ONLINE RETAILERS ACCEPTING BITCOIN

According to a survey by Kaspersky Labs, about 13 percent of people have used cryptocurrency as a payment method. The study collected responses from more than 12,000 consumers in 22 different countries.

The results of the survey show that crypto use is still the least popular method with 81 percent of respondents saying they used credit/debit cards for online purchases. However, the implication of having 13 percent of people across multiple countries using Bitcoin is profound from an adoption point of view.

13 percent of people have used Bitcoin

Commenting on results, Vitaly Mzokov of Kaspersky Lab said:

Despite a fall in cryptocurrency prices, there is still a strong desire for digital transactions amongst consumers. Our consumer research has found that 13% of people have used cryptocurrency as a payment method, which was surprising to see.

Cryptocurrency prices fell by more than 80 percent in 2018. However, a fraction of internet shoppers seem to have no problems using virtual currencies. More importantly, online retail outlets aren’t shying away from accepting cryptos.

These results also counter the mainstream narrative that cryptos fund no utility in the online retail arena. Critics like JPMorgan would have people believe that merchants aren’t accepting BTC and crypto’s only appeal comes via risky speculative investments.

BITCOIN ACCEPTANCE CONTINUES TO GROW

Concerning the pace of BTC acceptance, data from Coinmap shows that businesses that accept Bitcoin across the globe have increased by 702 percent since December 2013.

Global Bitcoin Acceptance Heat Map

According to Coinmap, there are now 14,346 venues that accept BTC as against 1,789 recorded almost six years ago.

Coinshares CEO, Ryan Radloff, showed this massive increase in BTC acceptance over the past five years in a tweet posted on Tuesday (February 12, 2019). With increasing adoption in countries like Ecuador and Venezuela, the BTC acceptance heat map for the north of South America looks a lot different than it did six years ago.

View image on TwitterView image on Twitter
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About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast ; motivator; author of "AN IMMIGRANT WITH A PLAN" and a John C Maxwell certified speaker . Happily married to Emely and a father to one son and two daughters. My greatest joy comes from inspiring others to maximize their potential. I feel fulfilled when I bring hope to the hopeless and encouragement to the discouraged. The truth is, we each have a past, and it's either our prison, our excuse OR our springboard to a brighter future. The choice is yours but as for me, I made up my mind a long time ago to use my dysfunctional tough childhood as a stepping stone . The late Zig Ziglar used to say "It's not what happens to you that determines how far you will go in life, it is how you handle what happens to you." This is my story and I am sticking to it!
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