A recent analysis looked into why companies choose to accept cryptocurrency payments and which US cities are currently hotspots for crypto spending on the go.
Skynova provides software for small businesses, and in order to determine earnings from crypto payments, the company polled 584 small business owners and managers in the United States.
According to the report, nearly a third of small companies in the United States now accept cryptocurrency as a form of payment.
The research highlights key US cities in terms of cryptocurrencies, based on the number of cryptocurrency ATMs, restaurants that accept cryptocurrencies, and merchants who accept cryptocurrencies, using data from CoinMap, which controls companies that accept cryptocurrencies.
While Los Angeles emerged as the most beautiful city in all three categories, Chicago remained a second friend.
“Illinois has been making great strides in the digital currency debate, while the state is home to one of the largest bitcoins (BTC) mining centers in the Midwest,” the report said, recalling that Illinois operates on a bill, making it the second-largest state in the country. , after Wyoming, to allow special trusts, such as banks, to have access to finance.
“Chicago business owners have a clear expectation of the long term of cryptocurrencies in their city,” the report concluded.
According to Skynova, 32% of small business owners and senior executives say their company now takes cryptocurrency.
“As soon as PayPal permitted Internet providers to take Bitcoin in 2014, many small business owners shared the choice to adopt cryptocurrencies,” the report stated, noting that 59 percent of respondents agreed that large corporations, such as PayPal, offered green light.”
Half of the respondents (50%) said they were also influenced by new companies such as Tesla who entered the crypto game.
Most of the time, companies accept Bitcoin (58%), Bitcoin Cash (36%), and Ethereum (35%), while acceptance of Litecoin (28%) and Binance Coin (24%) is still very low.