{"id":395128,"date":"2022-01-17T12:01:17","date_gmt":"2022-01-17T09:01:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-payments-decline-as-other-cryptocurrencies-grow\/"},"modified":"2022-01-17T12:01:17","modified_gmt":"2022-01-17T09:01:17","slug":"bitcoin-payments-decline-as-other-cryptocurrencies-grow","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-payments-decline-as-other-cryptocurrencies-grow\/","title":{"rendered":"# Bitcoin payments decline as other cryptocurrencies grow"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin payments decline as other cryptocurrencies grow <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvYjM5MDk5YWUtYjljMy00YmY5LTkyODEtZTdiOTRkOTExMzQwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>BitPay Inc., one of the world&#8217;s most well-known crypto payment processors, has seen a shift in the type of digital assets used for purchases over the last year, according to a Bloomberg<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloombergquint.com\/crypto\/bitcoin-s-dominance-of-crypto-payments-is-starting-to-erode\"> report<\/a>.<\/p>\n<p>According to Bitpay, Bitcoin&#8217;s (BTC) usage at businesses that use its payment system fell last year to about 65% of processed transactions, down from 92% in 2020. Along with this change, Ether (ETH) represented 15% of all transactions, whereas other currencies like Litecoin (LTC) and Dash (DASH) have increased their portion.<\/p>\n<p>Businesses have started using stablecoins\u00a0more\u00a0frequently for cross-border payments since November when crypto values had been depreciating. Consumers have also begun to use stablecoins because their value is constant, resulting in less risk in the notoriously volatile cryptocurrency market, as per the report.<\/p>\n<p>The growing popularity of stablecoins has partly contributed to the use of alternative coins for payments. Dogecoin (DOGE), for example, became famous last year as the result of its followers, such as Tesla CEO Elon Musk, who on Friday announced that Dogecoin may be used to buy Tesla-related products.<\/p>\n<p><em><strong>Related: Retailers to drive crypto payments adoption: Survey<\/strong><\/em><\/p>\n<p>The trend suggests that individuals are holding Bitcoin rather than spending it. Bitcoin&#8217;s prices increased by 60% in 2021, regardless of the fourth quarter&#8217;s volatility. According to Bitpay, the majority of last year&#8217;s crypto transactions were in luxury items like jewelry, watches and automobiles.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Whales have never held more bitcoin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/a9jxAV3Mxp\">pic.twitter.com\/a9jxAV3Mxp<\/a><\/p>\n<p>\u2014 zerohedge (@zerohedge) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zerohedge\/status\/1482792570304573444?ref_src=twsrc%5Etfw\">January 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Transaction volumes for high-end items increased 31% in 2021 from 9% in 2020, according to Stephen Pair, Bitpay&#8217;s CEO. Payment volume rose by 57% across the board in 2021.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-payments-decline-as-other-cryptocurrencies-grow\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin payments decline as other cryptocurrencies grow &#8221; BitPay Inc., one of the world&#8217;s most well-known crypto payment processors, has seen a shift in the type of digital assets used for purchases over the last year, according to a Bloomberg report. According to Bitpay, Bitcoin&#8217;s (BTC) usage at businesses that use its payment system&#8230;<\/p>\n","protected":false},"author":1,"featured_media":395129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvYjM5MDk5YWUtYjljMy00YmY5LTkyODEtZTdiOTRkOTExMzQwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,86883,74891,74355,117,39394,36402],"class_list":["post-395128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-dogecoin","tag-ethereum","tag-adoption","tag-business","tag-elon-musk","tag-tesla"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=395128"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/395129"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=395128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=395128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=395128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}