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qr code pay bitcoin

13% Have Used Bitcoin to Buy Stuff Online: Kaspersky Labs Study

Osato Avan-Nomayo
by Osato Avan-Nomayo
6 years ago
·
Posted in Bitcoin Acceptance, Bitcoin, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Researchers at cybersecurity firm, Kaspersky Labs say one-in-ten people have now used Bitcoin and other cryptocurrencies to make purchases online. Also, data from Bitcoin directory service platform, Coinmap shows that businesses accepting Bitcoin have surged by more than 700 percent within the last six years.


Online Retailers Accepting Bitcoin

According to a survey by Kaspersky Labs, about 13 percent of people have used cryptocurrency as a payment method. The study collected responses from more than 12,000 consumers in 22 different countries.

The results of the survey show that crypto use is still the least popular method with 81 percent of respondents saying they used credit/debit cards for online purchases. However, the implication of having 13 percent of people across multiple countries using Bitcoin is profound from an adoption point of view.

13 percent of people have used Bitcoin

Commenting on results, Vitaly Mzokov of Kaspersky Lab said:

Despite a fall in cryptocurrency prices, there is still a strong desire for digital transactions amongst consumers. Our consumer research has found that 13% of people have used cryptocurrency as a payment method, which was surprising to see.

Cryptocurrency prices fell by more than 80 percent in 2018. However, a fraction of internet shoppers seem to have no problems using virtual currencies. More importantly, online retail outlets aren’t shying away from accepting cryptos.

These results also counter the mainstream narrative that cryptos fund no utility in the online retail arena. Critics like JPMorgan would have people believe that merchants aren’t accepting BTC and crypto’s only appeal comes via risky speculative investments.

Bitcoin Acceptance Continues to Grow

Concerning the pace of BTC acceptance, data from Coinmap shows that businesses that accept Bitcoin across the globe have increased by 702 percent since December 2013.

Global Bitcoin Acceptance Heat Map

According to Coinmap, there are now 14,346 venues that accept BTC as against 1,789 recorded almost six years ago.

Coinshares CEO, Ryan Radloff, showed this massive increase in BTC acceptance over the past five years in a tweet posted on Tuesday (February 12, 2019). With increasing adoption in countries like Ecuador and Venezuela, the BTC acceptance heat map for the north of South America looks a lot different than it did six years ago.

1/ 2013 vs. 2018 venues accepting #Bitcoin pic.twitter.com/BjpraiY9qJ

— Ryan Radloff (@RyanRadloff) February 12, 2019

Reports show that these avenues aren’t restricted to online shopping platforms as brick-and-mortar establishments like Montessori schools and high-end restaurants are also adopting crypto payments. In stores across the United States, Europe, and Asia, the sign “Bitcoin accepted here,” is becoming less of a novelty.

Have you used Bitcoin to pay for goods and services online? Share your experiences below!


Images courtesy of Kaspersky Lab, Coinmap.org, Twitter (@RyanRadloff), Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Osato Avan-Nomayo

Osato Avan-Nomayo

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When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

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