Cryptocurrencies are making waves in the mountain bike industry.
In 2016, the crypto-currency was the second-most popular cryptocurrency by volume after bitcoin.
The crypto-currencies have exploded in popularity over the past year, and with more and more companies looking to capitalize on the growing demand, there are now more than 1,000 companies in the U.S. that sell or offer the crypto currencies.
CryptocURRENCY.com, an online marketplace for crypto-based products, estimates that in 2016, nearly 1.2 million mountain bike bikes were sold globally, and the vast majority of those bikes are owned by the mountain bikers themselves.
In addition to mountain biker ownership, many of the mountain bikes sold by mountain bike manufacturers are also equipped with digital-to-metric converters, meaning that the bike is digitally transferred from one bike to another in a way that makes it easier for a buyer to determine the correct model.
According to a 2016 survey conducted by Cycle Data, just 9 percent of mountain bike buyers who bought their first bike in the past two years used the conversion feature.
In fact, only 16 percent of the bikes that Cycle Data surveyed were bought using a conversion feature, and a majority of them were not purchased with the intention of selling them to a buyer.
But, in an industry where there are many hurdles to entry, the rise of the crypto currency is only helping to drive the market forward.
“It’s only the beginning of the story, but I’m excited that there’s a growing market for mountain bikes that don’t have to be purchased with your credit card,” said Brandon Schuster, co-founder of Mountain Bikes USA.
“A lot of companies are now recognizing that this is a good market for them to be in.
This is really the beginning.”
Mountain bikers who are not in the business of selling bikes but who want to sell digital goods on their website, such as a bike registry, have been using the crypto for years, Schuster said.
In recent years, Mountain Bikers USA has been working with several companies in order to sell the bikes in the marketplace.
“The bikes that are sold on our website are very unique in that they are designed to be as simple to use as possible,” Schuster explained.
“They’re very affordable and they’re very durable.”
Many companies have already embraced the crypto and are now adding features to their website and to their product offerings.
In 2018, BikeLodge.com began selling bike registration on the web and in stores.
This program is an example of a company embracing the cryptocurrency and embracing the mountain biking community, which has grown to include many of its riders.
“I’m very excited to be part of it,” Schusters said.
“Being a part of a growing community that has built its own currency for a growing currency is an exciting opportunity.”
Bicycle sales have been growing for several years, and it appears that many companies are beginning to see the potential in the crypto as an opportunity to reach a larger audience.
“When I saw that Mountain Biker was offering a website that was very simple to set up and manage, I was very excited,” Schutz said.
When Mountain Bike announced the sale of their first-ever bike in 2017, they had just one user sign up and the site only had a few thousand users, and Schuster was one of those users.
He quickly found that the site was getting overwhelmed by orders.
“After about a year of seeing the site fill up with bikes and orders and orders that were coming in every day, we had to shut down the site,” Schutts said.
Mountain Biking USA is continuing to grow its user base, which now has over 20,000 members, Schutz noted.
“In the last couple of years, we’ve seen a huge amount of growth in membership, and we’re starting to see growth from a new market to the new market,” Schute said.
The growth of the cryptocurrency has also impacted the price of mountain bikes, which have been surging in recent years.
The price of a single mountain bike went from about $150 in 2016 to over $600 in 2018, according to BikeLodges.com.
“This year’s mountain bike prices are way higher than the past couple of cycles,” Schuss said.
For some bikers, the value of the digital currency is more than just riding a bike, but also for those that work in the bicycle industry.
“If I was going to have a good bike, it would be something that I would want to have,” said Schuster.
“That being said, if I could get that bike for free, that would be really cool, because I could have it for a really long time.”
A key benefit of buying digital products through a marketplace like Cryptocurb, which Schuster co-founded, is that it’s also a great way to diversify a company.
“We are a bike manufacturer that sells products in