Despite markets now suffering a severe correction, the number of retailers who are willing to accept cryptocurrency payments continues to rise with a steady increase in the volume of crypto purchases made online in the eCommerce sector.
Indeed, CoinGate, a cryptocurrency payment processor, discovered in its research report published on January 4 that, despite the “crypto winter,” the use of cryptocurrencies for online transactions in 2022 is increasing.
The research indicates that in 2022, merchants using CoinGate have received 927,294 crypto payments, which is around 2.7 times higher than the annual average and represents a 63% increase from 2021. The figure is equivalent to CoinGate processing one paid cryptocurrency order every 34 seconds.
CoinGate payments inc crypto each year. Source: coingate.com
Bitcoin is the most popular crypto for payment
According to the research findings, Bitcoin (BTC) was responsible for over half, or 48%, of all transactions in the year 2022. Notabl
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