April 22, 2018
by Sharon Moran
CryptoMaps officially launched their iOS app recently. CryptoMaps connects cryptocurrency users with merchants who accept cryptocurrency for their goods and services. The app allows users to search by location and also gives users the capability of searching by virtual currency. The app includes the following currencies: Bitcoin, Dash, Ethereum, Litecoin, Stellar Lumen, Monero, Ripple, Bitcoin Cash, Bitcoin Gold, Cardano, NEM.
The app offers users the option of submitting a listing for any crypto-friendly merchants they might know. If one thing was evident after downloading the app and navigating to certain U.S. cities, it’s that mass adoption of cryptocurrency has definitely not happened yet.
My small East Coast urban-type region had no entries. San Francisco had multiple restaurants and businesses listed. New York City only had three ATMs listed, which isn’t all that surprising considering New York State is among the least crypto-friendly states nationwide. I think the sparse number of listings is partly due to lack of adoption of digital currency for everyday use and partly due to lack of discovery. This will change as users submit listings for businesses that haven’t been added yet.
Their press release highlighted the growth in cryptocurrency transactions over a 4-year period. “As evidenced by the 2,000 percent growth of crypto-transactions between 2013 through 2017, virtual currency has already left an indelible mark on society. Consumers utilized virtual currency on merchant services for a monthly average of $190.2 million in 2017, in contrast to only $9.8 million a month in 2013, proving the ever-increasing consumer desire to make virtual currency part of day-to-day spending.”