Europe is witnessing a significant change in its payment habits thanks to the popularity of crypto cards, which are becoming a serious competitor to traditional banks.
Crypto Cards and Everyday Spending
According to a report from CEX.IO, 45% of transactions made with crypto cards in Europe are valued at less than 10 euros. This confirms that Europeans are increasingly comfortable using their digital assets for small purchases such as coffee or transit tickets.
Changing Online Purchases
Crypto card holders are also rapidly changing online shopping behaviors. While the European Central Bank notes that only 21% of card payments are made online, this figure rises to 40% among crypto card users. Furthermore, groceries account for 59% of purchases made with crypto cards.
Comparison with Traditional Banks
Some traditional banks, like Barclays, have started to restrict cryptocurrency transactions, highlighting the widening gap between cryptocurrency innovation in Europe and resistance from the traditional banking sector.
The emergence of crypto cards in Europe marks the beginning of a new era in finance where digital assets become a part of daily life, while traditional banks need to adapt to new realities.
