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Payments on ShopinBit: BTC and BCH in the lead
Payments on ShopinBit: BTC and BCH in the lead
Bitcoin

Payments on ShopinBit: BTC and BCH in the lead

By Marco Cavicchioli - 8 May 2020

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ShopinBit has published some data about cryptocurrency payments on its website

ShopinBit is a German e-commerce that allows purchases of various types of products (electronic, food, cleaning and pet products) with cryptocurrency payments. 

It even sells freshly baked bread, sandwiches, snacks, biscuits and cakes that are delivered at home, all of which can be purchased by paying in BTC, Dash, BCH, LTC, XMR and BSV. It also supports payments via Lightning Network

They recently published on their official Twitter profile a short overview of the most used cryptocurrencies for making payments on their platform. 

ShopinBit and bitcoin payments 

In the lead was bitcoin (BTC), with almost 40% of transactions. Which means a little less than half of all payments on the platform are made in bitcoin

In second place there is Dash, a cryptocurrency used to make payments with a high level of privacy. The percentage of payments made in Dash is 21%, more than 1 in 5. 

Bitcoin Cash (BCH) is ranked third, but very close to Dash with about 19% of transactions. The other cryptocurrencies are very far apart, with Monero at 8%, BSV at 6%, and LTC at only 2%, much less than BSV. 

The percentage of transactions made via Lightning Network is still very low, at only 4%. 

The website also published another ranking, that of the percentage of total transaction volumes. This percentage does not take into account the number of payments, but only the sum of their amounts. 

In this other ranking, BCH dominates with almost 40% of volumes. In other words, in this second ranking it takes Bitcoin’s place from the first ranking, while BTC, with 29%, occupies the second position in this secondary ranking. 

Dash follows with 27%, while the other cryptocurrencies are very detached. 

The third ranking reports the cryptocurrencies by average transaction volume, with BCH dominating with 250€. 

In this third ranking BTC is very far apart, only in fourth position with 51€. In second position there is Dash with 145€, and in third position Monero with 52€. 

The other currencies are very far apart, although curiously the average amount of the transaction with Lightning Network is 23€, despite it being a system designed primarily to handle transactions of very small amounts, the so-called micro-transactions. 

It is, therefore, possible to say that BTC and BCH are the two preferred payment methods on ShopinBit, although the first is more used for transactions of a lower amount, while the second is less used, but for transactions of a higher amount. 

In third place, there is Dash, while other cryptocurrencies such as Monero and Litecoin play a marginal role on this platform. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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