Which Industry is Most Crypto-Friendly?
Pack your bags, Crypto is on the move.
Travel companies have been the biggest adopters of cryptocurrencies out of any business sector or industry, according to research by Traders of Crypto, with 11.54% of crypto-accepting companies.
Leading the Way
Travel booking company Expedia (EXPE) – Get Expedia Group, Inc. Report has led the way in crypto adoption, with customers currently able to pay for hotel bookings using bitcoin.
Several large airlines have also made moves to accept cryptocurrencies as payment including AirBaltic, Norwegian Air, and LOT Polish Airlines, the report said.
E-commerce companies were the second largest group of crypto adopters with 11.06% of stores that accept crypto.
EBay (EBAY) – Get eBay Inc. Report, which aims to be the marketplace for Gen-Z and millennials, recently said that it is studying the possibility of adding cryptocurrencies as possible means of payment.
The company already accepts NFTs, or non-fungible tokens.
Non-profits were in third place with 9.13% of organizations that accept crypto payments. In 2019, UNICEF became the first UN organization to receive, hold, and redistribute cryptocurrency.
The food and beverage sector was next with 8.65% of crypto-accepting companies. Gambling and retail were tied for fifth place with 7.2% each.
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Entertainment, internet services, finance and gift cards rounded off the top 10 list.
AMC Entertainment (AMC) – Get AMC Entertainment Holdings, Inc. Class A Report recently began accepting payments in dogecoin and shiba inu. In November, the movie theater company began accepting bitcoin, ether and other cryptocurrencies for online payments.
‘The Most Crypto-Accepting Companies’
In compiling the report, Holders of Crypto said it created a list of companies that accept cryptocurrency using a variety of sources and articles.
The report also looked for countries that were most agreeable to crypto.
“The United States has by far the most crypto-accepting companies, with 49.52% of companies in our study calling the country home,” the report said.
While the U.S. is currently the best place for spending crypto in the same way as flat currency, the report said that America is also home to a large proportion of the world’s biggest tech companies and global brands.
“[Those] have the economic clout to trial and test-run this new form of payment with minimal risk to their overall business,” it said.
The United Kingdom was second on the list, followed by Germany, Canada, Cyprus and Australia.
The focus of crypto intensified recently when President Joe Biden signed an executive order on cryptocurrencies last week.
Among other things, Biden’s order directs Treasury and other departments to come up with policy recommendations “to address the implications of the growing digital asset sector and changes in financial markets for consumers, investors, businesses, and equitable economic growth.”
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