Coinremitter, one of the best crypto payment gateways predicts a significant rise in crypto payment adoption by the end of 2024. The growing understanding and acceptance of cryptocurrency as an evolving payment method for both individuals and businesses are playing a key role in the widespread adoption of crypto payments.

Stats With Positive Indications

Some experts have predicted a nearly 17% CAGR of crypto payments between 2024 to 2029. This means crypto payment adoption may rise by 17% each year. And this was visible in the numbers that are publicly available according to team Coinremitter.

According to YCharts, Bitcoin transactions per day on 21st April 2024 were 641668, which is over 80% higher than Bitcoin transactions per day on 21st April 2023. However, team Coinremitter said that this number keeps fluctuating. Sometimes the YTD data may show a drop. But it indicates growth in most cases.

And this growth was visible in their internal stats according to them. They claimed to witness an average of 20% growth in the number of successful transactions compared to the previous year.

What Impact We Can Expect by the End of 2024

However, these are not our predictions as we were having a conversation with team Coinremitter, and we feel that team Coinremitter looked confident with their predictions. In our frank opinion, we feel that we should witness such an impact for the betterment of the crypto community.

- Global Expansion: Governments of very few countries are liberal with cryptocurrencies according to team Coinrmeitter, which may not be a good sign. But they expect to see the change according to recent scenarios. According to some reports, the IMF has recently praised Bitcoin, which indicates some positive signs. IMF’s faith in Bitcoin (or cryptocurrencies) may push governments to introduce some crypto-friendly regulations, which may cause the global expansion of crypto payments.

- More Cryptocurrencies: We know that cryptocurrencies aren’t just about Bitcoin. There are over 9000 cryptocurrencies having their own advantages. Bitcoin’s legacy is unmatched. However, it has a limited maximum supply of 21 million tokens. So with some other cryptocurrencies. Wider adoption of crypto payments may increase the demand for other cryptocurrencies (as replacements or options for existing cryptocurrencies) according to team Coinremitter. They expect to see some new cryptocurrencies being introduced by the end of 2024.

- Adoption of Stablecoins: Team Coinremitter revealed that they constantly receive messages and emails to add more stablecoins to their payment options.

‘Do you support any stablecoin?’ we asked. ‘Yes, we support USDT’, they replied.

Individuals may not be hesitant to adopt the crypto payment method (if they’re considering faster and more affordable transactions), but the volatility is stopping them somehow according to team Coinremitter. A sudden drop in the price of owned assets may be a concern according to us. But this may be a deciding factor for some individuals, which is making the team Coinremitter expect a massive rise in the adoption of stablecoins, especially for making international payments.

This may also increase the demand for crypto payment gateways supporting stablecoins.

- More Business Opportunities: Crypto payments may unlock new revenue streams as we discussed with team Coinremitter in our conversation.

‘What business opportunities are you expecting with crypto payments?’ we asked.

‘Well, this is tough to predict. The first crypto payment was made in 2010, and no one imagined the existence of crypto payment gateways at that time. This means something unexpected may come in the future and cause a revolution, we aren’t sure if this will happen in 2024, but it may begin or it may have begun to happen’, said team Coinremitter.

- More Refinements to the Ecosystem: Team Coinremitter expects to see more crypto payment gateways by 2024. ‘We expect a tough competition for us by the end of this year. We accept that we have flaws (disadvantages) and we’re working on them. Introduction to new payment gateways may drop some hints for the scope of improvements for us, which may help us improve quickly’, they said.

Our Thoughts

The comparison with the previous year’s data seems positive. However, we expect the crypto payment method to be normalized if it’s better for the financial cause. We expect all the changes to come in a positive way and cause the betterment of the crypto community. As far as the impact of crypto payments is concerned, its initial impressions looked promising to us.

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Company Name: Coinremitter
Contact Person: Sam
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Country: United States
Website: http://www.coinremitter.com