Global merchant adoption of Bitcoin grows in 2023 By Investing.com
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WORLDWIDE – Despite the volatility in cryptocurrency markets, over 6,000 merchants around the globe now accept as a form of payment. This uptick in adoption is spread across various regions, with Europe, Latin America, the United States, and the Philippines showing significant engagement. The current number, as tracked by BTC Map, marks a growth from previous figures, albeit lower than the peak recorded in September.
Businesses of different types, including restaurants and bars, are increasingly incorporating Bitcoin into their payment options. They are showing interest in both on-chain transactions and payments via the Lightning Network, a second-layer technology designed for faster and more cost-effective Bitcoin transactions.
On the other hand, the landscape for Bitcoin ATMs paints a contrasting picture. The United States, in particular, has witnessed a downturn in the number of these machines. However, this decline is not universal. Other regions like Canada and the European Union have experienced growth, indicating a mixed response to the infrastructure supporting Bitcoin transactions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
WORLDWIDE – Despite the volatility in cryptocurrency markets, over 6,000 merchants around the globe now accept as a form of payment. This uptick in adoption is spread across various regions, with Europe, Latin America, the United States, and the Philippines showing significant engagement. The current number, as tracked by BTC Map, marks a growth from previous figures, albeit lower than the peak recorded in September.
Businesses of different types, including restaurants and bars, are increasingly incorporating Bitcoin into their payment options. They are showing interest in both on-chain transactions and payments via the Lightning Network, a second-layer technology designed for faster and more cost-effective Bitcoin transactions.
On the other hand, the landscape for Bitcoin ATMs paints a contrasting picture. The United States, in particular, has witnessed a downturn in the number of these machines. However, this decline is not universal. Other regions like Canada and the European Union have experienced growth, indicating a mixed response to the infrastructure supporting Bitcoin transactions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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