Analysts explained what affects the speed of adoption of digital currencies by businesses
Crypto.com experts conducted a study that showed that the demand from buyers and the desire of sellers to make transactions in cryptocurrency are quite large.
More than 100 thousand clients of the crypto exchange and more than 1.5 million Worldpay sellers took part in the survey.
75% of Crypto.com customers want to purchase goods or services with digital assets. 60% of sellers on Worldpay are ready to accept cryptocurrency as payment for goods or services.
However, in some industries, the demand for payments in digital currencies significantly exceeds the supply of merchants in terms of such transactions. Clients are ready to interact with crypto assets, but they have a rather poor choice.
Industries where the gap between consumer demand and supply is very large include travel, automotive, digital media and hospitality. It is this factor that affects the speed of implementation of payments in cryptocurrencies by entrepreneurs, analysts are sure.
“Because of this, 64% of Crypto.com customers use prepaid cards to spend their funds at companies that do not support direct wallet transfer,” experts note.
At the same time, analysts believe that the gap between buyers and sellers opens up huge opportunities for entrepreneurs.
Businessmen involved in retail, luxury goods and video games are showing great interest in digital currencies. Luxury brands and retailers have begun to look into NFTs to authenticate their products when seeking new customers. However, the clients themselves are less enthusiastic about crypto assets than the sellers themselves.
Another contradiction is related to the choice of payment instruments. About 70% of customers would prefer to pay at the point of sale or online. But sellers prefer to make payments through e-commerce sites.
Both customers and sellers have confidence and prefer digital currencies with the largest capitalization. These are BTC, ETH, LTC and US dollars.
What do you think about the gap between supply and demand when trading in cryptocurrencies?