Study: More Than 3 Million Americans Will Use Crypto to Pay for Goods and Services

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By the end of the year, more than 3.6 million US adults will use digital currencies to pay for goods and services, Insider Intelligence analysts have said.

According to the company, the United States is on the list of countries with the highest rate of Bitcoin adoption, and the scale of its use as a means of payment will grow by about 70%.

David Morris, an analyst at Insider Intelligence, believes that in addition to Bitcoin, stablecoins are becoming increasingly popular.

The volatility of BTC is offset by fiat-backed digital currencies.

The payment infrastructure is actively developing and there are many opportunities for people to use cryptocurrencies when paying for goods and services. The company predicts that the number of digital currency users in the US will reach 37.2 million by 2023.

Nazmul Islam, forecasting analyst at Insider Intelligence, has said:

“It is easier now to invest in cryptocurrency than ever before. In 2021, cryptos became easier to purchase within apps consumers were already using, and while major financial institutions embraced crypto investments. Add hype surrounding meme stocks like Dogecoin to this easier accessibility, and you have a huge spike in ownership rates.”