Crypto's Growing Worldwide Acceptance Makes It Deal For Usage In Retail

2022-05-12 | Selina Mathew

Crypto's Growing Worldwide Acceptance Makes It Deal For Usage In Retail

Experts predict that as more individuals invest in digital currencies, crypto will have an even greater influence on the retail industry in the coming years.

Despite the fact that the cryptocurrency market appears to be in a slowdown at the moment, there's no doubt that the sector has gone from strength to strength in recent years, particularly in terms of acceptance.

To that aim, according to a recent research, the number of individuals in the United States who use digital assets for everyday transactions will climb by 70% by the end of the year compared to 2021, rising from 1.08 to 3.6 million users.

The study's lead author believes that as the volatility of the crypto market decreases, thanks to the increased usage of stablecoins and central bank digital currencies (CBDCs), more individuals will consider these offers as genuine payment options. According to the report, by the end of 2022, the total number of people in the United States who use crypto will have risen to 33.7 million.

By the end of 2023, this number might reach 37.2 million, a figure that seems reasonable, especially considering that the number of investors entering the global crypto battlefield has nearly quadrupled in the previous year in countries like India, Brazil, and Hong Kong.

Retail usage of cryptocurrency is expected to increase.

While the 3.6 million statistic is amazing, according to Max Krupyshev, CEO of cryptocurrency payment processor CoinsPaid, it still represents just around 1% of the American population.

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