The number of stores accepting Bitcoin went up by 571 percent in the past five years, despite the bear market affecting crypto prices. According to Coinmap, there are currently as many as 14,456 venues across the globe accepting Bitcoin as a means of payment, compared to just 2,514 sites five years ago, while a survey by Kaspersky Lab showed that over 13 percent of online shoppers use cryptocurrencies to make payments.
BTC adoption rate on the rise
The number of venues accepting Bitcoin increased significantly over those last five years. On February 15, 2014, 2,514 shops took payments in Bitcoin. However, the number soared, with 14,456 stores now accepting Bitcoin globally. The map available on Coinmap shows that the highest number of stores accepting Bitcoin is in North America and Europe.
The increase in the number of stores accepting Bitcoin is not the only positive news for crypto adoption. A survey by Kaspersky Labs, a cybersecurity company, showed that cryptos are used in making payment by more than 13 percent of online shoppers. According to the survey results, 81% of online shoppers still prefer well-known payment methods through debit and credit cards. However, alternative payment methods such as e-wallets, contactless devices, mobile wallets, and cryptocurrencies, considerably increased their percentage of transactions.
Vitaly Mzokov, Head of Verification at Growth Center at Kaspersky Labs, said he was surprised at the success of crypto transactions considering the sharp decline in prices over the past few months, implying that beyond pure speculation, cryptocurrencies could play an essential role in the future of online payments.
Kaspersky obtained the results from 12,448 surveys and respondents from 22 countries, respectively, aiming to clarify the changes in preferences and behavior patterns among online shoppers.