The mainstream adoption of crypto and its use in online transactions has seen explosive growth over the past few years.
As the regulatory approach to crypto becomes more streamlined and more and more new users enter the crypto market and start using the various cryptocurrencies in daily transactions, the growth rate of companies that allow for crypto payments has also followed suit.
E-commerce and iGaming have been at the forefront of this growth and stablecoins, such as USDT, are especially popular among providers and clients.
For this reason, the number of sites where you can bet with USDT have also seen steady growth, with a majority of major online sportsbooks and casinos now accepting USDT, Bitcoin, and Ethereum, among other coins.
There are several key reasons for the growing popularity of USDT in online transactions, which we will discuss in more detail in the coming sections.
As we have already mentioned, there are a few key advantages of using USDT as a payment method when shopping online or making bets with sportsbooks and playing casino games. These advantages include:
These factors make USDT a very attractive option for online transactions, whether for online shopping, gambling, or money transfers between wallets.
The global cryptocurrency market has marked a turnaround over the past few years, with Bitcoin driving the bulk of the growth.
However, USDT has not lagged too far behind – reaffirming its position as the top stablecoin, with an average daily trading volume of over $60 billion for the USDT/USD pair.
E-commerce is the primary driver of USDT adoption in mainstream businesses, which itself is a fast-growing industry poised to reach over $21 trillion in market size by 2030.
What sets USDT apart from other cryptocurrencies is its role in the global crypto market, not only as a method of payment, but also as an exchange tool.
As the most popular stablecoin, USDT directly benefits from the growth of trading volumes on the cryptocurrency market, which in turn gives more and more businesses the necessary incentives to adopt USDT as a payment method.
This cycle directly interlinks the trading and transaction channels used by USDT holders, with both growing in tandem at a comparable pace.
To help accelerate the rate of USDT adoption among e-commerce companies, the parent company Tether has been making strategic partnerships with payment processors, such as PayPal.
This allows Tether to increase the reach of USDT by making transactions available through an increasing number of digital payment providers.
An increased rate of adoption benefits Tether and USDT in a few key business areas:
Therefore, the increased adoption of USDT gives customers access to transactions done using a secure and transparent payment channel, with major companies like PayPal providing the infrastructure to facilitate the transactions.
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