The cryptocurrency industry is growing at the same rate as the internet and has decades of adoption ahead of it. As regulatory guidelines are established, and more capital comes into the system, both consumers and merchants alike have shown increased interest in transactions in cryptocurrencies.
In this Swapin Research Report, we examine which industries are most ready to accept cryptocurrency payments from customers and how innovative Swapin solutions can make it happen.
Which Business Sectors Are Ready To Adopt Crypto Payments?
One complaint regarding cryptocurrencies is that few merchants accept them as a form of payment, leaving users to hold, trade, or stake assets instead. But the demand to use cryptocurrencies to pay for goods and services is exploding on the consumer side post-pandemic. Businesses are keen to cater to this growing demand, as data from Statista shows.
However, some business categories are showing a higher level of readiness to accept cryptocurrencies than others. Luxury goods retailers rank among the highest in terms of overall interest, and for a good reason –– crypto users like to splurge on expensive brands, buy watches, and other status indicators.
The broad retail and grocery category also shows a similar interest level from merchants, with even more interest on the consumer end. Financial services industries are eager to accept crypto payments, but consumers simply aren’t showing interest just yet. Meanwhile, digital media, gaming and NFTs, travel, and automotive all show strong consumer demand combined with growing interest from merchants in the category.
How Companies Are Accepting Crypto Today With Swapin Solutions
The trends in the chart also are translating into real-world transactions between crypto holders and merchants since the introduction of Swapin crypto-to-fiat solutions. Swapin tools are the missing link currently between crypto and traditional finance. Major merchants have to consider operational aspects of their business, like accounting and compliance, which Swapin makes a lot easier with its innovative B2B tools.
Swapin products and services have been introduced to consumers through significant brand partnerships with iconic companies like RE/MAX, Aufort Gold, E-Jewels, and many more. The customers of these companies are able to pay with crypto via the Coin Collector invoicing tool or the E-Com plug-and-play ecommerce widget that lets users pay with crypto on any company website.
Consumers are responding with an upsurge in usage. Businesses globally are reaping the extraordinary benefits of tapping into a new, savvy audience and growing sizable revenue streams. By taking the friction out of accepting cryptocurrencies, more customers and merchants are connecting in this way.
All About Swapin And The Future Of Cryptocurrency Adoption
The key to the sudden rise in cryptocurrency adoption related to Swapin services is that although merchants are accepting cryptocurrency payments, Swapin’s crypto-to-fiat payments instantly convert any cryptocurrencies to EUR or GBP and immediately transfers it to a connected corporate IBAN account.
Both businesses and individuals avoid the risk of volatility or loss associated with using cryptocurrencies because Swapin locks the exchange rate for 30 minutes while the transaction takes place. Swapin services are licensed and regulated, with glowing reviews from real-world users on TrustPilot. The company also recently raised over €1.69M in a funding round, attracting investors and advisors from several tech- and finance-adjacent industries.
Swapin also offers a variety of B2C tools that make using cryptocurrencies for everyday payments like rent and subscriptions, not just possible but convenient as well. The company also published a preview of its upcoming InstaBuy solution and is working to introduce new features that establish the Swapin brand as a one-stop-shop for the rapidly-scaling crypto-based consumer economy. Check out the Swapin app and experience the future of finance today.
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