- More than 90% of US businesses that accept cryptocurrencies report an increase in revenue.
- According to a report titled “Merchants Gearing Up for Cryptocurrencies,” published by Deloitte on June 8, 87% of merchants in the United States think that those who accept cryptocurrencies have a considerable advantage over their competitors in the market.
- Also 64% of business owners surveyed between December 3 and 16, 2021 said that their clientele was very interested in making payments with digital currencies.
The ecosystem surrounding cryptocurrencies is maturing and business growth is being driven by the increased utility and accessibility of these assets as a payment mechanism among merchants as an alternative to traditional money.
More than 90% of US businesses that accept cryptocurrencies report an increase in revenue.
According to a report titled “Merchants Gearing Up for Crypto” published by Deloitte on June 8, 87% of merchants in the United States think that those who accept cryptocurrencies have a considerable advantage over their competitors in the market.
While, 93% of businesses that now accept crypto as a payment method report *positive consumer KPIs such as customer base growth, revenue improvements, and brand impression.
Small and medium-sized businesses (SMBs) can be anticipated to be less hopeful about accepting digital currency payments, but according to the survey, the majority of SMBs asked to expect cryptocurrency payments to benefit their business.
Almost three-quarters of the respondents stated that they want to start accepting crypto or stablecoin payments in the next twenty-four months.
Also 64% of business owners surveyed between December 3 and 16, 2021 said that their clientele was very interested in making payments with digital currencies.
Several factors have led to the enthusiasm of retailers to adopt cryptocurrency payments, they know that the market is changing rapidly and they seek to respond to the needs of their customers.
Finally, the study finds that retailers are aware of the requirements and expectations of their consumers, and see economic and business benefits from accepting cryptocurrency payments.
Nonetheless, there are many issues to be addressed regarding crypto payments, such as infrastructure decisions, building a legal framework, and developing a security framework. These criteria will inevitably determine the rate at which adoption continues to grow.
