Digital crypto currencies are becoming more mainstream as more and more people spend the digital currency across their daily lives. But who uses these currencies?
The 2gether financial platform enables users to spend their digital currencies anywhere using the Visa network using an app or a plastic card. It has released its 2020 crypto spender report revealing who the women are who use the crypto digital currencies, and profiles their spending habits.
The company collected data from over 10,000 users to explore people's spending habits using digital currencies – and looked at what women purchased with their digital currencies.
During Women's month, 2gether has revealed that women using digital currencies living in Europe are mainly Millennials and Gen Xs aged between 26 to 45 years old. Across the world in Korea, women dominate crypto shopping buying coffee,baby wipes and other necessities
Eurppean spenders tend to work in the service sector with the most common professions being nursing, teaching, lawyers, accountants, and economists
Over one in three (37%) people spend their digital currencies on food and groceries – hardly surprising as a growing number of restaurants, bars and street food outlets are now accepting digital currencies.
Almost one in five (17%) spend their currencies on transportation and 15% spend on financial products and investments. Only 1% spend their money on the arts, culture, or sports.
Almost a quarter (23%) of 2gether's app users are women. These female digital currency users work as services sector professionals (21%), are lawyers, accountants, and economists (16%), or are unemployed or retired (15%). Only one percent of female digital currency users are IT engineers, developers, or scientists.
According to the survey results, 20% of spending with the 2gether prepaid Visa card is crypto from either Bitcoin (BTC 69%) or Ethereum (ETH 30%) but the market capitalization favors ETH as it's used more often than BTC.
Users can spend their digital currency in the same way as they would spend their euros either using the app or by card. 2gether has confirmed that it will include Bitcoin SV - in the top ten of most capitalized currency in following months.
Spending Bitcoin is more simple with a prepaid card – either paying at the checkout, or withdrawing fiat cash against crypto holdings at ATMs.
Laura de Castro Braulio, Head of Marketing at 2gether said: "The percentage of women using 2gether to buy and sell crypto (23%) is both relevant and exciting, especially if we compare crypto spending from previous years with 1.76% of women buying BTC in 2014."
Crypto is certainly gaining traction amongst consumers as the market finds simpler ways for people to spend their digital currencies. At the moment these currencies are bought and sold by people with a reasonable knowledge of technology, Bitcoin and Blockchain.
Until it becomes simple to buy and spend, adoption will be slow. More credit-style cards are needed that can allow ordinary consumers to tap and buy what they want - without any complexity.
Regular spending using digital crypto currencies will soon become mainstream for us all.
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