According to BitPay, one of the world’s largest crypto payment providers, digital tokens other than bitcoin are being used more in purchases between consumers and businesses.
Company, Bloombergin an interview with 2020 in the year BitPay processed payments at merchants using 92%in the bitcoin while using 2021 in this rate 65%He said he fell. 2021 payments in the year 15%ini Ethereum (ETH), 13% stablecoins and 3%′whose reputation was added to BitPay during the year. Dogecoin (DOGE), SHIBA INU (SHIB), and Litecoin (LTC) created.
The use of cryptocurrencies as an alternative to fiat currencies in payments continues to increase day by day, as many businesses begin to offer these payments to customers, such as Tesla CEO Elon Musk recently announced that he will accept Dogecoin as a payment method when purchasing tesla products.
BitPay Chief Executive Officer Stephen Pair, the company 2020 in the year luxury goods related to 9% the trading volumes 2021 in the year 31%He said he rose to . However, the company 2021 overall payment volumes if 57% increased.
Recent declines in the cryptocurrency market 2018 Pair said that it did not affect crypto payments much compared to the previous year, luxury product expenditures were affected, but the decrease in general expenditures was lower;
Our business is affected to some extent by price movements. People tend to spend less when the price drops, but we haven’t seen much of a drop in volume with this recent pullback. This is probably indicative of more companies needing to use crypto as a means to pay.
made statements. He thinks that the payment sector also shows its future potential. PayPal regarding many large companies starting to offer crypto payments, such as;
It’s been great for us to get PayPal into this space. Because it caused other companies to start asking the question of whether they should accept crypto payments.
Pair, which includes expressions, in the short term going public or organize a new funding round He said they didn’t think so.
We are really happy with our strategic position. This field is still very new. A lot of the things we want to do have to do with how we think about timing. We can see significant growth in the next few years.
said.