Platform Addresses Increasing Demand from Consumers Looking to Spend Cryptocurrency in Their Local Areas
Helping curb uncertainty in the cryptocurrency space, CryptoMaps, a platform that maps out where virtual currency is accepted, today announced its official launch. CryptoMaps provides an easy-to-use interactive map of bars, restaurants, ATMs, event venues and brick-and-mortar stores that accept virtual currency. For business owners, CryptoMaps offers exposure to cryptocurrency owners who are eager to buy, encouraging transactions and amplifying revenues.
Shedding light on a major void in the cryptocurrency market, a recent survey commissioned by CryptoMaps found that nearly 60 percent of cryptocurrency owners don’t know where they can spend their virtual currency, but more than half would like to.
“As someone who owns a variety of cryptocurrencies, I too, have held on to my investment rather than spending it due to a number of factors,” said Craig Cole, chief executive officer and founder of CryptoMaps. “Understandably, many accumulate digital currency with hope that values continue to rise, however, our survey showed a majority of cryptocurrency owners are eager to spend, but lack knowledge in regard to establishments that accept Bitcoin, Ethereum, Litecoin, etc. The goal with CryptoMaps is to bridge this gap, increasing virtual transactions by connecting consumers with merchants who accept cryptocurrency.”
Additional findings from the survey show that:
- Seven out of ten cryptocurrency owners have never purchased anything with their virtual currency.
- However, over half of cryptocurrency owners would like to use cryptocurrency for a variety of purchases, from dinner and drinks, to sports tickets to buying a home.
- More than 65 percent of cryptocurrency owners would like to see more merchants in their area accept the virtual currency.
- Over half of cryptocurrency owners would like to pay their rent or mortgage with cryptocurrency.
“Our survey results found that, contrary to popular belief, people aren’t holding on to cryptocurrencies solely for a big payday down the road,” said Cole. “The majority of virtual currency owners would like to spend their cryptocurrency, but until now, they’ve not been equipped with the necessary information to make that a part of their everyday spending patterns.”
For more information on CryptoMaps, please visit http://cryptomaps.info.
Headquartered in San Francisco with offices in Los Angeles, CryptoMaps’ mission is to facilitate commerce opportunities between consumers and merchants via its proprietary interactive map, enabling virtual currency owners to easily discover local cryptocurrency-friendly businesses. For business owners, CryptoMaps can help encourage transactions and increase profits through exposure to a highly-vetted built in user base with the intent to buy.