Consumer-merchant mismatch slows down mainstream crypto adoption: Survey
A new Crypto.com survey reveals a huge gap between consumer demand and merchant acceptance for crypto payments. The secret to fast-track cryptocurrency’s mainstream adoption lies within addressing a contradicted consumer demand for crypto payments across business verticals, reveals a new survey. In a study participated by crypto exchange Crypto.com’s 110,000 customers and over 1.5 million Worldpay merchants, roughly 60% of both merchants and customers shared their interest in crypto payments. However, the consumer demand does not reciprocate the business verticals that accept....
Related News
Despite the finance service industry being bullish on blockchain and crypto, respondents still outlined cybersecurity as the greatest hurdle to mainstream adoption. Blockchain, the underlying technology of cryptocurrencies like Bitcoin (BTC), has already gained mainstream popularity, according to global finance executives polled by Big Four auditing firm Deloitte.According to Deloitte’s 2021 Global Blockchain Survey, 81% of the financial services industry (FSI) executives believe that blockchain technology is “broadly scalable” and has achieved mainstream adoption.Released last Friday, the....
Per a survey published by Bitstamp, the crypto space is on track to become a mainstream industry. The platform conducted a survey with over 28,000 participants, 5,400 senior institutional decision-makers, and 23 retail investors, across 23 global markets to try and take a pulse on the sector. Related Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter Since its inception, digital assets have grown into a $2 trillion industry at its all-time high. Once an interesting way for tech-savvy individuals to send money across the world, the participants of Bitstamp’s survey claim....
Bitcoin company executives and analysts including Irene Katzela, CEO of Chain of Points, firmly believe retailer and merchant adoption is the key to bitcoin mainstream adoption. Since 2014, the bitcoin industry and market have seen a rapid emergence of bitcoin-accepting merchants. Companies like TigerDirect and Expedia have begun to offer bitcoin as one of their main payment methods. Currently, bitcoin is perceived more as a store of value and a safe haven asset rather than an actual digital currency. Some bitcoin investors like Roger Ver argue that the development community of bitcoin....
Cointelegraph Consulting releases some trends and insights featured in their “DeFi Adoption 2020: A Definitive Guide to Entering the Industry.” The majority of DeFi projects believe the industry is far away from maturity, but they are sure that mainstream adoption is likely to occur. This was disclosed on Sept. 21 when Cointelegraph Consulting released the results of a DeFi survey in “DeFi Adoption 2020: A Definitive Guide to Entering the Industry.”The survey showed that 48% of the top projects in the DeFi space expect mainstream adoption to arrive after three to five years, while 8%....
55% of survey respondents said that they were aware of crypto despite never owning or using cryptocurrencies. Among the many complications associated with cryptocurrencies like Bitcoin (BTC), a lack of knowledge and understanding of crypto is the biggest obstacle for wider adoption, according to a new survey.The Economist Intelligence Unit, the research and analysis division of the Economist Group, released a new report called “Digimentality 2021.”The study was commissioned by major payment and cryptocurrency platform Crypto.com and contains a consumer survey of 3,053 people conducted from....