Bitcoin is Switching From Investment Commodity to Everyday Use [Infographic]

Our friends at Coupofy recently created this interesting infographic (see it below) to show the growth and development of Bitcoin, from mainly being seen as an investment commodity to being used in everyday life.

“Bitcoin is fast at switching from ‘an investment commodity to everyday use’ and we believe we collected enough data points to prove it,” says the company’s blog post. “Next, we at Coupofy are working on what we are hoping to become the largest database of Bitcoin accepting merchants offering discounts online.”

The infographic is really large, but has a lot of interesting facts, like the top 10 biggest merchants currently accepting bitcoin,  top 5 countries where bitcoin is being used, top 10 most often bought  items with bitcoin and etc.

Coupofy is one the world’s largest networks of branded stores with an instant flow of the new deals. The company works with 3000 online stores and is set to build the largest database of Bitcoin accepting merchants offering discounts.

Coupofy was established by Potential which is a rapidly growing incubator for digital companies in the UK and Asia. Since 2012 Potential launched several companies and invested in over 30 startups. Potential is currently managing the largest AngelList Syndicate in Europe and one of the biggest globally with over 150 investors.

It’s not the first time we see the infographic with similar content. In April this year the Bitpay itself posted an infographic named “A View of the Bitcoin Space” to show that Bitcoin has significantly shifted towards being used as an actual currency, meaning being used to pay for goods and services as the company’s data indicates that the total number of Bitcoin transactions more than doubled last year.

“The investors are usually the first ones to hop on new technology, but as bitcoin circulates more, and as the amount of transactions increases, we should see bitcoin being used by more and more average consumers,” says Wouter Vonk, BitPay’s European marketing manager. “We see bitcoin being used in emerging markets as a supplement to the current banking and monetary systems. It also breaks down the barriers to financial tools that many people in emerging countries are facing.”

CTO Egor Pavlovich

Egor Pavlovich is CTO of Coinspeaker and a major bitcoin enthusiast. Egor is a specialist in radiophysics and is a keen follower of new and disruptive technologies – from the first moment he discovered bitcoin he knew immediately it was something special. After beginning a bitcoin mining operation he combined forces with Siarhei in 2014 to build professional provider of news for the cryptocurrency/blockchain community. His roles at the site include monitoring analytics, handling the site’s public relations campaigns, overseeing the editorial content in an executive capacity as well as dealing with advertisers and sponsors. You can contact Egor via [email protected]