The striking result of the survey shows that around 85% of traders surveyed expect cryptocurrency to be everywhere in five years.
Cryptocurrencies Will Be Everywhere in Five Years
Lately, we continue to see more and more people adapting to the use of cryptocurrencies as a ‘form of payment’. Deloitte’s survey reveals that traders in the US are optimistic about the digital currency, and shows that the number of users could skyrocket in about five years.
Focusing on US consumer businesses with annual revenues of less than $10 million to $500 million or more, the survey noted that 64% of consumers are currently interested in digital currency and 85% of organizations are of the opinion that digital currency payments will occur. It will become widespread by 2027.
It found that 54% of large retailers with revenue of $500 million or more have invested more than $1 million in digital currency payments authorization initiatives, and 6% of small retailers with revenues of less than $10 million do so. This situation was interpreted as an unexpected result.
Survey report, cryptocurrencies and stablecoinHe also revealed that ‘s are a starting point and play a key role in the growth trend as a technology. It was also underlined that despite all these developments, there are still some disruptions and implementation difficulties that hinder adoption.
Consumer and Merchant Behaviors Are Changing
In another recent survey conducted by Crypto.com and WorldPay that included more than 110,000 Crypto.com and Wordplay users. 75% of consumers confirm that they want to buy goods and services using cryptocurrencies, while 60% of merchants will be in 2022 cryptocurrencyshowed that they wanted to accept them.
Another noteworthy detail in the survey is that while consumers prefer the use of crypto in the ‘travel’ category, the adoption rate in the relevant sector remained at only 25%. However, the luxury goods and retail industries are interested in accepting crypto payments.
The report also revealed that customers are ready to pay for goods and services immediately using cryptocurrencies, but merchants may need to catch up with changing consumer behavior as lower interest rates are recorded in some industries.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.