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13% of Internet Users Shop Online with Bitcoin

By Warren Hayes | February 17, 2019
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13% of Internet Users Shop Online with Bitcoin

A new survey by Kaspersky Labs shows that 13% of Internet users have used Bitcoin to make purchases online.

Its Kaspersky Lab Global IT Security Risks Survey 2018 was conducted in 22 countries with responses from over 12,000 consumers. However, crypto use is still the least popular method. Credit and debit cards remain the champion favourites with 81% of respondents preferring card payment for online purchases, even though 54% of them are also more worried about their financial credentials being accessed or stolen by cybercriminals than other kinds of private data (e.g. home address).

“Despite a fall in cryptocurrency prices, there is still a strong desire for digital transactions amongst consumers. Our consumer research has found that 13% of people have used cryptocurrency as a payment method, which was surprising to see,” commented Vitaly Mzokov, Head of Verification for Kaspersky’s Growth Center.

“A fraction of internet shoppers seem to have no problems using virtual currencies. More importantly, online retail outlets aren’t shying away from accepting cryptos”, he added.

Data from Coinmap shows that businesses accepting Bitcoin have increased 702% since December 2003. There are now 14,346 businesses that accept Bitcoin compared to 1,789 almost six years ago.

CoinShares CEO, Ryan Radloff also highlighted in a tweet on Tuesday (Feb 12) that with increasing adoption of Bitcoin use in countries like Ecuador and Venezuela, the usage map for South America looks very different from six years back.

Reports show that it is not just online shopping but also brick-and-mortar establishments, like schools and high-end restaurants, that have started offering crypto payment options. In the United States, Europe, and Asia, the sign “Bitcoin accepted here,” is becoming less uncommon.

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