Crypto payments for online purchases: Trends in 2022

[Jackl87]

Here is a report from CoinGate
https://coingate.com/blog/post/crypto-payments-overview-2022
I found the report very interesting. We all thought that 2022 was very bad for crypto as bear market continued for most part of the year. But so far as crypto payments for online payments is concerned, the data suggests otherwise. There is increase in total number as well as volume of crypto transactions. Another interesting data in this report is that bitcoin topped the total share of all payments. 48% of the transactions happened with bitcoin which proves that bitcoin is still the King of crypto even after we have thousands of alt coins.

To be honest, i am pretty surprised, that there were so many payments made in cryptocurrencies in the last year. I am even more surprised, that Bitcoin was used for almost half of all the payments that were made with cryptos. I mean i only own some fractions of Bitcoins but i would never use them as a payment, because for me Bitcoin is an investment asset that is meant to be held for a pretty long time. Just like gold. I know that the initial idea of Bitcoin was to be used as a way of payment where we don't need any bank in order to make the payment for us, but nowadays one bitcoin is just worth so much, that it kinda feels to good to just be spent for a payment. At least for me.

[Xal0lex]

I don't think that the main function of cryptocurrencies as a means of payment should suffer from the fact that the market is in a bearish trend right now. It's like spending less money because the exchange rate of the national currency has gotten lower. There is no correlation here. Only speculators and investors, who use cryptocurrencies only to profit from the difference between buying and selling, are looking at the rate.

[Rengga Jati]

Here is a report from CoinGate
https://coingate.com/blog/post/crypto-payments-overview-2022

This is not surprising, many people are actually interested in cryptocurrency not only as an asset but also as a means of payment. This is because crypto does provide convenience in transactions globally. Not only that, but nowadays more and more people are aware that cryptocurrency does have various benefits, moreover the Bitcoin.

However, unfortunately the various good news in the past year have been covered up by various FUD that have been spread, making the market even worse. This is not surprising, as long as there are still many parties who don't like crypto, then good news like this will not be too exposed and have a significant impact.