Cryptocurrency is on the rise in the United States over the last year as many investors have turned to it as a hedge against inflation.
Besides being an excellent investment option, a recent study by Cantaloupe has shown that 67 percent of cryptocurrency owners are now willing to use it in a mobile wallet for purchases.
Cryptocurrency Goes Mainstream
Yes, cryptocurrency is no longer a fad as more people are willing to invest in crypto, especially with a possible stock market crash looming, and they are also interested in using it for daily purchases if linking their cryptocurrency to a digital wallet was easy.
Cryptocurrency is no longer just popular among people in the 18-34 age group, the Cantaloupe study also found from their recent study that cryptocurrency is also gaining in popularity among the 35-54 age group as well.
Bitcoin ATMs Have Helped Raise The Awareness Of Cryptocurrency
Bitcoin ATMs have certainly helped more people become familiar with cryptocurrency as it’s not difficult to buy crypto at a gas station or supermarket. The key to success with getting more people to use cryptocurrency is making it easy to use in their favorite payment apps or digital wallets.
Thankfully, more cryptocurrency payment apps are launching every year. In 2022, payment apps including Paytomat Wallet, are making it possible for people to use cryptocurrency for everyday purchases like food, gas, and travel.
Cryptocurrency Still Has Room For Growth
Digging deeper into the Cantaloupe study, the data also shows that crypto is still largely popular with people who earn more than $100K per year, while less affluent and younger generations or more inclined to stick with payment apps like Venmo or PayPal for their purchases.
Survey respondents who are age 55, or older, also reported that they were less inclined to use cryptocurrency, let alone link it to a digital wallet, so this shows that it may be several more years until cryptocurrency has widespread appeal among all age groups and generations.