He’s a 35-year-old lawyer who lives in Milan who escapes the rigors of his profession by dining out at fine restaurants or cooking in at home. By day, he’s an overachieving careerist. By night, he brushes up on all things crypto related, studying Bitcoin, smart contracts, Ethereum and the world of blockchain.
Umberto represents the ultimate crypto user heading into 2020, according to new analysis by fintech 2gether.
2gether, which allows users to spend their crypto like euros, compiled data from over 10,000 users across 19 Eurozone countries that reveals the average crypto user: an educated millennial male.
According to the report, 77% of crypto users are men and 23% are women, with the majority of crypto spenders between 26 and 45 years old. They’re overachievers who are most commonly lawyers, accountants and economists, followed by students.
They like to spend their crypto on food and at restaurants.
2gether, which gives people in Europe the ability to spend their funds in both crypto and euros through a prepaid Visa card, says users are spending 37% in crypto versus 63% in euros.
With 13 integrated cryptocurrencies, including Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Dash, Stellar, Ada, EOS, Qtum, Dai, Basic Attention Token, and Waves, the study reveals that the most used coin in payments is Bitcoin (BTC), followed by Ethereum (ETH).
“However, ETH has a higher payment use than BTC if we compare the volume of payments with the capitalization of both coins.”
The company says mass adoption of cryptocurrencies begins with allowing users to spend their digital assets in a variety of ways, “from a private jet to bubblegum.”