The Crypto Divide – What Do Small Businesses Really Want?

[ad_1]

OMAHA, Neb., Oct.6, 2021 / PRNewswire / – The use of cryptocurrency is increasing around the world, and recent consumer surveys show that most American adults are now at least somewhat familiar with the term. Despite the growing enthusiasm of consumers, aside from the exploration of the crypto industry by the largest corporate-level traders, little information is available showing the perspective of small businesses and their sentiment regarding the acceptance of cryptocurrency.

To examine their attitudes towards cryptocurrency, the Strawhecker Group (TSG) conducted a survey of nearly 600 small business owners in the United States. more than one in ten questioned.

The full results, an overview of trends in crypto acceptance by traders, and profiles of popular crypto processors are available in the company’s new electronic report, The Crypto Divide.

However, TSG has found that acceptance is gaining ground; 65% of small businesses that reported using cryptocurrency have just started accepting the payment method within the past two years. Related results indicate a level of ‘stickiness’ within the crypto space, as 92% of traders who accept cryptocurrencies also reported owning cryptocurrencies as a store of value, while only 17% of traders who accept cryptocurrency do not accept cryptocurrencies themselves own cryptocurrencies.

A thematic analysis of those who currently do not accept cryptocurrency illustrated three key themes: active avoidance, low motivation to adopt, and low awareness. Only 28% of traders said they intend to accept cryptocurrency in the future, indicating that acceptance right now is not a widespread priority.

“We have found that traders who do not accept crypto have a variety of nuanced reasons,” said Jared Drieling, senior director of market intelligence and insight at TSG. “Some are completely closed to the payment method and see it as something only used by criminals. Others had little knowledge of the payment method in general, but might be open to it if their customers started asking questions about it. topic.”

Highlights of this comprehensive 79-page electronic report include:

The Basics of Cryptocurrency The Status of Crypto Acceptance by Traders Opportunity and Controversy Key Players in the Crypto Space Investigation into Crypto Acceptance The Future of Crypto Merchant Acceptance

Download a free infographic covering several findings from the full report.

Companies mentioned in this report include: AlphaBTC, Bank of America, BitPay, BTCPay, Chase, Coinbase, Coingate, CoinPayments, Elavon, FedEx, FIS, Fiserv, Global Payments, GoCoin LibertyX, Mastercard, MoneyGram, NCR, OnlyFans, PayU, Remitly, Ripple Labs, Shopify, Square, Stripe, UATP, Visa, Walmart, Wells Fargo, and Western Union.

Subscribers to TSG’s eReports subscription service have access to this report along with dozens of other in-depth dives, industry directories, country and company profiles, and educational primers.

For more information, please contact us online or call 1-402-964-2617. For media inquiries, please email [email protected].

About TSG The Strawhecker Group (TSG) is the leading payment acceptance analysis and advisory firm. TSG serves the entire payments ecosystem and has experience working on large-scale projects for the world’s largest payments players. The company has worked with all of the card networks, nine of the top ten merchant acquirers in the United States, as well as leading private equity firms and investment banks. Please visit www.TheStrawGroup.com.

Contact: Andrew Nuss[email protected]

SOURCE The Strawhecker group

Related links

thestrawgroup.com

[ad_2]