BitPay: Clients use bitcoin less often

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According to BitPay, over the past year, its customers have begun to pay more with stablecoins. The use of bitcoin in purchases has fallen to 65%. In 2020, 92% of all transactions took place in BTC.

Over the year, bitcoin usage, at least for BitPay users, dropped by 27%. At the same time, 15% of all transactions with the payment service provider were in ETH. In stablecoins – 13%. Also their clients https://bitpay.com/blog/your-january-cryptie-2022-year-in-review/”>became
use Litecoin (LTC), Dash (DASH) and Dogecoin more often.

According to statistics, people prefer to hold bitcoins until better times, rather than spend them. Last year, the price of cryptocurrency increased by 60%, so people preferred to save it. And for purchases, they often use altcoins and stablecoins. Moreover, the popularity of altcoins has grown thanks to stablecoins. When people are looking for something to replace BTC, they inevitably get acquainted with alternative digital currencies.

Interest in stablecoins is due to the fact that there are fewer risks associated with them, while the price of cryptocurrencies is constantly changing.

Last September BitPay https://bits.media/bitpay-zapustila-servis-po-vyplate-zarplaty-v-kriptoaktivakh/”>launched
BitPay Send service for paying salaries to employees in cryptocurrencies. The service is aimed at international companies that want to pay employees and contractors in cryptocurrencies with a commission of only 1%.

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