Jul 1, 2022

60% of stores are ready to accept payments in cryptocurrency

60% of stores are ready to accept payments in cryptocurrency

  • About 60% of merchants have expressed their desire to add cryptocurrencies as a means of payment during 2022.
  • AT currently only 4% of merchants accept crypto payments.
  • The report also points out several other signs of an increase in the adoption of cryptocurrencies.

In February 2022, the Crypto.com, together with Worldpay, have published a new report on the introduction of cryptocurrencies into the payment space. The report looks at several key aspects of the crypto market, including interest, payment instruments, and the growing popularity of cryptocurrencies as a means of payment.

About 110,000 Crypto users.com and approximately 1.5 million Worldpay merchants from FIS (the company that acquired Worldpay in 2019) completed the surveys that inform this report. The surveys were conducted in the 4th quarter of 2021. The majority of survey participants are people under the age of 40, and sellers mainly work in the field of digital media and games.

The survey clearly showed how interest has grown incryptocurrencies from sellers. Approximately 60% of merchants want to add cryptocurrency as a means of payment within the next year, and 75% of consumers are interested in such an option. The most preferred cryptocurrencies for making payments are Bitcoin, Ethereum and USDC.

Interestingly, sellers are most interested in e-commerce, while buyers are equally interested in online shopping and traditional purchases (more than 70% of respondents reported this).

At the moment, only 4% of sellers acceptcryptocurrencies as payment. High demand for this form of payment may drive change. To some extent, this has already happened when e-commerce service Shopify allowed merchants to trade NFTs directly on their platform.

Introduction of crypto payments in the near future

The statistics in the report showthe rapid spread of cryptocurrencies. For consumers, crypto payments are the costs of converting cryptocurrencies to fiat, while for merchants, these are lower transaction fees and lower dispute costs. And these advantages have been talked about for a long time, but only in recent years there has been some progress in the cryptocurrency industry. The Super Bowl and institutional investments have played a big role in the expansion of the crypto market and the adoption of cryptocurrencies.

Interest in digital assets has spread tooperating companies. Visa, for example, plans to launch a cryptocurrency advisory service to keep pace with the growing adoption of digital currencies.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Huobi https://huobi.com 7.4
3 AAX https://aax.com 7.2
4 Exmo https://exmo.me 6.9
5 Bybit https://bybit.com 6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Additional features and services - futures, options, staking, NFT marketplace.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • final grade - the average number of points for all indicators, determines the place in the rating.

60% of stores are ready to accept payments in cryptocurrency