Cryptocurrencies are already accepted in about a thousand establishments in Brazil

Although the main use of cryptocurrencies in Brazil is for investments (according to the Central Bank), the use of digital assets as a means of payment has grown in the country in recent months. Data from a recent survey shows that about 25% of Brazilians are willing to use cryptocurrencies such as Bitcoin (BTC) to make payments at commercial establishments. In Brazil, more than 900 companies already accept digital currencies as a form of payment, according to the CoinMap platform. Globally, this number jumps to almost 30 thousand commercial establishments.

As you can see in the map above made available by the CoinMap platform, the Brazilian southeast is home to most companies that accept cryptocurrencies. In addition, it is in this region where the largest number of cryptocurrency ATMs (ATMs) are located.

Companies accept cryptocurrencies in Brazil

If the number of companies that accept cryptocurrencies in Brazil is already relatively expressive, the trend is to increase. As reported by CriptoFácil, more than 30% of small businesses in Brazil plan to accept cryptocurrencies in 2022. The information is from a survey carried out by the payment company Visa, which already has initiatives aimed at the crypto market. According to Visa, the survey results suggest that cryptocurrencies may be starting to become popular as a means of payment. Regarding companies that already accept cryptocurrencies in Brazil, Destinatarie, the first travel agency to accept payments in cryptocurrencies, can be highlighted. Recently, the Brazilian dealership NetCarros – a startup of the DNR Group – has also started to accept payments in crypto. Customers will be able to pay for any vehicle on the platform with a wide range of cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).

Crypto as a means of payment

Likewise, Melnick, a builder and developer from Rio Grande do Sul with public capital on the stock exchange, announced a partnership to start accepting payments in cryptocurrencies. Another developer that has been accepting payments in BTC and ETH since November last year is Even. Both companies have partnered with cryptocurrency exchange Mercado Bitcoin to accept crypto. Additionally, the Wine company also trades its wines in exchange for Bitcoin. Meanwhile, Grupo Viação Garcia-Brasil Sul (GBS) has been accepting digital currencies as payment since 2018. Crypto payments in Brazil can still extend beyond commercial establishments. After all, the city of Rio de Janeiro recently announced that from 2023 onwards, citizens will be able to pay the IPTU with Bitcoin.

Big companies eyeing cryptocurrencies

Globally, the possibility of offering crypto payments has attracted the attention of large companies. Rappi, for example, is testing the payment method in Mexico. Rappi’s initiative is the result of a partnership with cryptocurrency exchange Bitso. Another giant that showed interest in the possibility was Uber. As reported by CriptoFácil, Uber CEO Dara Khosrowshahi recently stated that the transportation company should start accepting Bitcoin payments “at some point”. Read also: NEOS Newsletter: Nike and Adidas advance in digital apparel Read also: University develops device to be able to kiss in the metaverse Read also: Ether scarcer? Token burning hits highs and inflation drops 50%