Zogby Analytics: 36% of the U.S small and medium – sized businesses accept cryptocurrencies
There are 36% of the US small and medium-sized businesses accept cryptocurrencies as a payment method, and 59% previously acquired such assets for their own use. This is evidenced by a survey conducted by Zogby Analytics, part of the insurance company HSB.
Most of the young companies that exist for 5 years or less have accepted crypto payment, such among the respondents was 47%, while the enterprises existing for more than twenty years, only 21% are willing to accept crypto assets.
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Timothy Zeilman, vice president for HSB, ended up that among the main advantages of using cryptocurrencies, companies discriminate between fast payments and low commissions. However, some factors prevent this method to become the most common like cyber-attacks and fraud.
He said cybercriminals follow the money and fraud can be a serious problem. There is a number of currency exchanges that have been hacked or stolen millions of dollars. Small business owners should equip themselves all about the technical knowledge before accepting cryptocurrency. And make sure they have strong data security and insurance to protect against cyber fraud and financial loss.
The survey conducted with 509 small and medium enterprises. The final version included 41% of companies with less than 25 employees. The error of the study is 4.4%.