Categories: Crypto

European Travelers Embrace Crypto: Bitget Survey Finds 85% Ready To Spend Crypto On Holidays

Bitget’s recent survey has revealed that cryptocurrency is moving from investment portfolios to real-world spending quickly.

A strong majority of European crypto users are now willing to fund their holidays using digital assets.

Bitget’s study, which polled over 3000 European users, throws light on the demand drivers behind crypto-powered travel. Apparently, 85.32% of respondents used crypto to book travel or are actively considering it. Interestingly, the top intended uses for crypto now includes daily expenses, accommodation and transport. This reflects a growing comfort with use of crypto across the travel lifecycle.

Commenting on the findings, Gracy Chen, CEO at Bitget, said, “Crypto users are not just looking to hold digital assets; they actively seek practical applications, especially for something as universal as travel. The increasing demand, coupled with rapid advancements in infrastructure and payment solutions, reinforces our belief that cryptocurrencies are poised to become an integral part of everyday life.”

source: Bitget survey

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Stablecoins Lead As Preferred Payment Asset For European Travelers

The report revealed that stablecoins lead as the preferred payment asset, followed by Bitcoin. However, certain barriers like limited acceptance by travel providers persist. 91% still believe paying for holidays with crypto will get easier in the next few years.

So, what are the main motivations for using crypto while traveling? One can avoid foreign exchange fees, experience faster transactions while privacy and anonymity remains intact. The study said, “Beyond financial efficiency, the desire for privacy and anonymity also emerges as an important factor (42.96%). This sentiment is particularly strong in certain regions, with 44% of German and 51% of Polish respondents specifically favoring this reason. Meanwhile, in Italy, 46% of users are primarily driven by an overarching interest in new technologies, showcasing a broader embrace of innovation as a catalyst for crypto adoption in their travel habits.”

Let’s talk about generational preferences. GenZ strongly prioritizes low fees, while GenX places greater emphasis on loyalty programs and the ability to pay in remote areas.

Chen added, “At Bitget, we are committed to building the tools and ecosystem that bridge the gap between digital assets and real-world utility, making daily activities like travelling more accessible, efficient, and secure for everyone.”

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Key Takeaways

Confidence in crypto’s travel utility is strong: an overwhelming 91% of surveyed users believe paying with crypto for holidays will become easier in the coming years.

Apparently, 85.32% of respondents used crypto to book travel or are actively considering it. Interestingly, the top intended uses for crypto now includes daily expenses, accommodation and transport.