BitPay recently published a study that highlighted four sellers from different companies that have used Bitcoin as a payment method. A gold broker, an online gift card store, a domain registrar who also serves as a hosting service, and an electronics retailer were selected to participate.

In the report, anonymous sellers praise the lack of encryption in counterfeit returns, and note the extent of the problem when working with traditional institutions.

They also report that while between 0.5% and 6.5% of all e-commerce sales come from cryptocurrencies, it has helped increase new customer flows by an average of 40% over the past three years.

The study found that sellers reported an increase in online purchases during the pandemic. This increased the number of crypto transactions on their platforms: 11% of responding customers said they used cryptography and other digital payment methods for the first time.

The report also added:

The surveyed sellers identified the possibility of increasing sales by entering a new customer segment that prefers to pay with bitcoins and other cryptocurrencies when shopping online. While cryptocurrency buyers still account for a relatively small share of the costs, awareness of cryptocurrencies is high and growing. ”

In early September, a UK-based online food delivery platform called Just Eat added cryptocurrency payment support to its French subsidiary.

Source: CoinTelegraph