Dominyka is a Copywriter at CoinGate. During her career as a copywriter, journalist, and communication specialist, she had the opportunity to handle a wide range of topics, from human rights to lifestyle articles, technology, and now crypto. She sees the importance of new technologies spread and a need for educational and usable content.

Vilius is a seasoned copywriter and bitcoin enthusiast specializing in blockchain and cryptocurrency topics. He's been with CoinGate since 2018, writing blogs, social media content, sales materials, newsletters, FAQs, and more. He's relentless in pursuing knowledge and a better understanding of the crypto industry, which helps him create meaningful and engaging content every day.

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<p><strong>The continuing bear market makes many people assume that cryptocurrencies and their usefulness as means of payment are on their way to perish. But what do the cold-hearted numbers tell us about the actual crypto payments in e-commerce?</strong></p>



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/01/b71e3fd4-2022review_pr_blog-1024x530.png" alt="" class="wp-image-6454" srcset="https://wp-blog-assets.coingate.com/2023/01/b71e3fd4-2022review_pr_blog-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/01/b71e3fd4-2022review_pr_blog-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/01/b71e3fd4-2022review_pr_blog-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/01/b71e3fd4-2022review_pr_blog-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/01/b71e3fd4-2022review_pr_blog-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/01/b71e3fd4-2022review_pr_blog.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>As a prominent <a href="https://coingate.com/accept" target="_blank" rel="noreferrer noopener">cryptocurrency payment processor</a>, we’re in a decent position to paint a bigger picture of the crypto payments landscape and tell a story that, for some, might be surprising. </p>



<p>Without further ado, let’s see how crypto shoppers behaved in 2022, what cryptocurrencies were dominating the retail payments sector, and what conclusions we can draw based on data brought to your attention by CoinGate.</p>



<h2>Bear market or not, people are spending crypto like there’s no tomorrow</h2>



<p>Since 2014 when CoinGate first started processing cryptocurrency payments for businesses, merchants have received over 2.5 million customer payments for their goods and services–that’s 312,500 orders per year on average.</p>



<p>Over the span of 2022, however, CoinGate-powered merchants have collected 927,294 payments in total, or approximately 2.7 times more than the yearly average, marking a 63% increase from the previous year of 2021.</p>



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/01/8d1e4ae7-infographic_pr_2022review_blog_01-1024x530.png" alt="payments in crypto over the years" class="wp-image-6455" srcset="https://wp-blog-assets.coingate.com/2023/01/8d1e4ae7-infographic_pr_2022review_blog_01-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/01/8d1e4ae7-infographic_pr_2022review_blog_01-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/01/8d1e4ae7-infographic_pr_2022review_blog_01-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/01/8d1e4ae7-infographic_pr_2022review_blog_01-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/01/8d1e4ae7-infographic_pr_2022review_blog_01-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/01/8d1e4ae7-infographic_pr_2022review_blog_01.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>To put this number into perspective, that’s one paid order processed by CoinGate every 34 seconds. That’s impressive, considering the depth of an ongoing bear market, which suggests that hemorrhaging markets do not necessarily discourage people from going on a shopping spree.&nbsp;</p>



<p>In fact, it’s quite the opposite, as the merchants’ turnover in 2022 had increased by a staggering 60% compared to a year before when crypto markets peaked, with <a href="https://coingate.com/blog/post/buy-vpn-bitcoin-altcoins" target="_blank" rel="noreferrer noopener">VPN</a>, <a href="https://coingate.com/blog/post/buy-vps-crypto" target="_blank" rel="noreferrer noopener">VPS</a> and hosting service providers reaping the most rewards.</p>



<p>This begs the question – do crypto users just not care about coins losing their value, or is <a href="https://coingate.com/blog/post/spend-crypto-for-everything" target="_blank" rel="noreferrer noopener">spending crypto</a> just another clever way to exit the market without paying taxes?</p>



<h2>What cryptocurrencies are people actually spending?</h2>



<p>While CoinGate merchants accept more than 70 cryptocurrencies for payments, some are being used more frequently than others.&nbsp;</p>



<p>No big surprises at the top of the food chain – in 2022, Bitcoin accounted for nearly half or 48% of all transactions. Notably, it’s 7.6% less than in 2021, suggesting that Bitcoin’s dominance in payments, despite the growing number of transactions, has been slightly diminished by altcoin payments. </p>



<p>So what coins are taking the shine from Bitcoin? The second most popular cryptocurrency used for shopping in 2022 was USDT, with 14.8% dominance, followed by Ethereum (10.9%), Litecoin (9.6%) and TRON (5.8%).</p>



<p>The most eye-catching change over the past few years is the sudden rise in popularity of <a href="https://coingate.com/accept/tether" target="_blank" rel="noreferrer noopener">USDT</a> as, in 2021, USDT accounted only for 2.3% of all payments made to merchants – 12.5% less than in 2022, suggesting that stablecoins are becoming a much more prevalent payment option.</p>



<p>Also, in 2022 some coins reached the TOP 10 most used cryptos list for the first time – that’s BNB (3.5%) and ADA (1.1%). Will they keep their momentum moving forward?</p>



<h2>The growth of Lightning Network is remarkable to witness</h2>



<p>BTC <a href="https://coingate.com/blog/post/lightning-network-bitcoin-stats-progress" target="_blank" rel="noreferrer noopener">Lightning Network</a> continues disrupting the payments industry by showing consistent growth and increasing user confidence each year. </p>



<p>In 2022 alone, payments made through the Lightning Network grew by 97% and accounted for 6.29% of all orders paid in Bitcoin, compared to 4.53% in 2021. That means, on average, last year, every 16th order at CoinGate was paid using the Lightning Network layer. </p>



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2023/01/1db195f8-infographic_pr_2022review_blog_03-1024x530.png" alt="lightning network merchant payments 2022" class="wp-image-6458" srcset="https://wp-blog-assets.coingate.com/2023/01/1db195f8-infographic_pr_2022review_blog_03-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2023/01/1db195f8-infographic_pr_2022review_blog_03-300x155.png 300w, https://wp-blog-assets.coingate.com/2023/01/1db195f8-infographic_pr_2022review_blog_03-150x78.png 150w, https://wp-blog-assets.coingate.com/2023/01/1db195f8-infographic_pr_2022review_blog_03-768x397.png 768w, https://wp-blog-assets.coingate.com/2023/01/1db195f8-infographic_pr_2022review_blog_03-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2023/01/1db195f8-infographic_pr_2022review_blog_03.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>In general, 2022 was great for the Lightning Network as the capacity in BTC has doubled over the year while the node count has increased as well, signaling a speeding-up adoption of its use.&nbsp;</p>



<p>Knowing how much effort in development is put into this technology, it’s unlikely to see the adoption rate slowing down anytime soon.</p>



<h2>Businesses remain curious and optimistic about crypto payments</h2>



<p>Despite the overall market downturn, CoinGate has witnessed a 48% increase of newly registered merchants in 2022 compared to 2021, with such industry juggernauts like NordVPN joining the list of crypto-friendly establishments.&nbsp;</p>



<p>The most common reason for accepting crypto payments cited by merchants remains the same every year – better accessibility to services for the unbanked and privacy-conscious customers, ultimately resulting in more sales. </p>



<p>According to the CEO of IT infrastructure service provider Cherry Servers, Vaidas Rutkauskas, accepting crypto payments was one of the most successful business decisions in a long time.</p>



<p>“We have integrated crypto payments based on our customer needs – most of them prefer paying with crypto,” explains Vaidas, adding that “customers were happy with the innovation, and we were excited about the opportunity to offer our services to an even wider range of customers. Currently, crypto payments take up a large part of our basket, and consistent growth is observed.”</p>



<p>Donatas Strazdas, a Financial Analyst representing a VPN provider Surfshark, also shared his point of view regarding the need for crypto payments: “Some of our customers take care of their privacy on the Internet almost religiously, so paying with a decentralized and completely anonymous currency is one of the few acceptable ways to pay for services. To enable such users to use our product, we have decided to introduce cryptocurrency payments.”</p>



<p>Since today’s payment processors eliminate the headache of crypto price volatility by allowing instant settlements to fiat currencies, there aren’t many reasons why setting up crypto payments shouldn’t be considered by merchants seeking innovative ways to reinvigorate their businesses.</p>



<p>That’s also the train of thought of another company that employs CoinGate services – Hostinger. “Not only we have the option to offer different types of cryptocurrencies for payments, but we are also able to control the volatility risk by converting crypto to fiat instantly, which is one of CoinGate’s features we enjoy the most,” says Gediminas Griška, Hostinger’s Head of Payments.&nbsp;</p>



<h2>Conclusion</h2>



<p>One thing we can say for sure is that the growth of cryptocurrency payments adoption is not slowing down but speeding up.&nbsp;</p>



<p>Will more businesses take advantage of cryptocurrencies in 2023, seeing how rewarding and low-risk this step is? Only time will tell, but we remain optimistic.&nbsp;</p>


<p>What do the cold-hearted numbers tell us about crypto payments in e-commerce?</p>


CoinGate In 2022: Did Crypto Payments Perform Well?


<p><strong>Christmas is just around the corner and it’s time to start thinking about what gifts to get for your loved ones. </strong></p>



<figure class="wp-block-image size-large is-style-default"><img loading="lazy" width="1024" height="530" src="https://wp-blog-assets.coingate.com/2022/12/fd151c58-giftideas_christmas_2022_blog-1024x530.png" alt="christmas gift ideas for btc" class="wp-image-6390" srcset="https://wp-blog-assets.coingate.com/2022/12/fd151c58-giftideas_christmas_2022_blog-1024x530.png 1024w, https://wp-blog-assets.coingate.com/2022/12/fd151c58-giftideas_christmas_2022_blog-300x155.png 300w, https://wp-blog-assets.coingate.com/2022/12/fd151c58-giftideas_christmas_2022_blog-150x78.png 150w, https://wp-blog-assets.coingate.com/2022/12/fd151c58-giftideas_christmas_2022_blog-768x397.png 768w, https://wp-blog-assets.coingate.com/2022/12/fd151c58-giftideas_christmas_2022_blog-1536x794.png 1536w, https://wp-blog-assets.coingate.com/2022/12/fd151c58-giftideas_christmas_2022_blog.png 1856w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>With the holiday season in full swing, it can be difficult to find the perfect gift. But with the right gift cards, surely you can find something that they’ll love.And with the help of Bitcoin and crypto, you can score amazing gift cards at great discounts.&nbsp;</p>



<p>In this article, we’ll take a look at last minute Christmas gift ideas, what to look for in a gift card, where to find the best gift cards for crypto, tips for shopping for gift cards with Bitcoin and crypto, and some of the <a href="https://coingate.com/gift-cards/category/gift-card-deals" target="_blank" rel="noreferrer noopener">best gift card deals</a> at CoinGate.</p>



<h2>Last Minute Christmas Gift Ideas</h2>



<p>It’s the most wonderful time of the year, and if you’re like most people, you’re feeling the pressure to find the perfect Christmas gifts. With shopping malls overcrowded, it can be tough to find the perfect gift in the nick of time.&nbsp;</p>



<p>But with the help of gift cards, you can make last-minute Christmas gifts a breeze. Gift cards are a great way to show your loved ones that you care, without having to run around town trying to find the perfect gift.</p>



<p>Gift cards are also a great way to save money. You don’t have to worry about overspending on something that your loved one already has. By giving them a gift card, you can let them choose a gift that they’ll love and that fits their budget. .</p>



<h2>What to Look for in a Gift Card?</h2>



<p>When it comes to choosing the right gift card, there are a few things you should consider. First, you want to make sure that the recipient will actually use the gift card.&nbsp;</p>



<p>If they’re not into fashion, for example, then an H&amp;M gift card may not be the best option but a Steam gift card might be.&nbsp;</p>



<p>You should also consider the denomination of the gift card. Some stores offer gift cards with different values, so you can choose the one that best fits your budget.</p>



<p>Another thing to consider is the expiration date. Some gift cards expire after a certain amount of time, so you want to make sure that the recipient will be able to use the card before it expires.</p>



<p>Lastly, you want to make sure that the card is from a reputable store. Not all gift cards are created equal, so you want to make sure that you’re getting one from a trusted store.</p>



<h2>Tips for Shopping for Gift Cards with Bitcoin and Crypto</h2>



<p>When it comes to shopping for gift cards with Bitcoin and crypto, there are a few tips you should keep in mind. First, make sure you’re getting the best deal. For that, check the <a href="https://coingate.com/gift-cards/category/gift-card-deals" target="_blank" rel="noreferrer noopener">best gift card deals</a> section on CoinGate.</p>



<p>Second, make sure you’re using a secure payment method. When buying online, it’s important to use a secure payment method to protect your personal information.&nbsp;</p>



<p>Bitcoin and crypto are both secure ways of payment, so you can rest assured that your personal information is safe.</p>



<p>Lastly, make sure you’re buying from a reputable site. As with any online purchase, it’s important to do your research and make sure that the site is legitimate. CoinGate has been around for several years, and is an well-established and ever-growing store for crypto gift cards, so you’re likely to get the best deals here.</p>



<h2>Where to Find the Best Gift Card Deals for Crypto?</h2>



<p>When it comes to finding the best gift cards for crypto, there are a few options. You can find physical gift cards in stores (although unlikely), or you can purchase them online.&nbsp;</p>



<p>For physical gift cards, try your luck at your local stores to see what options they have. For online gift cards, there are a few sites that specialize in selling them for crypto.</p>



<p><a href="https://coingate.com/gift-cards">CoinGate</a> is one of the best sites for crypto gift cards as there’s a wide selection of gift cards from top brands like <a href="https://coingate.com/gift-cards/airbnb" target="_blank" rel="noreferrer noopener">Airbnb</a>, <a href="https://coingate.com/gift-cards/amazon" target="_blank" rel="noreferrer noopener">Amazon</a>, <a href="https://coingate.com/gift-cards/uber-eats" target="_blank" rel="noreferrer noopener">Uber Eats</a>, <a href="https://coingate.com/gift-cards/target" target="_blank" rel="noreferrer noopener">Target</a>, <a href="https://coingate.com/gift-cards/hotels-com-usa" target="_blank" rel="noreferrer noopener">Hotels.com</a>, <a href="https://coingate.com/gift-cards/sephora-egift-card" target="_blank" rel="noreferrer noopener">Sephora</a>, <a href="https://coingate.com/gift-cards/starbucks" target="_blank" rel="noreferrer noopener">Starbucks</a>, <a href="https://coingate.com/gift-cards/asos" target="_blank" rel="noreferrer noopener">ASOS</a>, <a href="https://coingate.com/gift-cards/hm" target="_blank" rel="noreferrer noopener">H&amp;M</a>, <a href="https://coingate.com/gift-cards/nike" target="_blank" rel="noreferrer noopener">Nike</a>, and +3,000 more. </p>



<p>On top of it, you can always find discounts of up to 5% and sometimes more, no matter if it’s a holiday season or not.</p>



<h2>How to Buy a Gift Card?</h2>



<p>Here are some tips for shopping for gift cards with Bitcoin and other cryptocurrencies at CoinGate:</p>



<ul><li>Start by browsing the available gift card options on the CoinGate website, starting with Special Deals. You can filter the selection by country, category, brand, value, popularity or search for specific gift cards to find the perfect Christmas gift.</li></ul>



<ul><li>Once you’ve found the right gift card, add it to your basket and proceed to checkout. Then, enter an email address where the gift card code will be sent and click Continue.</li><li>At the end, you’ll be able to choose your payment currency, including Bitcoin, Ethereum, Litecoin, TRON, Dogecoin, Tether (USDT) and more, and complete the purchase.&nbsp;</li></ul>



<p>Here’s a <a href="https://coingate.com/blog/post/how-to-buy-gift-cards-with-crypto" target="_blank" rel="noreferrer noopener">step-by-step guide for buying gift cards</a> with crypto at CoinGate.</p>



<h2>How to Redeem a Gift Card?</h2>



<p>After your purchase is complete, you’ll receive a digital gift card code to your email that you can use to redeem the gift card. You can either send it to the recipient via email or text message or print out the code and give it to them.</p>



<p>To redeem the gift card, you will need to visit the retailer’s website or app and enter the code at checkout. The value of the gift card will be applied to your purchase, and you can use it to buy whatever you want from the selected retailer.</p>



<p>Overall, CoinGate is a great place to find the best gift card deals for Christmas. With its wide selection of gift cards, easy payment options, and convenient redemption process, CoinGate makes it easy to find the perfect gift for everyone on your list. So if you’re looking for last-minute Christmas gift ideas, be sure to check out CoinGate’s stack of the best gift card deals.</p>


In rush? Check out these last minute Christmas gift ideas! 3,000 gift cards to buy with Bitcoin, Litecoin & other cryptocurrencies

Amazing Christmas Gift Ideas: Best Gift Card Deals For Crypto | CoinGate

Amazing Christmas Gift Ideas: Best Gift Card Deals For Crypto

<p>There’s always something to buy with DOGE.</p>


Amazing Christmas Gift Ideas: Best Gift Card Deals For Crypto

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