A new survey finds that younger adults are leading crypto adoption for gifting and shopping.
Nearly one in five Americans say they would rather receive cryptocurrency than a gift card this holiday season, according to a new survey from the National Cryptocurrency Association (NCA) and PayPal.
The report, which surveyed more than 2,000 U.S. adults, found that 17% prefer crypto over traditional gift cards, while 31% believe digital currency gifts are less likely to go unused. Moreover, nearly a quarter of adults have given or are considering giving crypto this holiday season.
Among current crypto holders, nearly two-thirds (around 65%) are giving or considering gifting crypto, and half expect to receive it themselves.
Consumers cited several reasons for preferring crypto as a gift: 58% believe it has potential to increase in value, 54% prefer the flexibility for spending or investing, 49% like that it avoids lost or expired gift cards, 45% consider it a more exciting gift, and 40% like the speed of sending and receiving.
“The holidays highlight the power of giving, and digital currencies are quickly becoming a preferred choice,” said May Zabaneh, Vice President and General Manager of Crypto at PayPal. “Crypto makes sending gifts, paying merchants, or managing cross-border transactions faster and easier than ever.”
Shopping with Crypto
The survey also found that crypto use extends beyond gifting, with 23% of Americans saying they are likely to shop with it this holiday season and 19% planning to shop with crypto within the next year.
Among crypto holders, 62% plan to use it for purchases. Younger adults (ages 18-54) are leading adoption, with 22% planning to gift crypto and 30% planning to shop with it, compared with just 3% among those 55 and older.
The report concluded that education and clear security messaging could also increase adoption in the future, particularly among older consumers. These findings come as more and more individuals start to understand the benefits of using crypto over traditional payments, including lower fees, faster transactions, and enhanced privacy. The report also follows a year of landmark regulation for cryptocurrencies – including the GENIUS Act, which was signed into law in July.
Source: https://thedefiant.io/news/research-and-opinion/nearly-20-of-americans-would-prefer-crypto-over-gift-cards-this-holiday-season-paypal
