Crypto Payment Method Gains Ground in Diverse Sectors, Study Finds


A new study by crypto tax software CoinLedger reveals that the Retail & E-Commerce sector has the highest number of companies accepting cryptocurrency as a payment method. The study compiled an extensive list of more than 300 major companies and categorized them into sectors.

Retail & E-commerce took first place with 60 companies offering the service. This includes clothing and accessories stores such as adidas, Yankee Candle and H&M, as well as online shopping platforms like Etsy.

Food & Dining came in second with 54 companies, including Chipotle, Chuck E Cheese’s, Domino’s and Hard Rock Café, as well as delivery services like DoorDash and Uber Eats. Burger King Venezuela has been accepting Bitcoin payments since 2020.

Luxury Retail came in third with 35 companies, including high fashion brands Gucci and Ralph Lauren, luxury watches retailer Hublot, and jewelers like Jewelry Affairs and CRM Jewelers.

Travel & Hospitality was fourth with 31 companies offering the service. These range from commercial airlines such as Norwegian Air and Vueling, to private jet hire like Fast Private Jet, LunaJets and PrivateFly, as well as cruise companies Royal Caribbean and Princess Cruises, and trip-organizing help sites like GetYourGuide.

Internet & Online Services companies, which offer services available online, take fifth place with 28 companies accepting crypto payments. These include Google Play and Spotify, as well as different VPN services like CyberGhostVPN, ExpressVPN and FrootVPN.

David Kemmerer, Co-Founder and CEO of CoinLedger, commented on the findings: “The increasing number of companies accepting cryptocurrency payments reflects the growing acceptance and adoption of digital currencies in the mainstream economy. This trend not only aligns with the evolving preferences of tech-savvy consumers but also offers benefits such as reduced transaction fees and increased security. From major retailers to small businesses, the diversification of sectors embracing cryptocurrencies demonstrates the versatility and potential of blockchain technology. As this trend continues, it’s likely to contribute to the broader acceptance of cryptocurrencies as a legitimate form of payment, paving the way for a more decentralized and accessible financial landscape.” Newswire is a global digital news source for investors and business leaders. This news is published on the Newswire, providing investors and business leaders with news, articles and equity research. Original content created by Investorideas is protected by copyright laws other than syndication rights.

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