The top five industries leading the cryptocurrency transition
A recent analysis by CoinLedger has highlighted the sectors most receptive to integrating cryptocurrency into their payment methods, with retail and e-commerce leading the way.
The study analysed over 300 organisations from various sectors that accept cryptocurrency payments, finding that 60 companies in retail have adopted crypto, including H&M, Adidas, Yankee Candle, and popular online marketplace Etsy.
The food and dining industry secured second place, with 54 companies allowing crypto transactions. Players like Hard Rock Cafe, Domino’s, Chipotle, and Chuck E Cheese have all hopped on the digital currency bandwagon, the study found.
Burger King’s operations in Venezuela began accepting Bitcoin payments as early as 2020. Delivery services such as DoorDash and Uber Eats are also integrating this technology.
The Luxury retail sector rounded out the top three with 35 companies, including high-end fashion brands like Gucci and Ralph Lauren. Luxury watch retailer Hublot and jewellers like CRM Jewelers and Jewelry Affairs are also part of this cryptocurrency shift.
Travel and hospitality, and internet and online services, make up the top 5. Norwegian Air, Vueling and a spate of jet hire services like LunaJets represent the former category, while the likes of Google Play, Spotify and VPN providers such as ExpressVPN and FrootVPN are among the 28 companies making up the latter.
David Kemmerer, co-Founder and CEO of CoinLedger, spoke to the significance of these findings. “The increasing number of companies accepting cryptocurrency payments underscores the rise of digital currencies in the mainstream economy,” he said.
“This not only resonates with the advancing preferences of tech-driven customers but also offers benefits like decreased transaction charges and enhanced security. The cross-sector uptake of cryptocurrencies underscores their versatility and reflects just how important blockchain technology has become.”
He predicts that the increasing trends will lead to greater acceptance of cryptocurrencies and a more decentralised financial landscape.
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