Commercial adoption of bitcoin and other cryptocurrencies
More and more businesses are making investments in areas that appeal to their target audience in an effort to enhance the customer experience and increase sales. Since sellers are aware that customers prefer to pay with cryptocurrencies, they have also chosen to accept this method of payment. More than 75% of retail managers are prepared to accept cryptocurrency payments.
According to a Deloitte poll, 75% of businesses intend to accept cryptocurrency or stablecoin payments over the next two years. Just so happens, 2,000 senior executives in the retail sector were recently the subject of a Deloitte survey. The following sub-sectors are represented by these executives: electronics, transportation, food, beverages, fashion, and cosmetics.
The survey found that 83% of businesses anticipate that by 2023, customer interest in bitcoin and other digital currencies will rise. A little more than half reported spending more than $1 million to facilitate digital payments.
Be aware that the value of digital currencies like bitcoin (BTC) can fluctuate wildly. Stablecoins are more stable since they are tied to an asset and get their value from that asset. These days, many of them are linked to the euro or the US currency.
Consumers will soon be able to purchase goods including apparel, beverages, cosmetics, and other items with bitcoin (BTC). It must be noted that more than 50% of businesses willing to take cryptocurrencies as payment do not want to store them. In order to lessen the danger of volatility, they intended to trade them for fiat money.
