Study uncovers which industries accept cryptocurrency as payment option
- The retail & e-commerce sector takes the crown with 76 companies accepting crypto
- Food & dining is second with 72 companies, while Travel and Hospitality is third with 38
- Luxury retail comes in fourth, and the top five is closed by internet & online services
March 8, 2024 (Investorideas.com Newswire) A new study by crypto tax software CoinLedger reveals that the retail & e-commerce sector has the highest number of companies that offer the option to purchase through cryptocurrency.
The study compiled a list of 400 major companies listed by BitPay as accepting cryptocurrency methods and categorized them into sectors, to discover which one contains the most companies offering crypto as a payment method.
Retail & e-commerce take first place with a total of 76 companies accepting crypto payments. The sector includes clothing and accessories stores like Adidas, Yankee Candle and H&M, as well as online shopping platforms such as Etsy.
The food & dining sector follows closely in second with 72 companies. Examples are Chipotle, Chuck E Cheese's, Domino's and Hard Rock Café, and delivery services such as DoorDash and Uber Eats. Different services became available gradually in different countries: Burger King Venezuela has been accepting Bitcoin payments since 2020.
New additions to this list are the Grubhub conglomerate, for which you can purchase gift cards with crypto, and various stand-alone pubs and restaurants around the world such as The Pink Cow in Tokyo and Pembury Tavern in London.
Travel & hospitality comes in third with 38 companies accepting crypto payments. These range from commercial airlines such as Norwegian Air and Vueling to private jet hire like Fast Private Jet, LunaJets and PrivateFly. Cruise companies Royal Caribbean and Princess Cruises are also on the list, as well as trip-organizing help sites like GetYourGuide.
Further down on the list, luxury retail is fourth with 35 companies offering the service, among which there are high fashion brands Gucci and Ralph Lauren, luxuryx watches retailer Hublot, as well as jewelers such as Jewelry Affairs and CRM Jewelers.
The top five closes with internet & online services companies, as 32 accept crypto as a form of payment. These companies offer a service available to use online from our phones and laptops, such as Google Play and Spotify, and different VPN services like CyberGhostVPN, ExpressVPN and FrootVPN.
David Kemmerer, Co-Founder and CEO of CoinLedger commented on the findings: "The increasing number of companies accepting cryptocurrency payments reflects the growing acceptance and adoption of digital currencies in the mainstream economy.
"This trend not only aligns with the evolving preferences of tech-savvy consumers but also offers benefits such as reduced transaction fees and increased security. From major retailers to small businesses, the diversification of sectors embracing cryptocurrencies demonstrates the versatility and potential of blockchain technology. As this trend continues, it's likely to contribute to the broader acceptance of cryptocurrencies as a legitimate form of payment, paving the way for a more decentralized and accessible financial landscape."
credit and link to https://coinledger.io/
Data sourced from BitPay
Methodology:
- CoinLedger sourced a list of companies that accept cryptocurrency as a form of payment from BitPay's business directory;
- All companies were categorized into industry sectors;
- CoinLedger ranked each industry according to the eligible companies to determine the most crypto-friendly sector
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