Crypto Payments Surge in 2023, Indicating a Paradigm Shift in Retail and E-commerce
January 10, 2024In 2023, there was a significant increase in crypto payments in retail and e-commerce transactions.
CoinGate, a crypto payment processor, processed over 1.2 million crypto payments, marking a 39.4% increase from the previous record.
Binance Pay accounted for 8.2% of all crypto payments in 2023, exhibiting steady growth.
The Lightning Network facilitated 7.8% of all Bitcoin payments processed by CoinGate, indicating increasing acceptance.
Bitcoin's share of transactions processed by CoinGate decreased to 35.6% in 2023, while stablecoins like USDT saw increased usage.
Crypto-friendly merchants Eldorado.gg and IPRoyal reported a portion of their sales from crypto payments.
Overall, 2023 showed a significant shift in the adoption of cryptocurrency payments, with potential for further expansion in 2024.
Summary based on 0 sources