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Key Takeaways
- The Crypto.com Visa Card is one of the most popular crypto debit cards. Every year, the Crypto.com Research & Insights Team takes a deep dive into how our users spend their crypto, where they spend, and what they spend on.
- The Crypto.com Visa Card spending index surged by 29% year-over-year.
- Information and communication spending grew the strongest, by 22%.
- Overseas spending came in second, spiking by 21%. This reflects increased post-pandemic consumer confidence as a rejuvenation of the markets.
- However, housing and household-related expenses significantly decreased, by 18%.
- Grocery remains the main spending category, accounting for 62% of volume in 2023, much higher than 36% in 2022.
- Online spending continually dominated the overall expenditure, with 55% of the share.
- Amazon accounts for 19% market share in online spending, followed by Booking.com (16%).
- In 2023, for out-of-home consumption, entertainment (concerts, arts, exhibitions, and sports events) surged the most, with around 21% growth, followed by dining (3%); fashion, however, declined by 10%.
- Crypto.com Visa Cards have registered transactions in over 200 countries and regions around the world.
- Over 51% of travel spending was done in the EU.
- Booking.com was still the most popular online travel booking platform for Crypto.com Visa Card users.
- The average proportion of e-commerce spending grew marginally from 53% in 2022 to 55% in 2023. The growth was more significant than the decrease (-8%) in online sales split from the global sales channels. This suggests that our cards remain attractive in online shopping.
- Amazon, AliExpress, and eBay were the most frequented e-commerce platforms, with 50%, 7%, and 7% market share, respectively.
Read the full report: Crypto.com Visa Card Consumer Spending Insights 2023
Authors
Crypto.com Research and Insights team
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