{"id":40296,"date":"2023-01-05T09:50:35","date_gmt":"2023-01-05T09:50:35","guid":{"rendered":"http:\/\/egrowonline.com\/?p=40296"},"modified":"2023-01-05T09:50:35","modified_gmt":"2023-01-05T09:50:35","slug":"how-many-users-are-spending-paying-with-cryptocurrencies","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=40296","title":{"rendered":"How Many Users Are Spending & Paying With Cryptocurrencies?"},"content":{"rendered":"


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Leading payment gateways such as Coingate and BitPay noted an increase in crypto payments last year. Users are willing to pay for goods, services, gifts, and among others with cryptos. Cryptocurrency payments continued to soar in the last two years despite the ongoing and harsh bearish market conditions.<\/p>\n

Also Read: Shiba Inu: Shibarium Codes Finally Go Public on GitHub<\/a><\/strong><\/p>\n

Which Cryptocurrency Is Most Used For Payments?<\/h2>\n
\"bitcoin\"bitcoin
Source: Unsplash<\/figcaption><\/figure>\n

According to the data published<\/a> by BitPay and Blockdata, 48% of all transactions using cryptocurrencies as payment are Bitcoin<\/a>. Nearly half of the users who transact goods and services with cryptos prefer to pay with BTC. The majority of retailers accept Bitcoin as payment as its the most trusted crypto in the world.<\/p>\n

Also Read: Logan Paul Hired \u201cCriminals\u201d to Develop His CryptoZoo NFT Project<\/a><\/strong><\/p>\n

Altcoin Payments On The Rise<\/h3>\n
\"Major\"Major
Source: Cryptoslate<\/figcaption><\/figure>\n

After Bitcoin, the next most used cryptos for payments are Ethereum, Litecoin, Tron, BNB, ADA, and Tether\u2019s USDT. Stablecoin Tether saw usage of around 15%, while ADA and BNB entered the fray with 1.1% and 3.5% of payments, respectively.<\/p>\n

According to the data, users who made small transactions preferred to pay with altcoins such as Litecoin, among others. Users who made bigger purchases chose Bitcoin as a payment method as it\u2019s fast and secure with fewer transaction fees.<\/p>\n

Also Read: When is the Best Time to Buy Bitcoin? Wall Street Analysts Explain<\/a><\/strong><\/p>\n

Who Is Transacting The Most With Cryptos?<\/h4>\n
\"\"\"\"
Source: Industry Outreach <\/figcaption><\/figure>\n

The report sheds light that users who are earning $100,000 or more are the ones paying with cryptocurrencies. Also, a quarter of college students are transacting with cryptos and the numbers are experiencing a rapid increase. Around 35% of tech-driven users favor a merchant that offers crypto as payment. 26% of users prefer shopping at places where crypto services are available.<\/p>\n

The development suggests that crypto adoption is growing and would continue to thrive in this decade. Many more retailers are expected to accept the new form of payment, increasing collection adoption.<\/p>\n

Also Read: Top 3 Bitcoin Price Predictions For 2023<\/a><\/strong><\/p>\n<\/div>\n


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Leading payment gateways such as Coingate and BitPay noted an increase in crypto payments last year. Users are willing to pay for goods, services, gifts, and among others with cryptos. Cryptocurrency payments continued to soar in the last two years despite the ongoing and harsh bearish market conditions. Also Read: Shiba Inu: Shibarium Codes Finally […]<\/p>\n","protected":false},"author":1,"featured_media":40297,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[81,4287,3435,399],"class_list":["post-40296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-cryptocurrencies","tag-paying","tag-spending","tag-users"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/money.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40296"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40296\/revisions"}],"predecessor-version":[{"id":40298,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40296\/revisions\/40298"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/40297"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40296"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}