Travel and hospitality are among the sectors that accept cryptocurrencies as payments

A new study by crypto tax software CoinLedger reveals that the retail and e-commerce sector has the highest number of companies offering the option to purchase through cryptocurrencies.

The study compiled a list of over 300 major companies that are known to accept cryptocurrency methods and classified them into sectors, to find out which one contains the largest number of companies that offer cryptocurrency as a payment method.

Retail and e-commerce take first place with a total of 60 companies accepting crypto payments. The sector includes clothing and accessories stores such as Adidas, Yankee Candle and H&M, as well as online shopping platforms such as Etsy.

Second place on the list is the Food and Dining sector with 54 companies. Examples include Chipotle, Chuck E Cheese's, Domino's and Hard Rock Café, and delivery services like DoorDash and Uber Eats. Different services gradually became available in different countries: Burger King Venezuela accepts Bitcoin payments since 2020.

Luxury retail is in third place with 35 companies offering the service, including high fashion brands Gucci and Ralph Lauren, luxury watch retailer Hublot, as well as jewelers such as Jewelry Affairs and CRM Jewelers.

Further down the list, Travel & Hospitality comes in fourth place with 31 companies accepting crypto payments. These range from commercial airlines such as Norwegian Air and Vueling to private jet charters such as Fast Private Jet, LunaJets and PrivateFly. Cruise companies Royal Caribbean and Princess Cruises are also on the list, as well as travel planning help sites like GetYourGuide.

The top five are closed by Internet and online services companies, since 28 accept cryptocurrencies as a form of payment. These companies offer a service available to use online from our phones and laptops, such as Google Play and Spotify, and different VPN services such as CyberGhostVPN, ExpressVPN and FrootVPN.

David Kemmerer, Co-Founder and CEO of CoinLedger, commented on the findings: “The growing number of companies accepting cryptocurrency payments reflects the growing acceptance and adoption of digital currencies in the mainstream economy. This trend not only aligns with the changing preferences of tech-savvy consumers, but also offers benefits such as reduced transaction fees and increased security. From large retailers to small businesses, the diversification of sectors adopting cryptocurrencies demonstrates the versatility and potential of blockchain technology. As this trend continues, it is likely to contribute to broader acceptance of cryptocurrencies as a legitimate form of payment, paving the way for a more decentralized and accessible financial landscape.”

 Source: Journal Research.