More than 950 merchants around the world accept confidential cryptocurrencies to pay for goods and services, despite growing interest in XMR from regulators.
According to updated data from Cryptwerk – an online directory of companies, websites, stores and services that support payments for goods and services in cryptoassets – the adoption of XMR for payments is growing. According to CoinMarketCap, Monero is one of the most famous and popular cryptocurrencies, with a market cap close to $ 7 billion.
The Cryptwerk XMR directory is accepted by over 950 merchants. By comparison, in July 2018, only 41 merchants on Cryptwerk accepted XMR. In May alone, the number of merchants accepting Monero increased by 31 companies. Most of the firms are located in the United States – about 25% of all sellers on the platform. Russia was next with just over 10% of sellers.
When paying in XMR, there are 208 discounts and special offers. Cryptwerk also mentions 28 payment gateways that allow merchants to accept XMR. Monero ranked eighth most popular among sellers among the twenty-five coins on the platform.
The growing interest in the crypto asset can also be traced through Monero’s own data when looking at the numbers from April 2020 to April 2021. During this period, the number of XMR transactions has grown from approximately 10,000 to 23,000 transactions per day. Over the same period, the Monero blockchain size has grown 180% faster than last year, and the average transaction size has decreased by 13.76%.
Recall that in September last year, the US Internal Revenue Service (IRS) announced that it would pay $ 625,000 to developers who manage to create tools to track Monero cryptocurrency and other anonymous digital assets. After that, the Monero developers urged the IRS to spend resources not on fighting XMR privacy, but on studying the potential of this cryptocurrency.
