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Crypto.com Report Suggests 60% Of Merchants Want to Accept Crypto as a Payment Method Throughout 2022 -Breaking

by Mike Robinson

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Crypto.com report suggests that 66% of merchants would like to accept cryptocurrency as a method for payment in the year 2022

According to a report released in February of 2022 by Crypto.com, titled “Crypto for Payments report,” 60% of merchants are interested in accepting crypto payments within the year, with 75% of customers showcasing the same level of interest.

Cryptocurrency is gaining more attention

The report surveyed over 110,000 Crypto.com users and Wordpay from FIS’ base of approximately 1.5 million merchants. These surveys took place in the fourth quarter of 2021. Surveyees were mostly customers younger than 40 years old. Merchant surveyees came mainly from gaming and digital media.

Source: Crypto for Payments Report

The fact that merchants are now more interested in accepting crypto is one of the highlights. The cryptocurrencies that were most popular here were: (BTC),(ETH),and (USDC).

For merchants, the focus was on e-commerce and not on in-store shopping. However, customers are interested in using both.

Mastercard (NYSE 🙂 and Bakkt partnered up to offer Crypto services to U.S. consumers, merchants, fintech companies, and financial institutions in October last year.

The Flipside

  • Only 4% of retailers currently accept cryptocurrency as payment. This gap could lead to growth in crypto acceptance.

What You Need to Care About

The mass adoption of cryptocurrency payments is imminent. These figures are indicative of an overall increase in cryptocurrency adoption. The consumer sees the benefits in crypto-to fiat conversion cost. Merchants view it as lower transaction fees.

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