Crypto Payments Will Drive Crypto Adoption, New Report Reveals

New research shows that over half of Americans believe crypto payments give firms competitive advantages.

57% Want Bitcoin Payment

Mercuryo’s recent survey found 57% believe that bitcoin payments can give their businesses a competitive edge. A majority of respondents indicated that customers have asked for Bitcoin, Ether, or other digital currency.

Customers agreed, with 58% of shoppers wanting cryptocurrencies to be accepted as a form of payment, according to Mercuryo’s research. As a result, 34% (or more) of UK finance companies currently use crypto to make payment.

To compile the report, we surveyed 501 top financial decision makers from the United Kingdom. The sample included more than half of all large companies with over 250 employees. About 40% of respondents are directors or board-level executives. The rest of them are partners or owners.

Recent announcement by Visa that it will be launching a crypto consultancy service for clients to assist them in navigating the cryptocurrency world reflects this demand. Revolut and other industry leaders are considering opening their own cryptocurrency exchanges to expand their offerings. This is a sign of a new era in digital currency acceptance within financial services.

Petr Kozyokov is Mercuryo’s CEO and Co-Founder.

“Our research shows that 75% of all large companies believe that cryptocurrencies will at some point be integrated into all forms of financial services.”

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The Small Business Believes Crypto Payments will Replace Fiat

A series of interviews with The Situations has shown that smaller companies, like ebike sellers, footwear manufacturers and fintech startup founders, believe in cryptocurrency as a corporate asset. They claim that cryptocurrency and bitcoin payments make up a very small percentage of their sales.

Block, Coinbase, Bitpay and Coinbase are just a few of the many companies that will help you make the transition to accepting cryptocurrency payments. However, getting your paycheck isn’t as simple as it is with cryptocurrency — a fast-growing trend that will attract top personnel in 2021.

“Internal construction of these complex crypto infrastructures often takes years,” Kozyokov noted. “There are still barriers to implementation that are slowing the pace of adoption,” as with new technology.

Small business owners aren’t afraid to admit that they believe digital assets will play a role in their operations in the coming years. While only a small percentage accept Bitcoin, most believe other assets will soon be accepted. A majority of cryptocurrency exchanges currently support crypto payments.

The research found that 33 percent believed that a lack in clear market regulations was a barrier to entry. 27 percent also said they were concerned by scams and 28 percent about volatility of exchange rates.

See also:Tesla Recommends to Start Bitcoin Payments When Mining Reaches 57% Renewable Energy| Calls For Tesla To Resume Bitcoin Payments As Mining Reaches 57% Renewable Energy

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