Survey: 8% of US Retailers Plan to Accept Bitcoin in the Next Year
A new survey indicates that 8% of US retailers plan to accept the digital currency within 12 months, with more looking at the longer term.
An online survey has found that 8% of US retailers say they are planning to accept bitcoin within the next 12 months.
The data, collected by Boston Retail Partners, after surveying 500 retailers across the US, showed that none of the businesses were currently accepting bitcoin, whilst 5% have plans to adopt it within three years.
In contrast, the report found that PayPal was the most widely accepted alternative payment type. The payment processor is already accepted by 13% of those surveyed, whilst 49% plan on adopting it in the next three years.
, arguably the biggest threat to bitcoin, is only accepted by 8% of retailers, although an additional 48% have plans to accept it within three years.
The Google Wallet is currently being used by 3% of surveyed retailers, but 28% have plans to integrate the payment method in the next three years.
The survey also found that "payment security, real-time retail and implementing a unified commerce platform", were the top focus areas for retailers.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.