Kaspersky and CoinMap Studies Show Increase in Bitcoin Adoption and Use

A Kaspersky study shows 700% increase in Bitcoin adoption, while 13% online buyers use cryptocurrencies. In 2018, Russian cybersecurity titan Kaspersky has conducted a study dubbed “The Kaspersky Lab Global IT Security Risks Survey” covering 12,448 respondents spread over 22 countries. The study showed 13 percent of respondents prefer cryptocurrencies for making payments while PayPal and Apple Pay stand at 53% and 31% respectively.

Kaspersky Lab’s head of verification growth center Vitaly Mzokov, the researchers, were surprised that despite the ongoing troubles on the crypto market, “here is still a strong desire for digital transactions amongst consumers.”

Analyzing the growing Bitcoin acceptance, we can see two trends. Countries where fiat currencies aren’t going strong, cryptocurrencies have gained the greatest momentum. Such are Colombia and Venezuela, for instance. Inflation in these countries pushes people to use crypto instead of fiat.

Similarly, digital currency is the solution for people who live in countries with bans. For example, Iranian students in the UK rely on Bitcoin to pay their university tuition fees.

In a more recent study by CoinMap, a SatoshiLabs’ product for cryptocurrency market visualizations, the number of retailers accepting Bitcoin around the world spiked to almost 700% since December 2013. The statistics first appeared on Twitter account of Ryan Radloff, CEO of CoinShare. He posted heatmaps by CoinMap that showed the evolution of Bitcoin acceptance, from 2013 until 2018.

By CoinMap’s estimate, the total number of businesses accepting Bitcoin is 14,346, and in 2013, that number was 1,789. That is an over 689% jump. Regions with the largest number of Bitcoin-friendly shops and businesses are Europe, the United States, some parts of Latin America, and South Asia. The Middle East, Africa, and Central Asia are regions with the lowest Bitcoin and cryptocurrency usage.

Usage is the key word here. The above statistics does not mean a surge in the Bitcoin adoption rate. CoinMap only showed how many businesses started accepting payments in Bitcoin. It does not show how many clients actually use cryptocurrency as a means of payment.

Related News

Crypto Betting/Gaming Platform MoonRekt Accepts Bitcoin

Hxro Games Inc., the developer of MoonRekt, an innovative trading/gaming platform, recently announced that players

Read-more

Largest Swiss Online Retailer Digitec Galaxus Now Supports Cryptocurrencies

On March 19, a popular Swiss online retailer Digitec Galaxus announced it would now accept cryptocurrencies

Read-more

Bitcoin Now Accepted at Starbucks, Nordstrom, Whole Foods, Other Major Retailers

One May afternoon Cameron and his brother Tyler Winklevoss, both well-known bitcoin billionaires, decided to quench

Read-more

Major US Banks Ban Bitcoin Purchases, Is It All Bad News Only?

A new rule from biggest US banks Citigroup, Bank of America, J.P. Morgan, and Capital One disallows card holders to purchase cryptocurrency

Read-more