US merchants accepting crypto payments have more customers and record more profits, study reveals

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US merchants accepting crypto payments have more customers and record more profits, study reveals By Angel Di Matteo @shadowargel

The report of Deloitte reflects a good perception among those who accept crypto payments in the US, as well as a growing interest from cryptocurrencies. SMEs in joining this trend seen among traders.

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  • Businesses that accept crypto payments in the US see more customers and record more profits.
  • They point out that there are demands for crypto payments among customers.
  • Cryptocurrencies are expected to be used more for payments in the coming years.

A study recently published by the research agency Deloitte reveals that more than 90% of merchants that accept cryptocurrencies as a means of payment in the US have seen an increase in the volume of people paying with said assets, as well as an increase in derived profit margins.

The study carried out by Deloitte published yesterday, entitled “Merchants Getting Ready for Crypto”was held between December 3 and 16 last year, and was attended by some 2,000 participants belonging to different brands and sectors that offer services in the US market and accept payments with cryptocurrencies.

Merchants see good performance for cryptocurrency payments

Among the most notable data presented in the study is the fact that 93% of the participants who accept cryptocurrencies indicate that the volumes of clients and payments have increased significantly throughout the past 2021, and recognize that digital currencies offer important advantages. compared to traditional money.

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Delving deeper into this appreciation, 83% of retail merchants in the US indicated that companies that accept payments with digital currencies are one step ahead than those that still do not, since the expectation is that from here to the next 10 years these assets already have a legal framework that establishes clear rules on their use.

Hand in hand with the above, 85% of the participants assured that digital currencies would gain even more traction as a payment mechanism, so they will be much more present in the daily lives of the country’s residents.

Very favorable prospects

In the face of greater adoption among merchants, the report of Deloitte highlights that, although cryptocurrencies are not very popular among small and medium-sized companies (SMEs), the global feeling about them is that an eventual adoption could benefit them in the market.

In this sense, almost 75% of those interviewed indicated that they plan to start accepting payments with popularly known cryptocurrencies and/or stablecoins within the next two years.

On the other hand, among the participants, at least 64% of those consulted assured that their clients showed interest in making payments with cryptocurrencies, even demanding this modality among those who did not have it enabled.

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Among the motivations expressed by merchants to incorporate payments with cryptocurrencies, the following aspects stand out:

  • Offer a better experience for customers.
  • Increase your customer base.
  • That your brand enjoys greater visibility and is perceived favorably.

current bear market

Although the report published by Deloitte present very good prospects for cryptocurrencies among traders, an important detail to note is that this was done at a much more positive time for the digital currency market, since there is currently talk of a possible crypto winter after the fall in the prices of the main exponents.

Hence, the question remains whether the overt sentiment will still hold among interested traders despite the drop in the markets. Analysts suggest that there would be a strategic advantage in certain aspects mentioned above, although it will also depend on the openness of users to use their digital currencies to access products and services at a time when their value has fallen significantly.

Let us bear in mind that there are currently many aspects that are under debate. One of them is the regulatory landscape for cryptocurrencies and stablecoins in the US, which is about to take a turn after the introduction of the bill before the senate presented by Lummis and Gillibrand this week.

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Recommended reading


Font: Finbold, Deloitte report

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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