming increasingly popular in Europe, largely due to national regulatory policies.
According to a report by Oobit, a payment app with Tap & Pay functionality, the number of Europeans using digital assets for payments significantly increased over the past six months. The average crypto payment through Oobit was $8.36, while the average deposit amounted to $85. USDT was used in 92% of all transactions.
The majority of spending was on retail purchases, food, and beverages, accounting for approximately 70% of all expenses. Around 26% of transactions were related to tourism, including airfare and hotel bookings. Meanwhile, only 1.5% of payments were made for government services and digital payments, with another 1.5% going toward healthcare, entertainment, and other services.
The highest number of Oobit users was recorded in Romania, Poland, Hungary, Spain, and Lithuania. The average transaction and deposit sizes varied significantly across these countries:
- Romania: average payment — $7.1, average deposit — $37;
- Poland: $8.3 and $49;
- Hungary: $7.9 and $41;
- Spain: $9.3 and $77;
- Lithuania: $8.1 and $169.
In all these countries, the majority of spending (ranging from 54% to 83%) was concentrated in retail and grocery sectors.
The report highlights that the leading countries in Oobit adoption are actively working on crypto regulations, fostering industry growth. For example, Romania introduced temporary tax benefits for crypto investors, while Hungary is developing initiatives to simplify digital asset usage.
Analysts predict that under favorable regulatory conditions, cryptocurrency payments will continue to gain traction in daily life, with digital assets becoming a mainstream payment method. Moreover, the implementation of regulatory frameworks at the pan-European level is playing a crucial role in this trend.
