PUBLISHER: The Business Research Company | PRODUCT CODE: 1808715
PUBLISHER: The Business Research Company | PRODUCT CODE: 1808715
Bitcoin payments involve using Bitcoin, a decentralized digital currency, as a means of exchange to pay for goods and services or to transfer funds. These payments are utilized for a range of purposes, including online shopping, remittances, investments, and peer-to-peer value transfers.
The key components of Bitcoin payments include hardware, software, and services. Bitcoin payment hardware refers to physical devices designed to facilitate Bitcoin transactions, enhancing the security and convenience of making and receiving Bitcoin payments. Various keys, such as private keys and public keys, play a crucial role in these transactions, which are applied in areas such as e-commerce, retail, and other sectors.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the ensuing trade tensions in spring 2025 are having a considerable impact on the financial sector, particularly in the areas of investment strategies and risk management. The increased tariffs have intensified market volatility, leading institutional investors to adopt more cautious approaches and driving greater demand for hedging solutions. Banks and asset managers are encountering higher costs in cross-border transactions as disrupted global supply chains and declining corporate earnings weigh on equity market performance. At the same time, insurance providers are facing elevated claims risks linked to supply chain interruptions and trade-related business losses. Furthermore, reduced consumer spending and weaker export demand are limiting credit growth and dampening investment appetite. In response to these challenges, the sector must focus on diversification, accelerate digital transformation, and strengthen scenario planning to manage the heightened economic uncertainty and safeguard profitability.
The bitcoin payments market research report is one of a series of new reports from The Business Research Company that provides bitcoin payments market statistics, including bitcoin payments industry global market size, regional shares, competitors with a bitcoin payments market share, detailed bitcoin payments market segments, market trends, and opportunities, and any further data you may need to thrive in the bitcoin payments industry. This bitcoin payments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bitcoin payments market size has grown rapidly in recent years. It will grow from $1071.42 billion in 2024 to $1234.14 billion in 2025 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to rise in the need for transparency in the payment system, increasing acceptance by vendors, merchants, and consumers for digital payments, increasing adoption of digital ledger, the rise of the lightning network, and increasing number of crypto automated teller machines (ATMs) and mobile wallets.
The bitcoin payments market size is expected to see rapid growth in the next few years. It will grow to $2184.71 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to rise in smartphone penetration, growing demand for low-cost and secure payments, growing awareness of bitcoin and its use cases, increasing number of initial coin offerings (ICOs), and increasing number of bitcoin payment processors. Major trends in the forecast period include advances in hardware and software wallets, innovation in payment technologies, technology advancements, innovative blockchain distributed technology protocols, and innovative payment processors.
The forecast of 15.3% growth over the next five years reflects a slight reduction of 0.2% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through higher transaction processing costs, as crypto payment gateways and wallet security solutions, mainly developed in Estonia and Portugal, face increased operational expenses due to tariff-related software licensing hikes. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The growing popularity of crypto ATMs is expected to drive the expansion of Bitcoin payments in the future. A crypto ATM, also known as a Bitcoin ATM, is an electronic kiosk that allows users to buy or sell cryptocurrencies using cash or debit/credit cards. The rising number of crypto ATMs can be attributed to factors such as increasing interest and investment in cryptocurrencies, the convenience and accessibility they offer, and the expanding range of supported cryptocurrencies. Bitcoin payments, made possible by crypto ATMs and mobile wallets, provide unmatched convenience compared to traditional financial systems, enabling users to quickly buy, sell, or transfer Bitcoin using cash or smartphones without the need for lengthy registration or bank accounts. For example, in September 2024, a report by Security.org, a US-based non-governmental organization, revealed that cryptocurrency ownership among American adults has risen to 40%, up from 30% in 2023, representing approximately 93 million individuals in the crypto market. As a result, the growing adoption of crypto ATMs and mobile wallets is fueling the growth of the Bitcoin payments market.
Key players in the Bitcoin payments market are concentrating on developing innovative solutions, such as TokenPay, to enhance transaction efficiency and security while offering more integrated payment options within the cryptocurrency ecosystem. TokenPay (TPAY) is a decentralized cryptocurrency designed to improve privacy and security in digital transactions through advanced cryptographic protocols. For instance, in July 2024, OrdinalsBot, a US-based private enterprise specializing in Bitcoin, introduced TokenPay to broaden payment options for on-chain activities. This initiative enables users to make payments for on-chain activities using a range of cryptocurrencies, including Bitcoin. The goal is to attract a broader audience and facilitate user participation in on-chain activities related to Ordinals, thereby enhancing the flexibility and convenience of payment options for OrdinalsBot's users and supporting the adoption and development of the Ordinals protocol on the Bitcoin blockchain.
In October 2024, Stripe Inc., an Ireland-based financial services company that offers software and infrastructure to help businesses accept payments and manage their online operations, acquired Bridge for $1.1 billion. Through this acquisition, Stripe Inc. seeks to strengthen its stablecoin infrastructure, simplify cross-border payments, and accelerate the global adoption of digital currencies. Bridge, a US-based fintech company, is a stablecoin-based payment platform that provides software solutions enabling businesses to accept payments in stablecoins.
Major companies operating in the bitcoin payments market are Verifone Inc., Microsoft Corporation, Paypal Holdings Inc., Coinbase Global Inc., Binance Holdings Ltd., Etsy Inc., Paxful Inc., MoonPay USA LLC, Bitpay Inc., Coinspaid, CoinsBank, Utrust, The Pirate Bay, Genie Technologies Pte Ltd, Coingate, Spectrocoin Finance Ltd., OpenNode Inc., GoCoin LLC, Planet Express, Coinpayments Inc.
North America was the largest region in the bitcoin payments market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bitcoin payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bitcoin payments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bitcoin payments market consists of sales of cross-border payments, invoice payments, and automated payments. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bitcoin Payments Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bitcoin payments market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bitcoin payments ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The bitcoin payments market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.