U.S. consumers using crypto less for everyday payments

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The share of U.S. consumers using cryptocurrency for payments has drifted lower over the past three years, according to data compiled by Peter Berezin at BCA Research, as digital assets continue to face challenges in breaking into mainstream customer transactions.

In 2021, almost 2.6% of Americans reported using crypto for payments, which slightly rose to 2.7% in 2022 but slipped to 1.7% in 2023, the data show. The number inched higher to 1.9% in 2024, suggesting only a mild rebound.

Using crypto for just purchases has remained fairly stable between 2021 and 2024, hovering around 1% in the period, while using crypto for money transfers only has fallen sharply from 1.2% to just 0.3% in 2024.

Customers who used cryptocurrencies for both purchases and money transfers stood at 0.5 in 2024.

Here is a chart via Berezin

Peter Berezin via X

Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) dropped on Tuesday as investors seemed to shun riskier assets in the wake of fears over the U.S.-China trade tensions.

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