According to a new report by BTC Map, a platform that tracks the locations of Bitcoin-accepting businesses around the world, the number of vendors that accept Bitcoin as a payment method increased by 174% in 2023. This means that there are almost three times more merchants that accept Bitcoin globally than there were at the beginning of the year.
BTC Map is a website and a mobile app that allows users to find and rate businesses that accept Bitcoin in their area. The platform collects data from various sources, such as Coinmap, OpenStreetMap, and user submissions, and verifies them manually. BTC Map claims to have the most accurate and up-to-date information on Bitcoin-accepting vendors worldwide.
According to the report published by BTC Map on January 8, 2024, the platform has recorded 23,678 Bitcoin-accepting locations in 2023, compared to 8,633 in 2020. This represents a growth of 174% in one year. The report also shows that the top five countries with the most Bitcoin-accepting businesses are the United States, Germany, Canada, the United Kingdom, and Australia.
What Drives the Bitcoin Adoption Among Merchants?
The report by BTC Map suggests that there are several factors that contribute to the increasing adoption of Bitcoin among merchants. Some of the main drivers are:
- The growing popularity and awareness of Bitcoin and cryptocurrencies in general, especially among younger generations and tech-savvy consumers.
- The rising demand for alternative and innovative payment methods that offer more convenience, security, privacy, and lower fees than traditional payment systems.
- The increasing availability and accessibility of Bitcoin payment solutions, such as payment processors, point-of-sale systems, wallets, and debit cards, that make it easier for merchants and customers to use Bitcoin.
- The positive impact of Bitcoin on the environment, as it reduces the need for paper and plastic money, and encourages the use of renewable energy sources for mining and transactions.
- The support and endorsement of Bitcoin by influential figures, such as celebrities, entrepreneurs, politicians, and institutions, that boost the credibility and legitimacy of the cryptocurrency.
How to Find and Support Bitcoin-Accepting Businesses
If you are interested in finding and supporting businesses that accept Bitcoin, you can use BTC Map as a handy tool to locate them in your area or anywhere in the world. You can also rate and review the businesses that you visit, and share your experience with other Bitcoin users. You can access BTC Map through its website or download its app for Android and iOS devices.
Alternatively, you can use other platforms and directories that list Bitcoin-accepting businesses, such as:
- Spendabit, a search engine that lets you find products and services that you can buy with Bitcoin.
- CoinATMRadar, a website and an app that helps you find Bitcoin ATMs and other crypto services near you.
- Bitrefill, a platform that allows you to buy gift cards and vouchers with Bitcoin for various online and offline stores and services.
By using Bitcoin as a payment method, you can enjoy many benefits, such as:
- Saving money on transaction fees, exchange rates, and taxes, as Bitcoin transactions are fast, cheap, and borderless.
- Protecting your privacy and identity, as Bitcoin transactions do not require personal or financial information, and are pseudonymous and encrypted.
- Supporting the Bitcoin network and community, as Bitcoin transactions help secure and decentralize the network, and promote the adoption and innovation of the cryptocurrency.
