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Crypto Payments Might Be Mainstream by 2024, as per IMF Poll

According to an ongoing poll by the IMF, more people believe that cryptocurrencies and digital assets will be the most well-liked payment means for lunch by 2024.

Interestingly, more than half of the participants say they would use cryptocurrencies and digital assets to pay for lunch in 5 years’ time, at the time of reporting. Of the almost twenty-six thousand votes cast, fifty-six percent chose crypto, while another twenty-nine percent selected mobile phone payment.

Possibly, some of those twenty-nine percent could pivot to the side of virtual currencies, with the continued integration of crypto payments onto mobile platforms. In the meantime, cash and bank card payments so far have a collective total of fifteen percent on the poll.

Nonetheless, current developments in the digital currency payment arena indicate that the options provided by the IMF aren’t essentially mutually exclusive.

Furthermore, Coinbase on April 10, 2019, declared the initiation of their virtual currency Visa card. It is to be noted that the aforementioned card allows UK customers to spend Litecoin, Bitcoin, Ethereum, and other digital currencies right away at every Visa-accepting merchant.

A portion of the company’s blog post declaring the launch mentions that Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform. It means that the customers can pay for a meal with bitcoin, or use ethereum to fund their train ticket home.

As per the previous report by crypto media outlet Bitcoinist, a Kaspersky Labs research revealed that thirteen percent of people across twenty-two countries have used BTC to make purchases.

As per Coinmap, there are more than fourteen thousand six hundred establishments that accept BTC across the world. Notably, this figure takes into account restaurants and cafes.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin5,587.32 0.17 % 4.05 % 8.24 %
Ethereum173.22 0.48 % 0.56 % 4.41 %
XRP0.323 0.15 % 0.29 % 0.23 %
Litecoin77.68 0.04 % 0.82 % 3.58 %
Bitcoin Cash297.60 0.39 % 1.64 % 5.89 %