The adoption of cryptocurrencies continues to gain ground. However, certain generations are more likely to actively participate, such as members of Gen Z, who are widely requesting them as Christmas gifts this holiday season, and they are not the only ones.
Cryptocurrencies and AI for the holiday season
The adoption of cryptocurrencies depends on many factors, such as their current status within traditional finance, the geopolitical and/or regulatory situation to which their holders are exposed, but also the generation concerned.
This last point was once again highlighted in a recent study conducted in the United States by payment giant Visa to estimate the overall change in behavior as Christmas approaches, whether in terms of preferred gifts or the means used to select and purchase them.
This study highlights what Visa identifies as “a generational shift in consumer behavior, as well as emerging payment trends for this holiday season.”
On the agenda: the adoption of artificial intelligence (AI) and digital tools at “remarkable speed.”
This holiday season marks a turning point in the way Americans buy and give gifts. Consumers are increasingly incorporating technologies such as AI and cryptocurrencies into their end-of-year traditions.
Gen Z wants crypto under the tree
As is often the case when it comes to cryptocurrencies, Generation Z (Gen Z)—born between the late 1990s and early 2000s — appears to be at the forefront of its adoption, alongside the use of AI, which does not have this type of generational boundary, since nearly half of Americans now use it “to improve their shopping experience.”
When it comes to cryptocurrencies, the change is more evident in their emergence as a “legitimate and appreciated gift option,” with members of Gen Z clearly determined to “lead a profound reinvention of commerce” in this area.
This digital-first shift positions cryptocurrencies as a highly popular Christmas gift choice for more than 1 in 4 American shoppers on average, or about 28%. This figure skyrockets to 45% for Gen Z, but still represents 34% for the previous generation of Millennials.
At the same time, Visa also mentions a growing preference for digital wallets, with 1 in 5 consumers preferring to use them. Once again, Gen Z leads the way in this trend, with 36% of its members saying they prefer this payment method to traditional physical cards.
Other highlights of the study include the fact that around 10% of shoppers surveyed believe that “stablecoins will dominate by 2030,” while 28% expect their use to increase by 2035.
