According to a report conducted by Juniper Research, while some retailers are enabling Bitcoin payment, activity levels both online and offline are extremely low.
Average daily transaction volumes have increased about 50% since March 2014, but much of the growth seemingly stems from higher transaction levels by established users rather than any substantial uplift in consumer adoption.
The difficulty of communicating the concept of cryptocurrency payments to end users, along with Bitcoin’s history of being linked with criminals for illegal purchases and money laundering, were among the factors inhibiting growth.
Examples of the bad press related to the currency include the apparent theft of USD 387 million in client funds from a Hong Kong exchange that traded the virtual currency, and the crash of Bitcoin payment network Mt. Gox in 2014.
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