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By 2022, e-commerce cryptocurrency payments will exceed 60%

Delbert Williams IIBy No Comments2 Mins Read

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While the market is currently suffering from a severe correction, the number of retailers accepting cryptocurrency payments continues to grow as the volume of cryptocurrency purchases made online in the e-commerce sector steadily increases. .

In fact, cryptocurrency payment processor Coingate said in a research report published Jan. 4 that despite a “crypto winter,” the use of cryptocurrencies in online transactions will increase in 2022. I discovered that

According to the study, merchants using CoinGate received 927,294 cryptocurrency payments in 2022. This is about 2.7 times the annual average and a 63% increase from 2021. This figure equates to CoinGate processing one paid cryptocurrency order every 34 seconds.

CoinGate payments include cryptocurrencies annually. Source: coingate.com

Bitcoin (BTC) accounted for more than half (48%) of all transactions in 2022, according to the survey results. Notably, he is 7.6% lower than in 2021, suggesting that altcoin payments have slightly reduced bitcoin transaction volumes. Payment dominance, even though the number of transactions is increasing.

In 2022, USDT was the second most popular cryptocurrency used for shopping with a 14.8% lead. This was followed by Ethereum (10.9%), Litecoin (9.6%) and Tron (5.8%).

Despite the overall downturn in the market, CoinGate has confirmed a 48% increase in the number of newly registered merchants in 2022 compared to 2021.

Retailers Adopting Crypto Payments

Year after year, the most common argument for retailers accepting cryptocurrency payments is the same. It’s about improving access to services for consumers who are unbanked or concerned about privacy, ultimately leading to increased sales.

As modern payment processors mitigate the problem of crypto price volatility by allowing rapid settlements to fiat currencies, merchants looking for creative ways to revitalize their companies There are few reasons why should not consider implementing crypto payments.

Notably, in an exclusive interview with Finbold in December, CoinGate CEO Justas Paulius revealed that the frequency of cryptocurrency payments was unmoved by crypto winter. From free float coins to stable coins. ”

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Born in the early 80s in Milwaukee, Wisconsin, Delbert Williams II has always had a passion for writing. Even in high school, he earned excellent grades in English and writing classes. After attending John Marshall High School, he graduated from Project Stay Alternative High School in Milwaukee. From there, Delbert attended Milwaukee Area Technical College, where he studied music and communications. While he enjoyed these fields, his love for writing remained strong. In 2019, Delbert founded Hard Stack Street Mag, a publication that quickly gained a following for its unique and engaging content. As the founder and editor-in-chief of the magazine, he has worked tirelessly to produce quality articles that cover a wide range of topics, including music, art, culture, and politics. Now 42 years old, Delbert continues to pursue his passion for writing and journalism. Through Hard Stack Street Mag, he has created a platform that allows him to share his voice and perspective with readers from all over the world. With a strong background in writing and a deep understanding of the power of storytelling, Delbert Williams II is a writer to watch. He is dedicated to producing content that is both informative and engaging, and he is committed to using his platform to shine a light on important issues that are often overlooked by mainstream media.

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