Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
POWERED BY  

 

BTC
USD
70,435
EUR
65,358
GBP
55,809
BTC
USD
70,435
EUR
65,358
GBP
55,809
BTC
USD
70,435
EUR
65,358
GBP
55,809
BTC
USD
70,435
EUR
65,358
GBP
55,809
BTC
USD
70,435
EUR
65,358
GBP
55,809
BTC
USD
70,435
EUR
65,358
GBP
55,809
BTC
USD
70,435
EUR
65,358
GBP
55,809
POWERED BY  
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
POWERED BY  

Over 700% Surge in Worldwide Venues Accepting Bitcoin in the Last 5 Years

Over 700% Surge in Worldwide Venues Accepting Bitcoin in the Last 5 Years


According to CoinMap, a site that monitors cryptocurrency acceptance, there is over a 700% surge in the number of business venues that accept payment in Bitcoin since 2013.

A Side by Side Chart of Bitcoin Acceptance

Information first appeared on the Twitter account of Ryan Radloff, CEO of CoinShare. He used the maps created by CoinMap to show the evolution of Bitcoin acceptance, from 2013 until 2018.

In the first world map, the hot points for Bitcoin acceptance are the United States of America and Western Europe. Altogether, there were 1787 business venues where customers could buy products or services with BTC.

Bitcoin acceptance in 2013

Looking at the 2018 map, there is an explosive evolution of Bitcoin acceptance. The areas with businesses that sell their products or services for cryptocurrencies are:

  • the entire European continent,
  • countries in the Asia-Pacific region,
  • several countries in Latin and South America,
  • a few countries in the Middle East.
Bitcoin acceptance in 2018

On the 18th of December 2018, the total number of such businesses was 14,113. That is more than a 689% increase. On top of that, as of 18th of February 2019, there are additional 249 venues accepting BTC, which brings the increase to over 703%.

Bitcoin – A New Hope for Failing Economies

Looking at the evolution of Bitcoin acceptance, one thing stands out. The decentralised currency has gained the greatest acceptance in countries where fiat currencies are failing. Countries like Colombia and Venezuela rely on digital currencies, which are out of the control of their governments. The excessive level of inflation in these countries pushes people towards crypto because it is a fast and secure access to financing.

At the same time, BTC is the solution for people who live in countries under international embargo. For example, as we wrote in a previous article, Iranian students in the UK rely on Bitcoin to pay their university tuition fees. They are banned from receiving wire transfers of fiat currencies, so crypto wallets are their only viable option.

Low Acceptance Areas – an Opportunity for Crypto Entrepreneurs

As the 2018 map shows, Africa, China, Russia and most of the Middle East are virgin territories. These are areas where there is virtually no company accepting Bitcoin. However, this status quo will not continue forever.

As shown by territories that had zero acceptance of BTC in 2013, cryptocurrencies make their way into various countries. At first there are individual crypto enthusiasts who buy Bitcoin. Later, daring entrepreneurs set up small exchanges and businesses where clients can pay with BTC.

It is not a simple process, but it has happened and the model can be replicated.

Acceptance Does Not Equal Adoption

As a word of warning, the good news shared by Ryan Radloff on Twitter does not necessarily mean that Bitcoin experienced a massive surge in adoption rate, as well. The CoinMap data only shows how many businesses accept payments in Bitcoin. It does not say how many clients actually used crypto to pay for products and services.

However, on the whole, this is good news for Bitcoin enthusiasts. As more businesses offer the possibility to pay with crypto, there will be more transactions in digital currencies. Thus, more people will discover the benefits of using a decentralised currency, especially when travelling abroad.

At the same time, reputable financial institutions and authorities recognise Bitcoin as a legitimate store of value. There is a definite future out there for a crypto-based financial world.

Comments(12)

  1. comment Phone Tracker Free says

    When you have doubts about your children’s activities or the safety of their parents, you can hack their Android phones from your computer or mobile device to ensure their safety. No one can monitor around the clock, but there is professional spy software that can secretly monitor the activities of Android phones without making them aware.

  2. comment Track phone says

    Monitor phone from anywhere and see what’s happening on target phone. You will be able to monitor and store call logs, messages, social activities , images , videos, whatsapp and more. Real-time monitoring of phones, No technical knowledge is required, no root is required.

  3. comment vorbelutrioperbir says

    What’s Taking place i’m new to this, I stumbled upon this I have discovered It absolutely useful and it has helped me out loads. I hope to give a contribution & aid different customers like its aided me. Good job.

  4. comment more says

    Appreciate it for helping out, fantastic info .

  5. comment more about the author says

    I dugg some of you post as I cerebrated they were very useful invaluable

  6. comment Buy nicotine pouches says

    I am not real excellent with English but I line up this rattling easygoing to interpret.

  7. comment Buy nicotine pouches says

    I?¦m now not sure the place you’re getting your info, however great topic. I must spend a while finding out much more or understanding more. Thanks for wonderful info I was searching for this info for my mission.

  8. comment care providers says

    Hiya, I am really glad I’ve found this info. Today bloggers publish just about gossips and net and this is actually frustrating. A good web site with interesting content, this is what I need. Thanks for keeping this web site, I’ll be visiting it. Do you do newsletters? Cant find it.

  9. comment private carers says

    Rattling superb info can be found on blog.

  10. comment genuine hackers for hire says

    hello!,I like your writing very a lot! percentage we keep up a correspondence more approximately your post on AOL? I need an expert on this area to resolve my problem. May be that is you! Having a look ahead to look you.

  11. comment toroidal transformers says

    I have been absent for some time, but now I remember why I used to love this blog. Thank you, I will try and check back more frequently. How frequently you update your site?

  12. comment toroidal transformers says

    It¦s in point of fact a nice and useful piece of info. I am glad that you simply shared this helpful information with us. Please keep us informed like this. Thanks for sharing.

Post a comment