Bitpay Statistics By Country, Brand Profile, Devices, Marketing Channel Distribution, Various Sources And Trends
Maitrayee Dey
Updated · Nov 07, 2024
WHAT WE HAVE ON THIS PAGE
- Introduction
- Editor’s Choice
- Bitpay Statistics By Country
- Bitpay Brand Profile in The United States
- Bitapay Brand Profile In United Kingdom
- Distribution Of Cryptocurrency Transactions Processed Via BitPay
- Bitpay Statistics By Devices
- Bitpay Marketing Channel Distribution
- Bitpay Website Traffic By Various Sources
- Rising Trends In Bitpay Payments
- Conclusion
Introduction
Bitpay Statistics: As we review the year 2024, Bitcoin’s popular digital currency payment system, Bitpay, still stands atop one of the prominent cryptocurrency payment processors. Due to the increasing use of virtual currencies around the globe, the entity’s services have diversified into many sectors, further easing crypto transactions for businesses and customers.
Here is an in-depth assessment of Bitpay statistics performance, development, and statistics for the year 2024.
Editor’s Choice
- Bitpay statistics show that during the previous month, Over the last month, there were 70,884 cryptocurrency transactions.
- Over the last six months, this number escalated and stood at around 461,488 transactions.
- BitPay boasts a transaction success rate of 99.98% among service users.
- Currently, 27.87% of the users on the platform are female, while 72.13% are male. Female users aged 18 and over can join BIT-67.
- The platform processes 16 currencies, which represents 70% of the crypto economy, and averages seven transactions per second.
- There are more than 1.2 million backlinks on the website BitPay.com, which has recorded a rise of about 1.3% recently. The site has a 77.32% bounce rate.
- Bitpay statistics reveal that over 250 entities, as well as all the brick-and-mortar shops, accept cryptocurrency from the users, and the experience is found in 229 countries.
- Thirty-eight countries have the provision for bank deposits, and 293 domains are catered to by BitPay. Domains Supported by BitPay.
- Moreover, in the year 2023, BitPay managed to command 5.29% of the overall traffic share in the cryptocurrency payment system industry, with BitPay being the only Bitcoin service provider for over 295 corporations.
- Using the Bitcoin wallet, a customer can simply deposit money into the seller’s bank account.
- In terms of crypto transactions processed over the year, Bitpay surpassed $4 billion in 2024, a 20% increase compared to the figures for the previous year. – Intercash Accounts.
- Payments over the platform are available to more than 200 countries worldwide, which allows settlements to be made with minimum transaction costs and much quicker than previously possible. – cross-border Payment.
- According to Bitpay, around 40% of its total transactions are currently being executed in Europe, while North America is reported to account for 35% of the transactions. – Aztec’s Model.
- 2024 saw a revolution since Bitpay began its operations, supporting 15 different currencies, including Bitcoin (BTC) and Ethereum (ETH), together with newly introduced currencies Solana (SOL) and Cardano (ADA).
- The platform has a daily transaction volume of more than 200,000, with $300 being the average transaction amount.
- On the Bitpay platform, Bitcoin is the most used currency, accounting for 60% of all transactions, followed by Ethereum, which accounts for 20% of the transactions.
- In 2023, the number of merchants accepting Bitcoin payments via Bitpay has increased to over 30,000, which represents an increase of 15%.
- The primary segments are e-commerce, 30%; hospitality, 25%; and financial services, 20%.
- In terms of market segmentation by industry, over 45% of Bitpay’s merchants are e-commerce and retail businesses, which shows how online shoppers need to have an option for such a payment method.
- Bitpay statistics indicate that as of 2024, there was a growth in consumer spending via Bitpay at 25% because more people have turned to using crypto for daily purchases.
- The use of the Bitpay-provided crypto debit cards experienced a rise in spending on these cards of around 30%, with a total transaction volume amounting to $600 million.
- Interestingly, 20% of Bitpay’s clientele spends their cryptocurrency on travel and lodging facilities, while entertainment and digital services take 15% of the clientele’s crypto spending.
- Bitpay generates most of its revenue from transaction fees imposed on all transactions, which range from 1% to 1.5%.
- Because of the increase in volume, Bitpay’s revenue from fees alone is expected to hit $60 Million by the close of 2024.
- In addition, Bitpay earns additional revenue from its premium merchant accounts, with more merchants needing premium support and security services, bringing in an extra $15 million.
- Bitpay has been associated with ATM providers to create access to cryptocurrencies in various cities around the globe. By 2024, 2,000 ATMs were deployed, accumulating to 5,000, where crypto coins can be traded for local currencies.
- The number of ATMs increased by 30%, and each ATM contributed 1500 transactions a month, underscoring the growing acceptance of the use of crypto ATMs.
- Bitpay has stepped up its investments in security solutions, investing $10 million in the Purchase of sophisticated fraud detection and compliance systems.
- In 2024, the rate of fraud-related transaction cases dropped by 15%, thanks to enhanced security systems and real-time detection and prevention mechanisms powered by machine learning.
Bitpay Statistics By Country
| Country | Website |
| United Kingdom | 130 |
| India | 12 |
| Canada | 8 |
| France | 8 |
| Italy | 8 |
| Mexico | 6 |
| United Kingdom | 6 |
| China | 5 |
| Australia | 4 |
| Brazil | 4 |
| Rest of The World | 60 |
(Source: enterpriseappstoday.com)
- Bitpay statistics state that in the US alone, about 130 online platforms support BitPay, which is the highest in the world. India is second with 12 such websites, while Canada, France, and Italy have eight such websites each.
- There are six such websites in Mexico and the UK and five such websites in China. Australia and Brazil each have four active websites with the BitPay option, while an additional 60 countries have an insignificant number of websites powered by the platform.
- BitPay boasts a transaction success rate of 99.98%. At just 0.47%, a flat fee, payment of tokens via Bitcoin is considered inexpensive compared to other payment services.
- Within the last six months, roughly 461,488 crypto transactions have been conducted by BitPay, of which 70,884 quaked within the last 30 days.
- Known as the largest cryptocurrency payment processor, BitPay provides facilities for coin transactions all around the world where Bitcoin, as always, is the preferred mode of payment.
Bitpay Brand Profile in The United States
- BitPay’s assisted brand recognition survey suggests that they have 25% brand awareness among digital payers in the U.S. using the within-quoted segment.
- There was also a finding that only 4% of the United States users of digital payment services prefer BitPay.
- Bitpay statistics reveal that 25% of those who are aware of the brand, only one-sixth have a positive perception of it.
- Among digital payment users in the USA, the market share of BitPay is 4%, meaning that out of those who know the brand, 16% actually use it.
- In terms of user retention, barely 2% of digital payment users in the United States state that they will use BitPay in the future. This shows that 50% of the users in the present day are loyal to the brand its users.
- Regarding the market interest, around 5% of the digital payment users in the country had come across BitPay either in the media, social networks, or advertising activities three months prior to August 2022.
- Of users who know about BitPay, 20% stated that they had seen the brand lately. Thus, the buzz in the country is quite low.
Bitapay Brand Profile In United Kingdom
- According to Bitpay statistics, BitPay’s brand awareness among users of digital payment systems was reported to be 22%, in which frame-aided brand recognition was used, having been shown to the respondents a logo as well as the name of the brand.
- Among the UK digital payment users, 3% are familiar with BitPay, and among those familiar with the brand, 14% hold a positive opinion of the brand.
- Similarly, BitPay has a usage share of 3%. That is how many are aware of BitPay. Only 14% utilize the service.
- As for customer retention, only 2% of evidently UK digital payment users would opt to use BitPay again.
- This would mean 67% loyalty from the active users of the brand, considering its 3% usage share.
- In August 2022, only about 3% of UK digital payment users stated that they had seen BitPay in the media, social media, or advertisements in the last three months.
- This is equivalent to 14% of those familiar with BitPay, which suggests that the brand was suffering from fairly low word-of-mouth levels in the UK at the time of the survey.
Distribution Of Cryptocurrency Transactions Processed Via BitPay
| Characteristic | May 2020 | July 2020 | Sep 2020 | Nov 2020 | Mar 2021 | Dec 2021 | May 2023 |
| Prepaid/gift cards | 10.20% | 16.50% | 26.30% | 33.83% | 41.15% | 44.46% | 27.62% |
| Internet | 24% | 22% | 23.49% | 15.20% | 13.56% | 14.92% | 20.84% |
| Computer games | 4.70% | 4.20% | 3.25% | 2.45% | 5.45% | 9.34% | 19.83% |
| VPN/hosting | 10.60% | 10.40% | 12.18% | 13.43% | 13.61% | 12.24% | 15.52% |
| IT | 2.10% | 1.90% | 2.19% | 2.59% | 2.12% | 2.07% | 3.56% |
| Logistics | – | – | – | – | – | – | 1.80% |
| Precious metals | – | – | – | 2.01% | 6.85% | 3.77% | – |
| Consumer electronics | 1.50% | – | 1.74% | – | 3.19% | 2.56% | – |
| Retail industry | – | – | – | – | – | 1.12% | – |
| Package delivery | – | – | – | – | – | 0.97% | – |
| Computer networking | – | – | – | – | – | 0.96% | – |
| Currency exchange | 3.10% | 3.10% | 3.19% | 3.15% | 1.49% | – | – |
| Financial services | 26.60% | 23.30% | 11.61% | – | 1.20% | – | – |
(Source: statista.com)
- Bitpay statistics reveal that as of May 2023, prepaid and gift cards dominated BitPay Payment transactions around the world, with this payment option constituting more than 25% of the processed transactions.
- As an example, when consumer electronics exhibited the legacy of the industries that used the services of BitPay the least.
- BitPay, which is headquartered in Atlanta, Georgia, acts as an aggregator that processes Bitcoin payments for online merchants and connects customers to merchants.
- With customers paying the merchants in Bitcoin on the merchant’s site, BitPay exchanges the Bitcoin for USD and wires the funds to the merchant.
- This does not align with the March 2021 approach by Tesla, which ‘suspended’ direct transactions of Bitcoin and Dogecoin along with using an aggregator, which was implemented as they intended to keep Bitcoin in their treasury.
Bitpay Statistics By Devices
(Reference: enterpriseappstoday.com)
- The users of Bitpay.com differ depending on the region and usage. In the US, with 90.06% of the total number of users (approximately 2.6 million users), 15.5% are desktop users, whereas 84.5% use mobile devices.
- In Germany, 1.37% of the total users (about 40,000 users), 21.49% visit the desktop version of Bitpay.com, and 78.51% visit the site from a smartphone.
- In the Russian Federation, approx. 1.06% of users, or around 31,100 people, visit the site; 46.39% of them do it using desktop computers, while 53.61% – use mobile devices. The Netherlands and India comprise 1% and 0.75% of Bitpay’s audience.
- The Netherlands has about 29,200 users: 35.42% of them use desktops, while 64.58% prefer smartphones.
- In contrast, 21,900 users in India access the website only through desktop computers. It has been reported that 20.1% of visitors to Bitpay.com worldwide are desktop users, whereas 79.9% are mobile users.
- According to Bitpay statistics, there are around 1.2 million backlinks for the website, which has increased by 1.3%. By gender, the audience of Bitpay can be characterized as 27.87% female and 72.13% – male.
- Usually, the age group 18-24 years comprises 21.60% of the users, with the majority age group being 25-34 and comprising 34.54% of the users. In addition, among the users, 20.74% are aged 35-44, 45-54 include 11.77%, 55-64 are 7.16% and over 65 are 4.18%.
- According to statistics obtained from Bitpay, the traffic of the Bitpay.com website is 100% organic.
Bitpay Marketing Channel Distribution
(Reference: similarweb.com)
- According to Bitpay statistics from the past month, Organic Search has, so far, proven to be the most effective source of traffic, accounting for 42.22% of last month’s desktop visits.
- The next most popular traffic source is Direct traffic, which constitutes over 40.23% of the desktop visits.
- The most seized opportunity for Bitpay.com is Paid Search. This channel refers to placing advertisements on plates in search engines that come at the particular keywords targeted by the advertisers.
Bitpay Website Traffic By Various Sources
(Reference: enterpriseappstoday.com)
- Bitpay statistics indicate that approximately 31.64% is reportedly from traffic sources, including computer electronics and technology.
- Similarly, websites such as video game consoles and accessories contribute approximately 19.87% of the traffic.
- In addition, web hosting and domain name websites contribute about 4.71% of the traffic. It is also positioned that financial websites across the globe provide 3.69% of the traffic, and programming and developer software websites aggregate 1.83%.
- Other websites, adding up to 38.27% of traffic coming from different sources, contribute minor traffic.
- Bitpay.com received an approximate traffic of about 2.9 million individuals in October 2022, which is equal to the one recorded in August 2022.
- However, in July, there was a decline of about 1.0% in the number of visitors.
Rising Trends In Bitpay Payments
- Bitpay statistics indicate that crypto transaction volume surged by 20% starting in January 2024, and a turning point in Bitcoin (BTC) prices and consumer expenditure was recorded in March 2024.
- Between January 1 and March 31, 2024, this upsurge in expenditure grew across almost every sector, with specific industries even posting more remarkable growth.
- For instance, expenditures on cars, boats, and other luxurious automobiles increased by 56%, contributions and charity work growth rose by 324%, luxury products and jewelry grew by 39%, gold, and other precious stones grew exponentially by 205%, aged and electronic gadgets grew by 64%.
- As of March 2024, more than 50% of the total sales volume was accounted for by BTC for cryptocurrencies. Nevertheless, USDT, LTC, and even ETH began to bring more and more energy into the crypto payment sales systems.
- Additionally, BitPay Bill Pay services established that clients were making their payments from available credit without racking up embarrassing combinations.
- The average payment was $1,200, with credit card repayments accounting for 85% of BitPay Bill Pay services transactions.
- Moreover, in the course of March 2024, spenders of cryptocurrency had also transfused certain portions of their obtained cryptocurrency profits into gift cards that helped them in a flexible and easy way of transacting online or even in stores rather than directly spending money on merchants and settling their bills.
Conclusion
In the year 2024, Bitpay statistics have been able to exhibit huge growth and adjustment to the constant changes in the crypto landscape. With its ongoing emphasis on protection, consumer availability, and universal inclusion, Bitpay’s contribution to the adoption of cryptocurrency will be paramount shortly.
FAQ.
How will 2024 turn out for Bitpay?
Bitpay is one of the most popular integrations that allows the use of Bitcoin and other crypto assets to make payments. In 2024, it processed more than $4 billion worth of transactions, which was a 20% increase compared to the prior year, with a transaction success rate of 99.98%.
Which industries are recording high crypto spending on Bitpay?
Between January and March of 2024, almost all industries recorded an upsurge in the spending on crypto assets, with particular increases noted in envoy (increased by 324%), gold and precious metals (205% increase), and cars and luxury automobiles (56% increase).
How many clients and transactions are processed by Bitpay?
In 2024, approximately 200,000 transactions are being processed by Bitpay on a daily basis, with the users being over 2.6 million, mainly from the USA. The system allows payment processing in 16 cryptocurrencies, while the number of merchants using the system to accept Bitcoin payments has already exceeded 30,000.
What is the structure of Bitpay’s audience in regard to gender?
72.13% of Bitpay’s audience are men, while the age group of 25-34 forms the highest percentage of the audience at 34.54%. The percentage of female users in the network is also high at 27.87%, with most users accessing the platform through mobile phone applications at 79.9%.
How does Bitpay make its money?
Most of Bitpay’s revenue, which ranges between 1% and 1.5% of the transaction values, is dependent on transaction fees. By the end of 2024, the company is expected to make around $60 million from transaction fees only, with about $15 million coming from premium merchant accounts that provide additional support and security services.
Maitrayee Dey
Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.
