Cryptocurrency news

BitPay: 90% of payments are still made in bitcoins

BitPay: 90% of payments are still made in bitcoins

One of the largest cryptocurrency payment operators BitPay shared statistics of processed transactions. As before, payments in bitcoins prevail and account for about 90% of all transactions.

According to the company’s statistics, since November 2019, 90% of transactions processed by BitPay are held in bitcoins. In second place is Bitcoin Cash – this cryptocurrency makes from 3% to 5% of payments. In third place, ether with a result of 2-3%. BUSB, GUSD, USDC, XRP, and PAX account for a very small number of transactions.

On average, BitPay processes just under 100,000 transactions per month. At the same time, if at the end of last year about 90,000 payments were made, since the beginning of the year their number has increased to 95,000, and in April – exceeded 100,000.

Most often, users use their own BitPay wallet for payments (37%). Blockchain Wallet (21%) and Electrum Wallet (10%) are also popular. As for companies that accept cryptocurrencies to pay for goods and services, 28% of payments go to companies that provide financial services, and 24% of payments go to Internet firms.

In February, it was reported that in 2019, the payment operator processed transactions worth more than $1 billion, and at the end of may, the BitPay service said that It does not plan to implement support for the Lightning and Liquid protocols, since users do not use such solutions.