Crypto cards are becoming increasingly popular in Europe, showing significant growth in usage for everyday purchases like groceries and dining.
Rise of Crypto Card Popularity
CEX.IO reported a 15% rise in new card orders across Europe this year, indicating that users are increasingly integrating cryptocurrencies into their everyday life.
Comparison with Traditional Cards
Crypto card users conduct 40% of their transactions online, compared to just 21% for traditional cardholders. The average crypto card purchase is €23.70, significantly lower than the €33.60 average for standard bank cards.
Traditional Banks' Response to Changes
Despite the growing popularity, traditional banks like Barclays have started to block crypto purchases via their credit cards due to risks related to volatility and lack of regulatory protection.
Crypto cards are emerging as an important tool for modern payments, and their successful adoption could lead to significant changes in the traditional banking system.
