70% of crypto payments in the European Union go toward retail, food and beverage purchases, according to a report from Oobit, a cryptocurrency payments platform that surveyed its users’ spending habits.
The report, which denominated all transactions in US dollars, showed that the average payment size using the Oobit app was $8.36, while the average deposit into the app was around $85. After retail and food and beverage purchases, 26% of payments went to tourism-related activities such as lodging, travel and aviation. 1.5% went to government services and digital payments, while an additional 1.5% went to miscellaneous purchases like healthcare and entertainment.
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The report notes that the increased adoption of crypto payments is likely due to the growing acceptance of digital assets in the EU, with increased credibility coming from governments