Merchants Accepting Bitcoin Payments Increased 174% Globally In 2023

The number of merchants accepting Bitcoin payments increased by 174% globally in 2023 to reach 6,126, according to data from BTC Map.

The number surged from 2,207 at the start of 2023 and peaked at 6,590 in late September before declining in the last months of the year.

The number of up-to-date merchants accepting BTC cataloged by @btcmap increased 174% in 2023. pic.twitter.com/EVHXHdmqkK

— Jameson Lopp (@lopp) January 7, 2024

BTC Map leverages open-source data from OpenStreetMap, allowing users and businesses to tag vendors that accept Bitcoin payments.

Latin America Has the Highest Number Of Bitcoin-Accepting Vendors

BTC Map data shows Bitcoin’s acceptance as a means of payment varies geographically.

Central and South America have the highest number of BTC-accepting vendors. This is closely followed by Europe and the US. Regions such as East Asia have lower numbers due to strict regulations.

Countries like India and Russia lag with the lowest number of BTC-accepting vendors. China has no BTC merchants due to its strict ban on cryptocurrencies.

Africa and Southeast Asia also have a significant number of BTC-accepting merchants.

A report by BitPay shows that Bitcoin was the most used cryptocurrency for payments in 2023, with 296,689 transactions, followed closely by Litecoin with 213,647 transactions.

The Bitcoin Lightning network also saw an 84% growth in usage in 2023 compared to 2022, according to BitPay.

The rise in BTC payments follows a previous report indicating the number of crypto ATMs dropped for the first time in a decade in 2023.

Also Read

• First Ever Bitcoin Duncan Yo-Yo Enters The US Market
• Bitcoin ATMs Installed Globally Drop For The First Time In 10 Years
• Grayscale And Ark Invest Among Latest Fund Managers To File 8-A Forms As Spot BTC ETFs Inch Closer To Possible Approval

Smog (SMOG) - Meme Coin With Rewards

Rating

• Airdrop Season One Live Now
• Earn XP To Qualify For A Share Of $1 Million
• Featured On Cointelegraph
• Staking Rewards - 42% APY
• 10% OTC Discount - smogtoken.com

Visit Site