Bitcoin Cash Represents 93% of November's Crypto Spending in Australia

News.Bitcoin.com recently reported on web portal Bitcoinbch.com’s in-depth report, which detailed BCH outshining BTC retail spending in Australia by a wide margin during the month of September. The next month, BCH captured 90% of October’s crypto spending in the country. Now the website has published its November report that discloses all the crypto-based expenditures at retail businesses and once again, BCH is “dominating the Australian retail scene.”

Also Read: Bitcoin Cash Captured 90% of October’s Crypto Spending in Australia

October’s Crypto Retail Expenditure in Australia

Bitcoinbch.com’s Hayden Otto has published the third monthly Australian Cryptocurrency Expenditure at Retail Businesses report and bitcoin cash (BCH) usage continues to shine in the region. Otto’s latest report says that October’s numbers derive from “large retail payments” that come from businesses and professionals like “lawyers, accountants, engineers, electricians, and builders.” In order to source the data for October’s report, Bitcoinbch.com used statistics from the underwriting firms Travelbybit (TBB) and Hula (Hockings Underwriting Logistics App).

Bitcoin Cash Represents 93% of November's Crypto Spending in Australia

“The Hula system has expanded and provided valuable BCH visibility on the largely hidden retail peer-to-peer economy in Australia. Surprisingly, less than 20% of the Bitcoin BCH merchants are visible via the Hula data, lending confidence to these Bitcoin Cash retail numbers,” Otto writes. “On the other hand, our source of BTC retail data (and that of other cryptos) is more extensive due to their localisation to a single point-of-sale platform in Australia, the Travelbybit point-of-sale (PoS).”

Bitcoin Cash Represents 93% of November's Crypto Spending in Australia

A few of the highlights from the report note that BCH recorded a “267% month-on-month growth” and bitcoin cash payments accounted for approximately “$51,996.73 of the total $55,725.05 expended during the month.” Otto stresses that while BCH sales are swelling, BTC recorded less than a transaction per day and the Lightning Network (LN) statistics were even worse. Bitcoinbch.com’s expenditure report also emphasized that the “professional sector accounted for a small number of large payments” in October compared to the last two months of data.

Bitcoin Cash Represents 93% of November's Crypto Spending in Australia

Bitcoin Cash Captured 93% of November’s Crypto Spending in Australia

As far as platforms that allow merchants to accept bitcoin cash payments in-store, Otto’s report detailed that Bitcoin.com’s Cash Register PoS shined. The Australian crypto expenditure research underlined:

The Bitcoin Cash platform of choice in Australia is the Bitcoin.com Cash Register App, a simple, effective and very fast point-of-sale system that continues to gain market share from its rivals, recording 93% of expenditure in November up from 90% in the previous month.

Bitcoin Cash Represents 93% of November's Crypto Spending in Australia

The research goes on to say that Australia was the first country to see a large populace of BCH-only acceptance. Because of this, Otto says not only does the region have a high concentration of BCH accepting retailers, the vast majority of these merchants also “walk-the-talk with only a Bitcoin Cash crypto payment option.” Moreover, the report details that in Australia there’s been some BCH development and several of these projects, not immediately visible, are attributing to the expenditure growth. The report concludes that as BCH saw 267% growth and represented 93% of all crypto retail expenditure, Australian fiat turnover saw a measly 0.2% growth last month.

What do you think about the Australian Cryptocurrency Expenditure at Retail Businesses report for November 2019? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Bitcoin.com’s Cash Register, the third monthly Australian Cryptocurrency Expenditure at Retail Businesses report, Pixabay, and Bitcoinbch.com.


Enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

Tags in this story
Australia, Australian Crypto Spending, BCH, bitcoin cash, Bitcoin.com Register App, Bitcoin.com’s Cash Register, Bitcoinbch.com, Hayden Otto, Hockings Underwriting, Hula, large retail payments, P2P Cryptocurrency, Point of Sale, PoS, report, Spending Report, third monthly, Travelbybit
Bitcoin Cash Represents 93% of November’s Crypto Spending in Australia 1
Jamie Redman

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

Please enable JavaScript to view the

comments powered by Disqus.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022
Crypto Crime
Crypto Crime Surges To Record Highs As Thieves Follow Market Buzz – Chainalysis 2022 Report
February 24, 2022
Bots Circumvent 2FA Login At Coinbase And Other Crypto Exchanges In 2022
Bots Have Circumvented 2FA Logins At Coinbase And Other Crypto Exchanges In 2022
February 17, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin29,210 0.73 % 2.21 % 3.86 %
Ethereum1,803.8 0.75 % 0.99 % 10.87 %
Tether1.002 0.25 % 0.67 % 0.07 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB306.24 0.54 % 0.77 % 0.45 %
XRP0.3954 0.76 % 2.83 % 6.22 %
Binance USD1.003 0.00 % 0.10 % 0.03 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana42.73 1.24 % 1.31 % 18.34 %
Polkadot9.670 0.74 % 7.10 % 3.96 %

bitcoin
Bitcoin (BTC) $ 29,276.00
ethereum
Ethereum (ETH) $ 1,817.18
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 308.55
xrp
XRP (XRP) $ 0.397197
binance-usd
Binance USD (BUSD) $ 1.01
cardano
Cardano (ADA) $ 0.473575
solana
Solana (SOL) $ 42.95
polkadot
Polkadot (DOT) $ 9.74