Retail and e-commerce sectors globally have the highest number of companies that offer the option to purchase through cryptocurrency, according to a new report by crypto tax software CoinLedger.
The study compiled a list of more than 300 major companies which are known to accept cryptocurrency methods and categorised them into sectors, to discover which one contains the most companies offering crypto as a payment method.
“Retail and e-commerce take first place with a total of 60 companies accepting crypto payments. The sector includes clothing and accessories stores like Adidas, Yankee Candle, and H&M, as well as online shopping platforms such as Etsy,” the report found.
Co-founder and CEO of CoinLedger David Kemmerer said the increasing number of companies accepting cryptocurrency payments reflects the growing acceptance and adoption of digital currencies in the mainstream economy.
“This trend not only aligns with the evolving preferences of tech-savvy consumers but also offers benefits such as reduced transaction fees and increased security.
“From major retailers to small businesses, the diversification of sectors embracing cryptocurrencies demonstrates the versatility and potential of blockchain technology. As this trend continues, it's likely to contribute to the broader acceptance of cryptocurrencies as a legitimate form of payment, paving the way for a more decentralised and accessible financial landscape,” he said.
The report found that second on the list is the food and dining sector with 54 companies.
“Examples are Chipotle, Chuck E Cheese’s, Domino’s, and Hard Rock Café, and delivery services such as DoorDash and Uber Eats. Different services became available gradually in different countries: Burger King Venezuela has been accepting Bitcoin payments since 2020,” it said.
According to the report, luxury retail comes in third with 35 companies offering the service, among which there are high fashion brands Gucci and Ralph Lauren, luxury watches retailer Hublot, as well as jewellers such as Jewelry Affairs and CRM Jewelers.
“Further down on the list, travel and hospitality is fourth with 31 companies accepting crypto payments. These range from commercial airlines such as Norwegian Air and Vueling to private jet hire like Fast Private Jet, LunaJets, and PrivateFly.
“Cruise companies Royal Caribbean and Princess Cruises are also on the list, as well as trip-organising help sites like GetYourGuide.
“The top five closes with internet and online services companies, as 28 accept crypto as a form of payment. These companies offer a service available to use online from our phones and laptops, such as Google Play and Spotify, and different VPN services like CyberGhost VPN, ExpressVPN and FrootVPN,” the report revealed.