Over 50% of CoinZoom Visa Debit Card Transactions Now in Crypto

CoinZoom, a Utah-based fintech company, has released data indicating a significant shift in consumer behavior towards using cryptocurrencies for everyday transactions. The company's report shows that over 50% of transactions made using its Visa debit card are completed using cryptocurrency directly from users' wallets. This trend is observed across 50 countries, highlighting the global adoption of digital currencies.

The data reveals that Tether (USDT) is the most commonly used cryptocurrency for these purchases, followed by Bitcoin (BTC). This preference for USDT suggests that users value stability and liquidity in their transactions, as USDT is pegged to the US dollar and provides a reliable medium of exchange. The high percentage of crypto-based transactions through CoinZoom's Visa debit card indicates that users are increasingly comfortable using cryptocurrencies for their daily spending needs, which is a testament to the convenience and security offered by these digital assets.

This development is particularly noteworthy as it reflects the integration of cryptocurrencies into mainstream financial systems. The ability to use crypto for everyday purchases through a Visa debit card demonstrates the practical applications of digital currencies beyond speculative investments. It also signifies the growing infrastructure supporting crypto transactions, making it easier for users to convert and spend their digital assets.

The widespread adoption of crypto for purchases across 50 countries further emphasizes the global nature of the cryptocurrency market. It shows that digital currencies are not limited to a few tech-savvy regions but are being embraced by users worldwide. This global reach is crucial for the long-term sustainability and growth of the crypto ecosystem, as it indicates a broad base of users who are actively participating in the market.

The trend of using crypto for purchases also has implications for the future of digital currencies. As more users adopt cryptocurrencies for everyday transactions, it is likely that we will see increased demand for crypto-friendly payment solutions. This could lead to further innovation in the crypto space, with more companies developing products and services that cater to the needs of crypto users. Additionally, the growing acceptance of crypto for purchases could influence regulatory frameworks, as governments and financial institutions recognize the need to accommodate digital currencies in their systems.

CoinZoom's CEO and Co-Founder, Todd Crosland, commented on the data, stating that it challenges the notion that crypto has no role as a 'means of exchange.' He highlighted that having a 'blended wallet' with both cash and crypto gives users real power and choice. Since launching their metal card for Black Account holders, users have been earning over $300 a month in free crypto rewards, demonstrating the benefits of integrating crypto into everyday financial activities.

CoinZoom's platform enables users worldwide to send, spend, save, and invest seamlessly. As a U.S.-registered Money Services Business and Money Transmitter, CoinZoom operates with stringent security standards and offers diverse funding options. Its global peer-to-peer payment system, ZoomMe, allows users in 169 countries to send cash or crypto instantly and fee-free, offering significant savings on remittance fees. The CoinZoom Crypto Debit Card provides unparalleled spending flexibility, allowing users to transact in USD or crypto at over 130 million merchants globally while earning up to 5% in crypto rewards. CoinZoom also has subsidiaries in Australia and Ireland and is pending registration as a Virtual Asset Service Provider (VASP) in Lithuania.