Crypto Mass Adoption Gets Closer: Bitcoin Adoption Increased By 700% Worldwide
Kaspersky Labs cybersecurity company reveals that about 10% of people have used Bitcoin and other cryptos to pay for online goods.
The number of merchants who are accepting Bitcoin seems to have grown in the past six years by 700% says Bitcoin directory service provider, Coinmap’s data.
Heading towards mass adoption
Cryptoglobe notes that although the digital assets have not yet achieved mainstream adoption, the global percentage of people who are using BTC and crypto has been steadily growing.
About 14% of the world’s population (from urban locations) are using crypto to pay for goods that they purchase online via e-commerce sites, says Kaspersky’s survey.
They gathered responses from 13,000 consumers in 22 different countries.
The results of this survey show that crypto is currently the least popular payment method as 81% of the people who responded at the poll said that they prefer using bank-issued debit and credit cards to buy items online.
Vitaly Mzokov, the business lead at Kaspersky, said that “Despite a fall in cryptocurrency prices, there is still a strong desire for digital transactions amongst consumers. Our consumer research has found a significant number of consumers are using cryptos for payment], which was surprising to see.”
More merchants introduce crypto as a payment option
Even if the whole crypt market was bearish in 2018 and it fell pretty hard towards the end of the year after the coins recorded their all-time highs back in 2017, it seems that a small percentage of people still prefer using crypto as payment.
On the other hand, more online merchants introduce crypto as a payment option.
Cryptoglobe notes that “Currently, there are 14,346 venues globally that take BTC as payment – which is considerably more than only 1,789 merchants that accepted bitcoin about six years back. Ryan Radloff, the CEO at CoinShares, a crypto treasury management firm, recently revealed (via Twitter) the dramatic increase in BTC acceptance rates in the past five years.”
It is said that this year we’ll be witnessing crypto mass adoption and all the achievements in the crypto space so far seem to lead towards this goal.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.