Penetration of crypto as a means of payment in selected countries worldwide in 2023
Cryptocurrency as a payment method rarely exceeded three percent of overall payments within a country between 2021 and 2023. This is according to multiple payment diary surveys held domestically across the world, at various times. Due to the decentralized nature of cryptocurrencies – Bitcoin itself, for example, was initially created as a protest against central authorities – there is no unified approach or database to track how much the digital asset is used as a payment method. Some central banks or financial watchdogs therefore included crypto payments in their payment diary surveys. The figures above indicate that cryptocurrency payments are relatively rare, and most consumers use the asset for investment purposes.
