{"id":253859,"date":"2022-08-25T19:00:44","date_gmt":"2022-08-25T13:30:44","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=253859"},"modified":"2022-08-25T16:31:23","modified_gmt":"2022-08-25T11:01:23","slug":"what-does-ethereums-buterin-think-about-underrated-crypto-payments","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/what-does-ethereums-buterin-think-about-underrated-crypto-payments\/","title":{"rendered":"What does Ethereum&#8217;s Buterin think about &#8216;underrated&#8217; crypto-payments"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Ethereum co-founder Vitalik Buterin recently <\/span><a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1562542183562878976\"><span style=\"font-weight: 400;\">tweeted<\/span><\/a><span style=\"font-weight: 400;\"> that cryptocurrency payments are superior because of censorship resistance and convenience. This change has given a significant boost to international businesses, charities, and payments within countries, he added.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they&#39;re so much more convenient.<\/p>\n<p>Big boost to international business and charity, and sometimes even payments within countries.<\/p>\n<p>&mdash; vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1562542183562878976?ref_src=twsrc%5Etfw\">August 24, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4><b>Rising crypto-adoption<\/b><\/h4>\n<p>A January 2022 <a href=\"https:\/\/assets.ctfassets.net\/hfgyig42jimx\/5i8TeN1QYJDjn82pSuZB5S\/85c7c9393f3ee67e456ec780f9bf11e3\/Cryptodotcom_Crypto_Market_Sizing_Jan2022.pdf\">report<\/a> by Crypto.com revealed a picture of the financial world, one where cryptocurrencies are being increasingly adopted. In 2021 alone, the global crypto-population increased by 178%, rising from 106 million in January to 295 million in December.<\/p>\n<p><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-2.png\"><img decoding=\"async\" class=\"aligncenter wp-image-253873 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-2.png\" alt=\"\" width=\"536\" height=\"354\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-2.png 536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-2-300x198.png 300w\" sizes=\"(max-width: 536px) 100vw, 536px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">As we can see, the monthly growth of crypto-users closely corresponds to Bitcoin\u2019s price.\u00a0<\/span><\/p>\n<p><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-3.png\"><img decoding=\"async\" class=\"aligncenter wp-image-253874 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-3.png\" alt=\"\" width=\"535\" height=\"314\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-3.png 535w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-3-300x176.png 300w\" sizes=\"(max-width: 535px) 100vw, 535px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Crypto-adoption rate was high back in July-August 2021, but it dropped significantly in September with restrictions in many countries such as <\/span><a href=\"https:\/\/www.reuters.com\/world\/china\/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24\/\"><span style=\"font-weight: 400;\">China<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-4.png\"><img decoding=\"async\" class=\"aligncenter wp-image-253875 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-4.png\" alt=\"\" width=\"522\" height=\"355\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-4.png 522w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-4-300x204.png 300w\" sizes=\"(max-width: 522px) 100vw, 522px\" \/><\/a><\/p>\n<p>We can also see that Bitcoin and Ethereum remain the most popular cryptocurrencies among users, with the former\u2019s share remaining nearly 60%.<\/p>\n<p>BrandEssence Market Research published a <a href=\"https:\/\/brandessenceresearch.com\/cryptocurrency\/crypto-payment-gateway-market\">study<\/a> in June 2022, predicting that the global crypto-payment gateway market is expected to grow with a CAGR of 22.8% between\u00a02022 and 2028.<\/p>\n<p>While North America is expected to capture the largest share in the global crypto-payment gateway market, Asia Pacific is expected to witness the fastest growth in the market.<\/p>\n<blockquote><p>&#8220;Increasing adoption of cryptocurrencies broadly is one of the major factors driving the growth of the global crypto payment gateway market\u2026 However, lack of awareness <i>(emphasis mine) <\/i>in the developing and underdeveloped economies may hamper the market growth. In spite of that, increasing advancements in this field may create more opportunities for the further growth of the market.&#8221;<\/p><\/blockquote>\n<p>The Seychelles-based cryptocurrency exchange Huobi <a href=\"https:\/\/blog.huobi.com\/wp-content\/uploads\/Huobi-Crypto-Perception-Report-2022.pdf\">published<\/a> the Crypto Perception Report 2022 in January. According to this study, only 28% of respondents said that they own cryptocurrency. 47% of respondents said that they don\u2019t own crypto and don\u2019t plan to, and 25% claimed that while they don\u2019t own crypto at the moment, they plan to in the future.<\/p>\n<p>Over 40% of respondents stated that they are not at all knowledgeable or not very knowledgeable of cryptocurrencies while 28% revealed that they are only somewhat knowledgeable.<\/p>\n<p><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-5.png\"><img decoding=\"async\" class=\"aligncenter wp-image-253876 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-5.png\" alt=\"\" width=\"422\" height=\"356\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-5.png 422w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/Pic-5-300x253.png 300w\" sizes=\"(max-width: 422px) 100vw, 422px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Most people are aware of popular cryptocurrencies such as Bitcoin, Dogecoin, Ethereum and Shiba Inu but their knowledge of Tether, Solana or Cardano remains low. Over 50% of respondents say that they aren&#8217;t knowledgeable enough to invest in cryptocurrencies.\u00a0<\/span><\/p>\n<h4><b>Payment solutions integrating with cryptocurrencies<\/b><\/h4>\n<p>Last year, Visa Inc. <a href=\"https:\/\/usa.visa.com\/about-visa\/newsroom\/press-releases.releaseId.17821.html\">announced<\/a> the use of the cryptocurrency USD Coin to settle transactions on its payment network in partnership with crypto.com. Mastercard is also <a href=\"https:\/\/www.mastercard.com\/global\/en\/business\/issuers\/crypto.html\">offering<\/a> a range of cryptocurrency solutions, including the Crypto Card Program to enable crypto usage for everyday transactions.<\/p>\n<p>Many crypto-debit cards such as <a href=\"https:\/\/wirexapp.com\/card\">Wirex<\/a> not only facilitate crypto-payments at POS points, but even reward users with crypto cashbacks.<\/p>\n<p>A June 2022 <a href=\"https:\/\/www.pymnts.com\/wp-content\/uploads\/2022\/06\/PYMNTS-Paying-With-Cryptocurrency-June-2022.pdf\">report<\/a> published by the research firm Pymnts found that 85% of businesses with over $1 billion in annual online sales accept some form of crypto-enabled payment method, such as PayPal, for purchases. 77% of the merchants that accept cryptocurrencies cite its lower processing fees for its appeal.<\/p>\n<p><span style=\"font-weight: 400;\">As we can observe, the adoption of cryptocurrencies by merchants is increasing at a fast rate and as consumers become more crypto-aware and are incentivized to use them, its adoption is bound to increase.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum co-founder Vitalik Buterin recently tweeted that cryptocurrency payments are superior because of censorship resistance and convenience. This change has given a significant boost to international businesses, charities, and payments within countries, he added. Rising crypto-adoption A January 2022 report by Crypto.com revealed a picture of the financial world, one where cryptocurrencies are being increasingly<a href=\"https:\/\/ambcrypto.com\/what-does-ethereums-buterin-think-about-underrated-crypto-payments\/\">Continue reading <span class=\"sr-only\">&#8220;What does Ethereum&#8217;s Buterin think about &#8216;underrated&#8217; crypto-payments&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":253878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[32,44,66,3,4,20],"tags":[],"class_list":["post-253859","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum-news","category-global-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What does Ethereum&#039;s Buterin think about &#039;underrated&#039; crypto-payments - AMBCrypto<\/title>\n<meta name=\"description\" content=\"A January 2022 report by Crypto.com revealed a picture of the financial world, one where cryptocurrencies are being increasingly adopted....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/what-does-ethereums-buterin-think-about-underrated-crypto-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What does Ethereum&#039;s Buterin think about &#039;underrated&#039; crypto-payments - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Ethereum co-founder Vitalik Buterin recently tweeted that cryptocurrency payments are superior because of censorship resistance and convenience. This\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/what-does-ethereums-buterin-think-about-underrated-crypto-payments\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-25T13:30:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/08\/business-7304257_1280-e1661425106383.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/what-does-ethereums-buterin-think-about-underrated-crypto-payments\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/what-does-ethereums-buterin-think-about-underrated-crypto-payments\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"What does Ethereum&#8217;s Buterin think about &#8216;underrated&#8217; 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