Data from major crypto payment gateway BitPay suggests that major altcoins are slowly gaining ground on bitcoin (BTC) in the payments sector.
In a release shared with Our, the firm wrote,
“For ETH, the biggest purchases are with gift cards, computer software/gaming, electronics and precious metals. Likewise, XRP’s biggest purchase was with gift cards and then followed by electronics, FX exchange, precious metal and online gaming.”
Indeed, prepaid and gift cards represented over a third of all the purchases made on the platform in November in all tokens.
BitPay also claimed that it believes “the increase in the value of bitcoin, the holiday season and the coronavirus pandemic have contributed to these results,” adding that some are “loading their BitPay Debit Card for spending at retailers that have yet to accept crypto.”
“This increase,” the firm said, “is for day-to-day expenses for food, travel, electronics, and clothing.”
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