Almost half of Estonians consider paying with digital currencies for food

Food delivery is the first service people consider paying for with digital currencies in Estonia.

According to the survey conducted in Estonia by TGM Research for CoinsPaid, a Tallinn-based crypto payment company, over 64 per cent of the respondents are interested in digital currencies and the interest reaches 74 per cent among the 18-24 age group.

Fifty per cent of all the respondents have at least one or more digital currencies wallet and 44 per cent of interviewees have previously made a digital currency transaction. For 75 per cent of them, the purpose was an investment, but 41 per cent have already used digital currencies to buy either food, service or entertainment – and that number increases to 58 per cent among the 25-34 age group.

Among the people surveyed who haven’t yet made a transaction using digital currencies, 80 per cent of the 18-24 age group are planning to do so.

When participants were asked if they considered using digital currencies daily and which services they would pay for, 44 per cent of the polled think about using digital currencies to pay for food delivery – and up to 52 per cent in the 25-34 age group.

Younger generation interested in digital currencies

Approximately 4.2 per cent of the world’s population uses digital currencies, but Estonia is currently behind the world trend, with 2.41 per cent of the population – or over 32,000 people.

“We are delighted to witness that the younger generation in Estonia is particularly interested in digital currencies. This empowers and inspires us to work with local companies and the web3 ecosystem to enable digital currency payments here”, Max Krupyshev, the CoinsPaid’s CEO, said.

Max Krupyshev, CoinsPaid’s Ukrainian-born founder. Private collection.

The survey was conducted in Estonia in May by TGM Research among 700 people.

CoinsPaid is an Estonia-licensed cryptocurrency services provider that allows businesses to accept crypto in a legal and secure way. Its payment gateway processes about eight per cent of global on-chain Bitcoin transactions and enables payments in over 20 cryptocurrencies and the possibility to convert them into more than 40 fiat ones.

The company has over 800 merchant accounts worldwide and an estimated 10 million end users. With €5 million capital, CoinsPaid is the best-capitalised provider of virtual currency services in Estonia, according to the Economic Activity Register and the Estonian e-Business Register.

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