Cryptocurrency in eCommerce: statistics to help your business
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The influx of cryptocurrency has been monumental – providing users with a brand-new way to purchase items digitally.
It’s an area that the eCommerce industry cannot afford to ignore as they could potentially lose customers and, in turn, revenue.
Don’t believe us? These 30 statistics regarding cryptocurrency in eCommerce will showcase just how big this market is and why you need to start implementing cryptocurrency as a form of payment.
If you’re unsure how to do just that, why not get in touch with Embryo – a Manchester-based independent digital marketing agency that specialises in delivering integrated campaigns?
For example, we offer eCommerce SEO services that prioritise increasing organic traffic, increasing conversions, and maximising ROI (return on investment).
Did we mention that our team has won multiple awards? If you’re ready to take your eCommerce strategy to the next level, get in touch with our team by phone at 0161 327 2635 or email [email protected].
Why Shoppers Choose Cryptocurrency for eCommerce
- 39% of 26-35-year-olds are planning to up the amount of crypto they spend. (Practical Ecommerce)
- 50.6% of shoppers believe crypto is the future.
- 45.8% think that by using cryptocurrency, its overall adoption will increase.
- 24.9% of shoppers use it as they are unable to cash out their crypto funds.
- 39% figure that spending crypto will increase its value.
- 35.4% of shoppers simply don’t trust banks.
- 35.6% believe crypto is safer and more secure.
- 36.3% of shoppers are against banks and governments having control of money.
- 23.5% opt to spend crypto as it is more stable than their local currency.
(Statistics 2-9 are taken from Statista)
Why Vendors Should Offer Cryptocurrency as a Payment Method
- The blockchain-enabled retail market will likely exceed US$70 billion by 2030. (Market Research Future)
- Vendors who accept digital currency payments saw an average ROI of 327%. (ACI)
- On top of that, they saw an increase of up to 40% in new customers. (Triple A)
- It is predicted that more than 8 out of 10 eCommerce vendors in the medical devices industry will offer crypto payments on their websites in 2024. (Statista)
- Exchanges that process cryptocurrency transactions may charge lower than 1% – compared to the 1.9-3.5% of credit cards. (Research by CoinTelegraph)
- As of 2023, there are more than 425 million cryptocurrency users across the world. (Statista)
- Worldwide, India has the most digital currency owners – coming in at 93 million. (Triple A)
- This is followed by the US which has 43 million and Vietnam with 20 million. (Triple A)
- The use of cryptocurrencies in eCommerce is expected to exceed US$9.8 billion yearly. (Juniper Research)
Worldwide eCommerce Cryptocurrency Statistics
- The number of B2B (business-to-business) cross-border transactions on the blockchain will reach 745 million by 2025. (Statista)
- This is closely followed by Europe, where these transactions are estimated to reach 466 million by 2025. (Statista)
- By 2030, the US cryptocurrency payment apps market size is estimated to reach US$418.5 million. (Research and Markets)
- Across the globe, approximately 15,174 businesses accept Bitcoin. (Buy Bitcoin)
- The worldwide crypto wallet market is estimated to have a value of over US$3.6 million by 2033. (Future Market Insights)
- From June 2021 – May 2022, 56% of retail crypto transactions were between US$100 to $500. (Practical Ecommerce)
- Following on from this, only 7% were above $1000. (Practical Ecommerce)
- There are at least 19 countries that have banned cryptocurrency – including China. (Technopedia)
- Men own 63% of cryptocurrency, compared to 37% of women. (Triple-A)
- The annual income of an average digital currency owner is US$25,000. (Triple-A)
- The largest digital currency is Bitcoin. (Coin Gecko)
- This is closely followed by Ethereum and Tether. (Coin Gecko)
Let Our Experts Help You Streamline Your eCommerce Strategy
We hope this blog has shown you that implementing cryptocurrency digital payments has the potential to increase your eCommerce revenue.
As an award-winning digital marketing agency, we help a range of businesses and sectors take their online presence to the next level. Will you be next?
Whether you need a top-rate content strategy, to improve your eCommerce website, or get your ads seen by a wider audience, our experts have got you covered.
