CoinMap Crypto Acceptance Monitoring Data Shows Bitcoin Use is Up 700%+ in Growth Since 2013
According to CoinMap, the number of shops and commerces accepting Bitcoin (BTC) around the world grew around 700% since December 2013. There are different countries that have registered a larger increase than others for different reasons. Some of them are Colombia or Venezuela.
The CEO of the digital asset management firm CoinShares, Ryan Radloff, highlighted that there was a dramatic surge in the number of venues that accept Bitcoin as a means of payment. On Twitter, he shared a heatmap comparing the number of venues accepting Bitcoin in 2013 and 2018.
— Ryan Radloff 👩🚀 (@RyanRadloff) February 12, 2019
At the moment, the total number of business accepting Bitcoin is 14,346. Back in 2013, that number was 1,789. Some of the region with the largest number of Bitcoin-friendly shops and businesses are Europe, the United States, some parts of Latin America and also Asia.
Latin America has seen also an important increase compared to previous years. The crisis in Venezuela and the millions of migrants moving to Colombia, Ecuador, and Argentina have given an impulse to virtual currencies as well. Now Latin America seems to be a more integrated region to virtual currencies compared to 2013.
However, the Middle East and Africa and Central Asia remain as places with low Bitcoin and crypto integration, as shown by CoinMap. There are some exceptions. In Africa, Lagos, Johannesburg, Cape Town, Harare, Pretoria, and Nairobi seem to be cities with a larger number of venues accepting the most popular digital asset in the market.
Although the market is currently in a bear trend that has affected the whole industry. In the future, it might be possible for Bitcoin and other virtual currencies to be accepted in many other places all over the world.
It is important to mention that although this seems positive, there is no information regarding how many individuals are really using these venues. There is a larger offer of where to pay for goods and services using Bitcoin and this is something that during a bull market will be very positive for these shops and also for individuals using digital currencies.