As crypto continued maturing by the end of 2025, driven by wider merchant acceptance, growing stablecoin use, and the steady integration of digital assets into mainstream payment options, we wanted to understand how people were actually using it in daily life. This research was conducted for CoinsPaid Media readers to explore the shift preparing for 2026. While most public conversations still focus on price movements or regulation, everyday spending has quietly become an emerging part of crypto adoption. That gap led us to look more closely at the real motivations behind choosing cryptocurrency as a payment method.
After 30 hours of unstructured interviews (2024–2025) with more than 30 participants and two small-scale surveys in 2025 in the US (n=900) and Europe (n=1828), we attempt to answer a core crypto 101 question: Why do people spend cryptocurrency? It remains a surprisingly elusive topic, especially for those who have not spent it before, or often, and an area almost completely unexplored in academic or business research on digital payments, payment methods, and online payment methods.
This research reflects current findings based on limited samples (the US and select European countries) and may not represent all cryptocurrency users. Insights are provided for informational purposes only and should not be interpreted as financial or legal advice.
Spending Gains as a Driver of Cryptocurrency Payments
Despite recent declines (≥30%) in cryptocurrencies from their highs this year, many retail investors have still seen significant gains, creating more crypto millionaires. For example, an estimated 241,700 people worldwide now hold at least USD 1 million in crypto assets, marking a 40% increase over the past year.
Our data shows that after making large gains, cryptocurrency owners are eager to spend their “winnings.” Some cryptocurrency spenders told us crypto feels like “play money” or magical internet money they were always willing to lose, which increases their willingness to spend. Our small-scale studies in the US and Europe support this, with around 40% of cryptocurrency owners citing “spending gains” as the #1 reason they choose crypto payments over traditional payment options.
Privacy Motivations Behind Choosing Crypto Payment Methods
Globally, 70% of consumers feel more comfortable using payment methods that do not require sharing financial details with merchants. In the U.S., only 20% of payment app or site users in July 2022 were extremely or very confident that their personal data was safe. Paying with cryptocurrency gives consumers an additional sense of privacy compared to mobile payment apps, card payments, or other forms of digital payments.
This is uniquely a feature of cryptocurrency payments, although most cryptocurrencies are pseudonymous, not private, as bad actors can still compromise user privacy by linking multiple transactions together on the blockchain. Still, early qualitative data shows consumers perceive a privacy benefit when they spend using cryptocurrency, especially when spending in certain industries such as the adult industry. For example, one user mentioned the following when talking about spending in the adult industry: “I didn’t want it to show up on any credit card statement.” Anonymity as a drive for spending cryptocurrency is supported by our own small-scale studies in the US (n=900), which find that 32% of respondents spend cryptocurrency because of privacy. It has also become a topic in cryptocurrency regulation news, with growing policy debates about anonymity, traceability, and compliance, further shaping consumer perception.
Curiosity and Early Adoption in Cryptocurrency Spending
Although blockchain technology and stablecoins have been around for years, paying with cryptocurrency is still relatively novel for many consumers. Estimates vary, but the share of people who have used cryptocurrency for everyday digital payments remains low, generally in the single digits. Limited merchant adoption and the slow integration of crypto by mainstream payment processors affect overall crypto adoption for everyday purchases.
This may be caused by limited adoption by businesses, as cryptocurrency payments account for less than 0.5% of global e-commerce transaction value. This means that for cryptocurrency holders, spending cryptocurrency is still seen as something novel. This is best captured in one crypto spender’s own words: “I want to experiment with different technologies all the time. And the best way to learn is to actually get involved with it to understand it in a deep sense, versus just reading about it.”
Academic research supports this: some people use new online payment methods simply because they enjoy trying new technology. This reflects an early-adopter mindset that plays a meaningful role in cryptocurrency spending.
The Role of Speed and Instant Settlement in Crypto Payments
In the majority of cases, using cryptocurrency for payments is faster than using the traditional banking system. Industry reports that for international transfers, “…even the oldest and slowest cryptocurrency payment is significantly faster than the best a fiat currency payment system can currently achieve.” Comparative academic studies have found that cryptocurrency systems can offer “efficient transaction time” and “faster payment” than traditional payment systems.
Faster processing times matter most to consumers in moments where speed is critical, usually when they’re waiting for a deposit to appear to complete an action (play a game using in-game tokens, gamble online) or for a payout to be released. This is described best by one crypto spender who said, “…when you withdraw in crypto, you get it instantly instead of the couple of days it takes the banks.” About 12% of European respondents and 23% of U.S. respondents cited speed as a key reason for choosing crypto as a digital payment alternative to traditional banks, cards, or mobile payment solutions.
Liquidity Needs and Using Crypto to Supplement Spending
Imagine seeing a great Black Friday deal but not having enough in your everyday fiat account because most of your funds are tied up in investments like stocks, gold, or even stablecoins. Before cryptocurrency, converting those assets into spendable cash could take days or weeks. Crypto changes that.
Holders can quickly convert part of their portfolio into usable funds and complete the purchase immediately. This flexibility is the fifth reason we identified for why people spend cryptocurrency: it enables spending even when fiat funds are temporarily unavailable.
This also aligns with earlier research showing that some consumers struggle to treat cryptocurrency as “real money,” making them more willing to spend it compared to traditional payment options or mobile payment apps.
Conclusion
Crypto spending is driven by a combination of financial gains, practical advantages, and personal motivations. Many holders treat profits as “winnings,” while others value the privacy advantages crypto offers over conventional payment methods. A meaningful share spends out of curiosity and experimentation, and faster settlement times enhance the appeal of crypto payments in situations where delays matter. For others, crypto serves as a flexible supplement when fiat liquidity is low.
As the future of cryptocurrency evolves, shaped by consumer behavior, merchant adoption, stablecoin maturity, and ongoing cryptocurrency regulation news, motivations for spending will continue to shift. For now, these are the clearest reasons consumers choose to spend cryptocurrency in 2025.
