From 92% in 2020, Bitcoin’s use by merchants using BitPay dropped to about 65% in 2021. From 92% in 2020, Bitcoin’s use by merchants using BitPay dropped to about 65% in 2021.BitPay Inc., a major crypto payment processor, has seen a shifting trend in the type of digital asset used for purchases over the past year, according to a Bloomberg report.Business transactions involving Bitcoin (BTC) for payments fell to 65% in 2021 from 92% in 2020, according to BitPay’s payment system. During this period, Ether (ETH) represented 15% of all transactions, while other currencies such as Litecoin (LTC) and Dash represented larger portions.During the crypto price depreciation in November, businesses started using stablecoins for more frequent cross-border payments. Consumers have also started to use stable coins because they provide a constant value, which means less risk in the notoriously volatile cryptocurrency market, according to the report.Alternative coins are increasingly used for payments
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