Crypto Payments: The New Normal for U. S. Shops?

Crypto is making waves in U. S. shops, and it's not just a trend. A recent study by the National Cryptocurrency Association (NCA) and PayPal shows that almost 40% of U. S. merchants now take crypto payments. This isn't just a fad; it's becoming a standard way to pay. The study asked 619 people who make payment decisions in different industries. They found that customers are really pushing for crypto payments. In fact, 88% of merchants say customers ask about paying with crypto, and 69% get these requests at least once a month. For businesses that already accept crypto, it's not just a gimmick. It makes up over a quarter of their sales, and 72% say they've seen growth in crypto transactions over the past year. But why are businesses jumping on the crypto bandwagon? Well, it's not just about keeping up with the Joneses. Merchants say crypto payments are faster (45%), attract new customers (45%), offer better security (41%), and provide more privacy for buyers (40%).Big companies are leading the charge, with 50% of those earning over $500 million annually accepting crypto, compared to 34% of small businesses and 32% of midsize firms. Younger shoppers, like Millennials and Gen Z, are also driving demand, with 77% and 73% respectively interested in using digital assets. However, there are still some hurdles to overcome. The study found that 90% of merchants would consider accepting crypto if it were as easy as setting up credit card payments. They also want the payment experience to be as smooth as traditional methods. So, what's the takeaway? Crypto payments are here to stay, and businesses are starting to see the benefits. But to make it truly mainstream, it needs to be as simple and seamless as possible.