Call 800 665 0411 to learn about our services

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

Financial Services and Internet Industry Lead in BitPay Payments With 23% of Companies Using Crypto


September 28, 2020 ( Newswire) Recent years have witnessed a surge in the use of blockchain payment technology, with thousands of companies across the world utilizing it for faster, more secure, and less expensive financial transactions.

As one of the leading players on the market, BitPay has had a huge role in transforming how businesses and people send, receive, and store money around the world.

According to data presented by, financial services and internet industry lead in BitPay payments, with around 23% of companies using crypto.

Over 101,000 Average Transactions per Month in 2020

BitPay provides payment processing solutions for businesses that want to accept cryptocurrency payments for their products and services. Its payment protocol offers users a more secure and streamlined cryptocurrency checkout process. All customers need to do is select crypto as their payment method where the vendor supports BitPay, and pay the invoice directly from their wallet.

Behind financial services and the internet industry as the leading markets, the prepaid card market ranked as the third-leading sector in BitPay payments, revealed Statista and BitPay data. Over 16% of companies operating in this industry accepted cryptocurrency payments as of July.v

Statistics show the Virtual Private Network (VPN) market ranked as the fourth sector on this list, with 10.4% of companies that have accepted cryptocurrency. Computer games, food and beverages, and currency exchange follow, with 4.2%, 3.2%, and 3.1% share, respectively. The BitPay data revealed that only 1.9% of businesses in the IT industry use blockchain payment systems.

Statistics also indicate the BitPay payments witnessed a steady rise in 2020. In February, the average number of transactions per month stood at 98,500. After a 4% drop in March, it rose to more than 100,700 in April and continued growing. By the end of July, the average number of monthly BitPay transactions jumped to nearly 110,000, an 11% increase in five months.

57% of Users Pay with BitPay or Blockchain Wallet

Statistics also indicate that over 88% of businesses use Bitcoin for cryptocurrency payments. Bitcoin Cash and Ethereum follow, with 4.3% and 3.9% of all BitPay transactions in July.

Analyzed by type of wallet, the BitPay wallet represents the leading digital wallet for BitPay transactions, with a 36% share among all users. Blockchain Wallet ranked as the second most-used crypto wallet, with a 21.6% market share as of July. Electrum Wallet, Coinbase and Exodus wallet follow, with 7.1%, 5.2%, and 3.3% share among users, respectively.

The full story can be read here:

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire and

Global investors must adhere to regulations of each country. Please read privacy policy:

Follow Us on StockTwits

Get more Bitcoin, Blockchain, Digital Currency stock investor ideas - news, articles, podcasts and stock directories

Buy a crypto guest post on