According to Daniel Escobar, chief technical officer of crypto tax service provider ZenLedger, it is vital to look past the current instability in the digital asset industry and embrace cryptocurrencies’ long-term fate inside the regular business. FTX is now dominating digital currency news, and bitcoin and stablecoin values are skyrocketing.
This means that 35% of tech-savvy customers prefer to make purchases from firms that accept bitcoins. It was discovered that highly connected consumers who own and use multiple devices are not only more willing to try out new payment methods than other consumers but are also more likely to invest in or purchase cryptocurrencies.
The panel was the final in a series dubbed “The Merchants Guide to Accepting Crypto: The Questions to Ask,” which was designed to help online and offline shops of all sizes examine what they need to do to take bitcoin at the point of sale.
On the merchant side of the equation, “crypto adoption is truly in its very beginnings,” according to Escobar.
In early use cases, consumers utilized cryptocurrencies to pay for pricey items such as luxury goods and even real estate.
However, he added that merchant acceptance must also increase for cryptos to be widely used in regular commerce. A number of factors and operational challenges must be addressed in order to increase that acceptance.
