In Q3 2020, global cryptocurrency user base (identity-verified) peaked at 101 million, it was two times higher than in 2018, according to Statista, which merchants should not disregard the potential growth of the cryptoassets users.
Under the pandemic, people have spent more time at home and consume media streaming service, like Netflix. According to BBC, the number of Netflix’s users has grown over 30% compared to 2019. Besides, Pornhub, a subscription-based adult video platform that surpass Netflix on the views, added four cryptocurrency payments in January, including stablecoin USDC etc. According to the latest statistic conducted by SimilarWeb.com, Pornhub ranks 13th based on its high traffic, while Netflix ranks 17th. Despite the termination of payment services from Visa and Mastercard, the statistic clearly shows that the limited payment option like cryptocurrency in some countries does not reduce the profit of Pornhub.
Moreover, Tim Draper, the founder of Draper Associates, believed that the innovative characteristic of Reed Hastings could lead Netflix to become ”the next big one to fall.” Therefore, to pay off among all the subscription-based streaming platforms, it is believed that Netflix may take crypto payment into account, in order to expand the users base and diversify the income sources.
Since 2020, cryptocurrency is stepping in our lives. Paypal opens the crypto trading services, Visa works with Wirex and BlockFi to support crypto payment in the cooperated merchants to earn cryptocurrency rebate, helping the crypto newbies to collect cryptocurrency though daily expenditure, for example, Wirex users can withdraw the Bitcoin rebate to Tidebit for trading. Recently, the largest e-commerce platform Rakuten allows their customers to deposit cryptocurrency into their Rakuten Wallet and spend in the supported merchants, like convenience stores 7-Eleven and Mcdonald etc, which has enhanced the convenience of Japanese consumers who own cryptocurrencies.