67,1% of micro businesses do not know what cryptocurrencies are.

[Aurora Castro]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

[1715336699]

1715336699

[1715336699]

1715336699

[hatshepsut93]

If 16.5% of small enterpenuers adopted crypto today and their customers actually used it, that would be a great success for crypto as a whole, because it's so far away from what we have now - how many merchants accept crypto right now - 0.1% ? You may think that this survey point out that not enough business owners support crypto, but it actually shows that not enough customers are interested in paying with crypto, so there's not much demand for its adoption.

[dimastegar]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

[TimeTeller]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

Though internet is one of the major source of information when it comes to crypto.
Many people don't have the access to internet but for those who knows how to use it, they are the ones that learned first about crypto.
And for those interested to know more, they can always read a lot of articles pertaining to crypto.
This forum alone can already give you tons of knowledge and information to all levels of  crypto users - newbies, miners, developers, or just regular crypto users.
I think it is now easy to understand things if you will really devote time to study. We do have now google and everyone has the freedom to search what is unknown to him.
So those merchants, what they can do is give time to understand crypto if they want to know more about it, the benefits that they can derive and so on.

[Rodeo02]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

There should be a way to educate them easily. The reason why they dont know about crypto is because they are busy in other things lack of time to study or no one will teach them. It will be a big help if there are business that will accept crypto or bitcoin in thier store and other store will be curious what it is and soon will follow  to accept it also.

[mrquackquack]

Well I'm obviously not an expert on either the economy of mexico or s.a. but seemingly I don't think these countries/continents are living under a rock. None the less they might have heard about crypto so on and so forth and well along with mexico, s.a. and africa are seemingly an untapped market for digital currency. Also alot of people still to this day aren't aware of crypto and blockchain technology. None the less i think people living in those areas, should be vigilant about spreading the benefits for crypto to maybe one day offer them another form of pay.

[crzy]

Most of the Micro businesses in my place didn't have any access in bank as well and I don't they should have too since the capital is small and just enough to support their business. Micro Businesses are too far from this kind of adoption, and most of them don't need this one but hopefully in the future they will adopt too.

[Aurora Castro]

If 16.5% of small enterpenuers adopted crypto today and their customers actually used it, that would be a great success for crypto as a whole, because it's so far away from what we have now - how many merchants accept crypto right now - 0.1% ? You may think that this survey point out that not enough business owners support crypto, but it actually shows that not enough customers are interested in paying with crypto, so there's not much demand for its adoption.

It is true, because the same problem is repeated in both cases, and they do not have enough information, and they are afraid of taking risks, they prefer to continue in something "safe". and I believe that if microenterprises implement this payment method, it would help society to want to know more about this.

[CryptoBry]

If 16.5% of small enterpenuers adopted crypto today and their customers actually used it, that would be a great success for crypto as a whole, because it's so far away from what we have now - how many merchants accept crypto right now - 0.1% ? You may think that this survey point out that not enough business owners support crypto, but it actually shows that not enough customers are interested in paying with crypto, so there's not much demand for its adoption.

Exactly. This is the problem on the side of the customers and consumers. We have to remember that if there is a need or the demand for any infrastructure like a payment scheme, any business will eventually adopt otherwise they can be left out of the blue. However, when these business owners do not see their customers demanding or even suggesting that they should be allowed to pay using cryptocurrency then they will not act accordingly. Merchants can easily adapt to anything,  they usually just follow the trend where the money is. However, the big takeaway here is that there remains a vast opportunity for cryptocurrency to explore, and we are hoping that time is coming when this gap can slowly be filled so that at least 25% of these business owners can be using cryptocurrency maybe five years from now. 

[Aurora Castro]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

Though internet is one of the major source of information when it comes to crypto.
Many people don't have the access to internet but for those who knows how to use it, they are the ones that learned first about crypto.
And for those interested to know more, they can always read a lot of articles pertaining to crypto.
This forum alone can already give you tons of knowledge and information to all levels of  crypto users - newbies, miners, developers, or just regular crypto users.
I think it is now easy to understand things if you will really devote time to study. We do have now google and everyone has the freedom to search what is unknown to him.
So those merchants, what they can do is give time to understand crypto if they want to know more about it, the benefits that they can derive and so on.

Exactly, although Google and YouTube have banned some content about cryptocurrencies. And what you say is true, example in Venezuela the light and internet fail a lot, so it is complicated that communities like these can obtain information.

[blckhawk]

That effectively means that 16.45% of all microbusinesses on that local area are willing to accept cryptocurrencies. That's normal because:

1. Microbusinesses often knows that cryptocurrencies are volatile, and not knowing there are stablecoins.
2. They are still assessing the risk-benefit ratio, and clearly, risks like slow transactions or uncertainty if the transactiom would pass through, aren't worth of the benefits they would get.
3. Adoption would most likely start from those large companies, because once these small businesses see that the big players do it, it must be something good, and adoption would be easier.

[MURONDI]

in my opinion for now bitcoin is not suitable for payment, especially for small companies, because the price of bitcoin is very volatile, bitcoin is more suitable as an investment asset as is stock, maybe in the future bitcoin can be implemented as a means of payment.

[TastyChillySauce00]

in my opinion for now bitcoin is not suitable for payment, especially for small companies, because the price of bitcoin is very volatile, bitcoin is more suitable as an investment asset as is stock, maybe in the future bitcoin can be implemented as a means of payment.

This volatility problem has long been resolved. just use payment gateway services out there they will automatically convert all the cryptos they received into money and send it straight into your account. People keep repeating the same thing about volatility makes bitcoin unsuitable for payment but that's not actually the case. Even the transaction fee has now becoming so cheap and the transaction speed is well, not really fast but normal enough.

[Yaunfitda]

What you think?
-Why does the population know cryptocurrencies?

I think it's case to case, look at Japan, at least majority of them know bitcoin because they are using it.

-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?

It will be good for bitcoin if we see offline/online stores starts accepting it.

-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

Maybe, but the thing is that every country or at least the whole population are now interconnected because of Internet so I doubt that some country or individuals are going to be isolated and not known crypto in the next coming years.

[Getmon]

I think this is the common pattern all over the world. At this stage, cryptocurrency is still infant and growing. We cannot deny that the adoption is not yet at its fullest but we can surmise that the speed is pretty much fast. 32% awareness of cryptocurrency among businesses is actually high. And since half of it is willing to accept crypto, that would mean 15% of all businesses are open for crypto market adoption. That is already a good number. And it is still growing.

[bering]

Nothing to be blamed because the statistics in other countries could be higher than in Mexico but indeed cryptocurrency isn't something to be interested for some people especially for the enterpreneurs that with the charateristics of cryptocurrency which is volatility always be part from it then maybe although most people know cryptocurrency then probably they will not using it or ignore it

[pooya87]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

there are a couple of things wrong with this study.
first of all the study group is too focused and limited. not to mention that it is not global whereas bitcoin is a global currency and the percentage differs from one region to another.
secondly i say that the last 50.4% is way too low, i'd expect at least 90% of them say no to the question. i would say no to it too because i have no desire in accepting "cryptocurrencies". i would however say yes to the question "would you accept bitcoin as payment".

[peter0425]

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?

then that means mass adoption really happens right?and if this comes true then we are on the right track and may give us all the blessings we need.

-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

there is of cours,but i am lucky that my country is not one of those because we have a open minded president that understand what crypto can give and help to our economy.

[Juggy777]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

Well it’s difficult to answer the first question because I’m not residing in Mexico, hence I’m not aware why the locals haven’t shown any interest in bitcoins or any crypto for that matter.

The second question I believe you’re referring to is why the 32.9% knows about bitcoins, I believe the answer is that they’re the tech savvy population and that’s why they know about it.

As for your third question no one really knows whether we will see a major growth in prices, or will the prices remain neutral because of the sudden adoption.

The answer to your fourth question can be found by a simple google search, and I feel you should use google for it and if you find interesting statistics do share here.

[JeffBrad12]

Even if 80% of micro business start implementing crypto as one of their payment processing method in their system it will further stimulate the adoption. They will indirectly inform people that there are things could be used for payment and not just paper money.

Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

There are many, or i must say far too many even in the developed country. As you can see, japan that is deemed to be crypto friendly have relatively low crypto adoption for small business as I can see.

[bitvalak]

I want to be sure, are cryptocurrency advertisements there restricted? If so maybe that is one of the causes.
Because cryptocurrency began to be known through the internet, so at least people know that there really is cryptocurrency there.
But looking at the facts like that I think there are certain restrictions that make not many Mexicans know even understand about bitcoin.
Moreover, I also rarely find in the thread there is cryptocurrency news that is happening in Mexico. Maybe its citizens prefer fiat money for daily needs, including micro businesses that are there.

[avikz]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

I am sure the result of such surveys will be similar in the other countries as well! There are two reasons,

Micro businesses depends heavily on cash rolling! The income they earn usually goes back into the business to procure new goods! For them, accepting cryptos will be adding another layer of transactions before they can invest that money into their business again! Such kind of micro businesses would not be interested in accepting bitcoin unless they can procure the goods  from the supplier using bitcoin.

Secondly, the price fluctuation is another big pain area for such small businesses! The margin of their business is usually remains between 5% - 8% (at least in my country)! And such kind of fluctuation is very normal to bitcoin. So it's a risky proposition for small businesses. So small businesses are not really ideal for accepting bitcoin right at this moment.

[LorenoCoin]

the human being fears changes by nature. As many fear being scammed. The issue of cryptocurrencies is that in some countries tends to be rejected only because it is digital and its price may vary for the worse, many people prefer to handle the price of a currency that they know will take time to change its value.

However, I understand that there are countries like Venezuela where they use a stable cryptocurrency to pay pensions and salaries, this forces the population to learn more about this, it should be noted that the value of the Venezuelan currency every day falls, so it is much more convenient to store your goods in these cryptowallets, of course this is a very particular case of this country, but I find it curious that today is one of the countries with more movements of BTC.

[iram3130]

When there is an option like Google pay, where money received can be directly sent to their bank accounts, I feel these small entrepreneurs would hesitate to accept crypto. We need a way to educate venders about the security of crypto compared to these methods then there is a chance of increasing the adaption of crypto.  

[bounceback]

The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment?

32.9% of people who understand the concept of crypto might be one of the reasons for the low percentage of crypto, perhaps due to lack of knowledge about crypto currencies so they don't want to take risks with crypto currencies, and if we look at it now almost every country in Europe they prefer use cash for all their activities, from paying daily needs or electricity bills, maybe because they think that cryptocurrency is rather difficult if used as a method of daily payment compared to cash.

[clickerz]

Most of the Micro businesses in my place didn't have any access in bank as well and I don't they should have too since the capital is small and just enough to support their business. Micro Businesses are too far from this kind of adoption, and most of them don't need this one but hopefully, in the future they will adopt too.

True, if they did not have access to backs how much more to cryptocurrency. But now thanks to the digital currency, since you don't need to open an account but only mobile phones and you can have access to some financial services. You can now have loans using your mobile, no need to go to bak, you a send also digital cash to anyone with mobile phone. This is a good opportunity for cryptocurrency tp come in,  just like our local exchange.

[Dhoe]

Not only in Mexico, I think almost all countries also 50-70% of the people do not know the world of Crypto, They are still comfortable using fiat money as payment in their business. I guess it's only a matter of time that they will eventually get to know Cryptocurrency and will use it as payment.

[n0ne]

Not only in Mexico, I think almost all countries also 50-70% of the people do not know the world of Crypto, They are still comfortable using fiat money as payment in their business. I guess it's only a matter of time that they will eventually get to know Cryptocurrency and will use it as payment.

Almost in every country the awareness about cryptocurrencies were very low. If this is something like paypal or other services automatically it'll be promoted through the respective team working for it. With bitcoin as it is open source there is no team dedicatedly functioning on promoting bitcoin. We need to take forward the step to promote bitcoin through the acceptance on small scale businesses.

[Eugenar]

Almost in every country the awareness about cryptocurrencies were very low. If this is something like paypal or other services automatically it'll be promoted through the respective team working for it. With bitcoin as it is open source there is no team dedicatedly functioning on promoting bitcoin. We need to take forward the step to promote bitcoin through the acceptance on small scale businesses.

It might be for this time, but with the growing number of bitcoin and cryptocurrency adopters that are also pushing bitcoin to be known further, people will start to think of it as a big deal to their economy and system. Banks and government for example will try to implement their rules and regulation to make it centralized, but with the innate capabilities of crypto being decentralized, banks would have no power over it, instead, making laws regarding proper usage of bitcoin might as well as to allow stores to use bitcoin might be possible if and only if, they could find ways to incorporate taxes to it.

[death69]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

It is not as easy as you think. There are many people from the old generation think that bitcoin is scam. They do not want to involve new technologies. Changing their mindset is one of the hardest things to do in this world. Bitcoin will be used in the future but right now, the old generation feels that it is fine to use bank and cash. To them, they are safer than bitcoin
Moreover, there are not many schools teaching their student bitcoin and blockchain. There are many things to do to make people believe in bitcoin

[michellee]

Yes, that might be true. The micro-businesses are not updated from the news, and sometimes, they don't even know if what is happen in out there. The micro-businesses are busy to grow their business, and many of them don't use the internet as a way to expand their business. The micro-business is available in real life, but not in the online, and only some of them are interesting to expand their business using the internet. They don't know cryptocurrency, and they don't have much information about the internet.

[theskillzdatklls]

Until people can implement things that actually make it worthwhile to use Bitcoins, I don't see the future happening.

Right now with credit cards, people get their super fun 2% cash rewards stuff. On top of that, they also get the ability to not pay it off for a month+, they get fraud protection and all the rest.

Meanwhile with Bitcoin you pay a fee to own it and pay a fee to send it to the merchant. No perks.

If a solution could be created that gave people spending Bitcoin rewards that were potentially even greater than CC solutions, which is completely possible given the landscape, then some level of retail adoption could happen and force businesses to want to understand the tech.

[bitbunnny]

Well, I'm not surprised. People in general, not just micro businesses are not well informed about cryptocurrencies. Many don't think they can implement it in their business, many still don't trust it and many don't feel safe and confident about cryptocurrencies because of lack of regulation and legal protection.
These are all very important factors that influence on crypto adoption by businesses. Business owners need more education and information about cryptocurrencies and their possibilities in business world.

[kro55]

Right now crypto usage is limited to tech aware people only. Although paying with crypto is not very tricky but getting started and knowing about crypto is not possible for everyone. Probably that’s the reason why crypto adoption is low. Every new innovation has to see such dry period in the start, so it’s OK if we don’t have much bitcoin users right now.

[plvbob0070]

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

I've already expected that kind of percentage. Bitcoin is still at the starting point of mass adoption that's why majority still doesn't know about its existence. I can say that here in my country, there's a possibility that we can also get such percentage or even more. Crypto is quite popular here but not for those who owns microenterprises. Since it's a "micro", in my country they don't need that much of technology to run their business so I bet they're not aware of it. But believe me, after years, Bitcoin can be more popular. And more businesses will adopt it.

[bangjoe]

As far as I know, Mexico is open to crypto rules under the supervision of the fintech agency (FTI), but it is very strict with daily transaction limits and must be reported to the government if more than that. all micro businesses may not know it, because understanding is set on an online based business. 67.1% is too big and can affect fiat, their government might also not like it. Many countries are similar to them, maybe they already know, but don't want to face complicated regulations.

[darewaller]

the human being fears changes by nature. As many fear being scammed. The issue of cryptocurrencies is that in some countries tends to be rejected only because it is digital and its price may vary for the worse, many people prefer to handle the price of a currency that they know will take time to change its value.

However, I understand that there are countries like Venezuela where they use a stable cryptocurrency to pay pensions and salaries, this forces the population to learn more about this, it should be noted that the value of the Venezuelan currency every day falls, so it is much more convenient to store your goods in these cryptowallets, of course this is a very particular case of this country, but I find it curious that today is one of the countries with more movements of BTC.

Most of the cryptocurrencies have most volatile nature and it does not make them suitable to start accepting as a method of payment for most of the sellers who would want a stable source of payment. of course there are some stable coins too which can be altered to use as a payment method similar to USDT as the price for USDT always remains constant as of the American US dollar so it might give an ease to the shopkeepers to accept USDT payments.

Yet, they fear for doing so because most of those might not even be trusting any such digital currencies. Micro businesses actually are owned by some average financial life individuals and they might not find it suitable to risk their money into the digital coins which are not of much use for them.

[isaac_clarke22]

~

Most of the cryptocurrencies have most volatile nature and it does not make them suitable to start accepting as a method of payment for most of the sellers who would want a stable source of payment. of course there are some stable coins too which can be altered to use as a payment method similar to USDT as the price for USDT always remains constant as of the American US dollar so it might give an ease to the shopkeepers to accept USDT payments.

Yet, they fear for doing so because most of those might not even be trusting any such digital currencies. Micro businesses actually are owned by some average financial life individuals and they might not find it suitable to risk their money into the digital coins which are not of much use for them.

This is exactly what's in my mind already.
Those merchants as well as companies aren't sure yet whether they can handle such volatility or not. They could somehow make the payments be converted already to their local currency if they would like to avoid the unstable price pretty much the same way as how credit/debit cards complete a transaction.

[Gotumoot]

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

I think this is because of government regulations that's why many micro bussiness are not acccepting bitcoin.  And also bitcoin price are volitle that will affect the true value of product.  And if 67.1% accept bitcoin thier bussiness will affected of volitle price and this will lead to bankcruptcy.

[Linkkoin]

This is exactly what's in my mind already.
Those merchants as well as companies aren't sure yet whether they can handle such volatility or not. They could somehow make the payments be converted already to their local currency if they would like to avoid the unstable price pretty much the same way as how credit/debit cards complete a transaction.

Volatility could be problematic for taxation purposes, but even more - for long term contracts. As this could work for a small cafeteria, for a small business related to the industry it could work worse.  

[Rosilito]

Basically it just lands on one certain reason and that is price changing (for the entrepreneurs who knew cryptocurrency) that on the other hand is tough thing to adopt. Businesses though must be a risk taker for a first place isn't a fan of this kind of space. They are risking a product but no the income itself, what I mean is that usually the risk they are diving in were like a stuff prior to income. So although crypto might be beneficial it is still like going all out in which such businesses are afraid to taking off, imo. Entrepreneurs isn't like they didn't care at all but it is just like a much more bigger risk that not a little thing that is easy to handle. On the hand those larger scale who didn't know what crypto is, may be they aren't a technical one so they may be not yet crossing out with crypto space.

[rdluffy]

In my country the number of people who knows at least the word Bitcoin are high, because of the bullrun of 2017 when people sold their houses to buy BTC, but for small business and even business in general, people don't have interest to work with BTC because it's not so simple
And they are right, at least for now, the prices are very volatile, it's not so clearly regulated, payments have some high fees for small payments...

It's not the right time to small business enter in BTC

[btccashacc]

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

The price would be spike since more people use bitcoin as a payment method. Even in developed countries, most people don't know about bitcoin and crypto, I don't know if they are very comfortable with their fiat now. The reason why bitcoin still not being adopted widely as a payment method because the fee is just too high compared to other payment methods even fiat charges no fee, if people want simplicity or cashless then they will choose fiat among those options.

[bitcoindusts]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

I think it is the government acceptance and its awareness campaign towards it that is lacking.  Aside from that business wouldn't want to encounter problems while dealing with cryptocurrency.  They very comfortable with fiat currency and they do not want to step out of their comfort zone just to try some technology.  Aside from that, the expenses and the hardship to learn the knowledge to operate this payment system is another issue.

[darkangel11]

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

I guess you wanted to ask why the population does not know cryptocurrencies because most businesses are unaware according to the data.
They don't know because they don't care about improvements in this sector. When you're running a business you care about your revenue, your suppliers, your loan, but not about new types of payments. Most people know that you get paid with fiat money and that's it. They don't have time to do research.

If it was 67% of enterprises in Mexico probably nothing serious would happen. If it was 67% of businesses in the USA... Let's say that paying 100k for BTC would be getting it cheap.

[audaciousbeing]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

Its not surprising really and its not limited only to Mexico. The reason is not far-fetched. Majority of the businesses that would have been part of the survey would have been established by people who are advanced in age and they have been running their businesses before the advent of bitcoin which is a little above ten years. In all of these entrepreneurs, only few of them would be up to date in terms of technological advancement. The survey would give a more representation if focus is on businesses established within the last decade, run and managed by millennials.

[Meowth05]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

Exactly, people are unaware with this cryptocurrencies because it is not being publicize. The people who only know about this technology are the one who scanned it online and the people where they introduce it upon. Besides, I just barely seen a media talks about cryptocurrencies and even if they did it is always been tell in bad way just like in my country where it is been introduced because of someone scheme. That is why I envy those countries who shows their full support upon using this kind of advanced monetary and hoping for our government to will acknowledge this sooner.

[Mia44]

The truth is that the number of people who know about cryptocurrencies globally is very low, people have difficulty accessing cryptocurrencies because it requires certain knowledge of information technology. But with the rapid growth of technology it's not a problem, it's how the cryptocurrency will change to be used in practice.

[buwaytress]

Not sure why that's a shocker. In general, I do gush a bit about bitcoin, probably more than I should, but I think it's really important to understand the rest of the world (and where microbusinesses are).

>10% of GDP of txs in huge parts of Africa, for example, are made mobile money. They solved their issues a while back, and bitcoin may not yet be a suitable successor, simply because... access. A simple cheap $5 phone gets you mobile money but may not get you bitcoin access.

South and Central America, strangely enough, is a better place to introduce bitcoin and they might actually skip altogether mobile money if so. Plus, now that Lightning is close to fullblown readiness.

[cosmicrays]

It is unlikely that anything will change when they find out about it, but the blockchain technology would interest them more.

[Aikidoka]

Nowadays, bitcoin still not developed well in a lot of countries around the world. so it's expected that bitcoin is not known well in some countries like Mexico because I think it needs time to be more populated also I think a lot of people who are traders not willing to accept bitcoin because they were hearing a lot of bad stuff about it like it's used for buying illegal stuffs or probably because of the volatility of the price of it.

[Hamphser]

It is unlikely that anything will change when they find out about it, but the blockchain technology would interest them more.

It will if someone has to go and introduce it to them.
Bitcoin and other cryptocurrencies are something new to these people because they are not seem to be more active in computer or something but they too focused on their businesses that's why I think they don't know what is cryptocurrency is not unless if it is shown in television i think.

[Golftech]

Nothing to be blamed because the statistics in other countries could be higher than in Mexico but indeed cryptocurrency isn't something to be interested for some people especially for the enterpreneurs that with the charateristics of cryptocurrency which is volatility always be part from it then maybe although most people know cryptocurrency then probably they will not using it or ignore it

Until now the images of crypto in the minds of business owners relates to its volatility many owners are not okay with so much changes with the fiat value of this cryptocurrencies they will choose to stay with regular fiat and not have any complicated system that might harmed their business.
More on investment side and not being fully adopted to be use as currency that's why businesses are still doubts to accept it.

[Artemis3]

One of the reasons most people don't know about crypto is the lack of crypto education. Most people who know about crypto are because they do research about this technology. We as crypto users should be responsible for spreading education and the benefits of using crypto. Starting from the closest people around us.

Though internet is one of the major source of information when it comes to crypto.
Many people don't have the access to internet but for those who knows how to use it, they are the ones that learned first about crypto.
And for those interested to know more, they can always read a lot of articles pertaining to crypto.
This forum alone can already give you tons of knowledge and information to all levels of  crypto users - newbies, miners, developers, or just regular crypto users.
I think it is now easy to understand things if you will really devote time to study. We do have now google and everyone has the freedom to search what is unknown to him.
So those merchants, what they can do is give time to understand crypto if they want to know more about it, the benefits that they can derive and so on.

Exactly, although Google and YouTube have banned some content about cryptocurrencies. And what you say is true, example in Venezuela the light and internet fail a lot, so it is complicated that communities like these can obtain information.

At this point this is not so much an issue, since we are (sadly) heavy social media users, and most news in Venezuela moves this way (because no one trusts traditional media due to gov censorship). Of course social media is also full of garbage but that's how it is.

The term "cryptocurrencies" is hard to dig. Yes, some people use it because they want to appear "neutral" to the altcoins, and sometimes there is some altcoin foundation behind paying things (such as Dash aggressive marketing), so to not "look bad" they use this convoluted word.

But the word Bitcoin is a whole lot different. Try asking instead if they know what Bitcoin is, and the results might be different. Bitcoin as a brand has a much heavier impact, and has become a cultural phenomenon.

Note that is is just "knowing" what it is, accepting it directly as merchants are a whole different issue. And at what rate, because even if someone informally accepts it, it might be at a very unfair rate; this is a common practice here in hyperinflation land. 5% margin? No merchant here sells anything under 100% margin, and that's before adding the predicted inflation rate. Yes our economy is garbage and its one of the reasons it ended up in ruins. People's habits... For them State is there to protect their sick practices: The reason you have to obtain an import permit is what allows you to sell at twice the international price. Triple and more is also common, you would cry if you saw asic miners prices in the local market...

[SquallLeonhart]

There are several reasons why a lot of micro businesses wouldn’t see Bitcoin as an option for their businesses.
Number one reason is 'fastness'– cryptocurrency is not really an option if you’re looking for a fast means of doing business.they already have cash, they can just collect cash from their customers and package their stuff for them and that’s it, business is done. They also have POS and customers can just swipe their cards and get paid, no stress.

But, imagine when you’re accepting cryptocurrencies the processes that would be involved for a single transaction, from having to tell customers your address and having them to go through the process of copying and sending and you confirming. Sorry, that’s a long process and before you withdraw that money you will also pay for some fees, when you can just use POS and have the money immediately in your bank account.

[DevilSlayer]

Nothing to be blamed because the statistics in other countries could be higher than in Mexico but indeed cryptocurrency isn't something to be interested for some people especially for the enterpreneurs that with the charateristics of cryptocurrency which is volatility always be part from it then maybe although most people know cryptocurrency then probably they will not using it or ignore it

Until now the images of crypto in the minds of business owners relates to its volatility many owners are not okay with so much changes with the fiat value of this cryptocurrencies they will choose to stay with regular fiat and not have any complicated system that might harmed their business.
More on investment side and not being fully adopted to be use as currency that's why businesses are still doubts to accept it.

The volatility is also a concern but the main concern is the awareness. The study says the businesses are still not aware about bitcoin and it usage. There will be a domino effect if one businesses start to adopt bitcoin becayse the other businesses will get curious and they will also copy that kind of strategy. If we will just spread what we know then the businesses will start to become familiar on what it is.

[karanggatak]

this survey also means that the majority of our community does not know about cryptocurrency. this is why until now bitcoin and cryptocurrency have not yet been adopted. because the number of people who understand cryptocurrency is still small. this resulted in the majority of micro businesses not accepting bitcoin as a payment tool. and also most crypto users do not use bitcoin for payment tools. they only use bitcoin for investment and trade.

[k@suy]

this survey also means that the majority of our community does not know about cryptocurrency. this is why until now bitcoin and cryptocurrency have not yet been adopted. because the number of people who understand cryptocurrency is still small. this resulted in the majority of micro businesses not accepting bitcoin as a payment tool. and also most crypto users do not use bitcoin for payment tools. they only use bitcoin for investment and trade.

Very well said. Admit it or not the number of non users are greater than the number of users. Cryptocurrencies needs more a lot of improvement and mass promotion in order to inform the other people that the cryptocurrency is not just only for illegal purposes because some other people when you ask about cryptocurrency their perspective is bad or they are thinking that it is for illegal transactions most especially for deepweb. We should convince them that if there are negative effects of cryptocurrencies, there is also positive effects.

[irsykes]

this survey also means that the majority of our community does not know about cryptocurrency. this is why until now bitcoin and cryptocurrency have not yet been adopted. because the number of people who understand cryptocurrency is still small. this resulted in the majority of micro businesses not accepting bitcoin as a payment tool. and also most crypto users do not use bitcoin for payment tools. they only use bitcoin for investment and trade.

Very well said. Admit it or not the number of non users are greater than the number of users. Cryptocurrencies needs more a lot of improvement and mass promotion in order to inform the other people that the cryptocurrency is not just only for illegal purposes because some other people when you ask about cryptocurrency their perspective is bad or they are thinking that it is for illegal transactions most especially for deepweb. We should convince them that if there are negative effects of cryptocurrencies, there is also positive effects.

That is our job to tell people, maybe can start with people near us so they not get false information about bitcoin. Because like what you said, some people maybe get information about cryptocurrency in news, either it is newspaper or tv. And some of them mostly about criminal who use bitcoin and they think use bitcoin is prohibited or maybe only some investment that scam people.

[Murat]

Not only in Mexico but also every country's small scale industries are not aware of Cryptocurrency, so there is a huge lack of communication, I think Crypto expert should take it seriously because that portion would be a good option for more flourishing of cryptocurrency, Only millionaire and Billionaire could not only play the major role in this sector so small scall business should be included in this system for the future purpose, I think if we want to see cryptocurrency as a payment system then mass level popularity is certainly helpful. if 67.1% of microenterprises would accept cryptocurrency then it would add a vast positive vibe to this crypto world.

[nicolas1979]

That's normal because micro business/ industry only using and familiar with currency not crypto. Besides that there's no regulation and protection about crypto transaction, even they knew avoid using crypto is the best they can do. Need more information and example to giving new mindset about crypto and to support their business, crypto is worth for that purposes. Try to invite them into group or forum discussion to make them understand about crypto. Government reject crypto but they never stop people to learn crypto, use that gap.

[Eclipse26]

Micro and small businesses is much bigger in percentage compared to large businesses as it only need small capital and much easier to start than larger one. We really need to build small businessmen's trust with crypto if we aim to increase mass adoption. In order to gain it, government's acceptance is still a must because every business will go to government first to legalized their business. In my country, they have this seminars for those who want to start a business and it would be great if there's also a seminar about crypto for them.

[Darooghe]

I think the trouble is until any coin has long-term stabilization, we won’t ever see use cases for crypto. Once this happens and people can actually convert fiat to crypto with confidence and pay a merchant with crypto as easy as they can tie their shoes, you will see more purchases. Also remember the average business fee per transaction is 2-6% for the merchant. This is a trickle down effect that effects everyone in the long run. Cryptocurrency will eliminate this and make it more efficient for the consumer.

[salad daging]

Not only in Mexico but also every country's small scale industries are not aware of Cryptocurrency, so there is a huge lack of communication, I think Crypto expert should take it seriously because that portion would be a good option for more flourishing of cryptocurrency, Only millionaire and Billionaire could not only play the major role in this sector so small scall business should be included in this system for the future purpose, I think if we want to see cryptocurrency as a payment system then mass level popularity is certainly helpful. if 67.1% of microenterprises would accept cryptocurrency then it would add a vast positive vibe to this crypto world.

percentages above 50% are no longer a positive vibe, but they will exceed the average adoption rate, it also has not been calculated by businesses on a larger scale. what needs to be done is an educative movement that is quite often carried out by foundations that really intend to build the basics needed, including covering some important things in helping shape startups, fear is not the main factor for them, the most important is action and reaction.

[BlackFor3st]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

What people usually fear are those currencies that they didn't know how to use or they know that certain currencies but they are not yet ready on how they are going to adapt the vulnerability of it's prices.

That is why, 50.4% of those who knows about crypto said that they are not willing to accept crypto currencies. Here in our country, the acceptance is there but it is limited to very few only and I guess it will continue to grow once the other big countries will start to use crypto currencies as their payment options like in supermarket and etc.

[Linkkoin]

I think the trouble is until any coin has long-term stabilization, we won’t ever see use cases for crypto. Once this happens and people can actually convert fiat to crypto with confidence and pay a merchant with crypto as easy as they can tie their shoes, you will see more purchases. Also remember the average business fee per transaction is 2-6% for the merchant. This is a trickle down effect that effects everyone in the long run. Cryptocurrency will eliminate this and make it more efficient for the consumer.

And these fees depend from the type of the business accepting the payment (online/offline/products offered). Not to mention one important element, which in general can speed up the business relations - even within one country a wire transfer payment for your business partner can be booked on account on the next day (if you have accounts in two different banks) and order to be processed after 2 days.
In comparison, with cryptos it can be almost instant, so then the product can be shipped easily within the same day.

[veleten]

well even if 1/10 of the micro businesses knew about bitcoin , this would have been  a great success
so far businesses do not utilize cryptocurrencies as much as I would like
simply because bitcoin is not a very convenient means of payment , the transaction speed is slow and it has some other bottlenecks , including legal grey areas
but the small merchants and businesses is what adoption is made of , if I can spend coins in my day to day life  and so do my neighbours and friends
this is going to do way more for bitcoin than articles, tv shows , magazine promotions or anything else
we are moving towards it slowly but surely , Lightning network is just one step towards it

[Eugenar]

well even if 1/10 of the micro businesses knew about bitcoin , this would have been  a great success
so far businesses do not utilize cryptocurrencies as much as I would like
simply because bitcoin is not a very convenient means of payment , the transaction speed is slow and it has some other bottlenecks , including legal grey areas
but the small merchants and businesses is what adoption is made of , if I can spend coins in my day to day life  and so do my neighbours and friends
this is going to do way more for bitcoin than articles, tv shows , magazine promotions or anything else
we are moving towards it slowly but surely , Lightning network is just one step towards it

I highly support it if this will be the case for bitcoin, but if we are concern about all cryptocurrencies, I highly doubt cryptocurrency as a whole doesn't have the capability to provide fast transaction and low fees. cryptocurrencies are built in a different way, and built suited for different purposes. When it comes to bitcoin, its highly purpose is to be an investment platform and a store of value, but for business to implement cryptocurrency, there is the ethereum blokchain - and basically they have the option to create their own token that could be the payment option mainly by their own company.

[Zionatin]

I am surprised and this is a large amount. about 30% of micro-businesses are willing to accept crypto. I think they need to broaden the search though and ask people from different places about it and more people too.
Otherwise, it might be skewed results. I like that there is so much support I just feel 30% is far too high. If it is 30% then why is that 30% not accepting crypto payments and if they are how many of them are.

[HardFacts]

I could try to pay with my wallet, and most of them would not even know what this is.

[xiboothrezi]

~

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

The important point here is that cryptocurrency is a new innovation, only a decade old. So that this ecosystem is not yet widely known, although it is widespread on the internet, but its scope is still not comprehensive. In addition, cryptocurrency is full of controversy, so ordinary people would prefer to avoid it. Another reason why only a few use cryptocurrency as a means of payment is that cryptocurrency is more effectively used as an investment and commodity trading tool, I think so. Instead of using cryptocurrency as a payment tool, I prefer to use it for investment or trade it directly on the exchange.

[Aurora Castro]

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

I guess you wanted to ask why the population does not know cryptocurrencies because most businesses are unaware according to the data.
They don't know because they don't care about improvements in this sector. When you're running a business you care about your revenue, your suppliers, your loan, but not about new types of payments. Most people know that you get paid with fiat money and that's it. They don't have time to do research.

If it was 67% of enterprises in Mexico probably nothing serious would happen. If it was 67% of businesses in the USA... Let's say that paying 100k for BTC would be getting it cheap.

Of course, there are many entrepreneurs who really do not have time to investigate or make a change of these for now. Well, this is not something simple, it takes dedication and study to understand it. Although there are companies that accept BTC as payment, they are very few. Perhaps because of the volatility that exists now it is not the best business, but I think many will want to implement this method in the future.

[milewilda]

I could try to pay with my wallet, and most of them would not even know what this is.
~~~

Stop trolling on showing up that wallet seed.Ive seen you on other thread as well asking out on how to secure a seed but you basically showing your wallet phrases.
Be at least be on topic when you do join up discussions yet its normal for those merchants not to know on whats the image is all about if they don't have
even the basic info on whats crypto.So its a normal reaction- if you have really tried to ask or just an imaginary thing just to troll.

Adoption is still on the move and it isn't surprising for those numbers though.

[Kyraishi]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

The results are likely skewed.

If you asked the same survey question in a country like the US it is very likely that the results will be staggeringly different as the awareness of cryptos in general is much higher.

Plus, the statistics are positioned in a way to suggest this type of result.

So to answer your question, it is entirely possible and in fact, probable that the gap between countries in terms of adoption is still extremely large given the fact that there is a huge income and education gap between them.

[X-ray]

I really doubt this data. I've been through so many commercial website whether it is in my local or international and I figured out that most of the time it's website that sells digital product that usually accept bitcoin and not the usual commercial website like selling stuff for basic needs. Even worse I've rarely seen any website that is from Mexico and even right now bitcoin is not mainstream enough. So many people out there still has no idea about what it is.

[Shasha80]

Most micro businesses do not know cryptocurrency because of lack of access to knowledge about cryptocurrency. Indeed, it should
in order to create mass adoption in microbusinesses it is necessary to increase education about cryptocurrency. And what happens
if microbusinesses accepted bitcoin as payment methods is that technological advances will be increasingly rapid, especially digital
currency will become favorite payment. And eventually it will become cashless in the future.

[barabarian1]

of course because the number of people who understand and use cryptocurrency is very small compared to people who don't know about cryptocurrency. therefore if we want mass adoption to materialize soon we must always promote bitcoin and cryptocurrency to our relatives and friends. so that more and more people who understand and want to invest in cryptocurrency. but I am optimistic that more and more people are supporting and implementing the blockchain. it will increase the number of people who know cryptocurrency.

[Polar91]

of course because the number of people who understand and use cryptocurrency is very small compared to people who don't know about cryptocurrency. therefore if we want mass adoption to materialize soon we must always promote bitcoin and cryptocurrency to our relatives and friends. so that more and more people who understand and want to invest in cryptocurrency. but I am optimistic that more and more people are supporting and implementing the blockchain. it will increase the number of people who know cryptocurrency.

With this, different traditional marketing strategy vould be applied to increase adoption of cryoptocyrrency, I myswlf consider wearing shirts that has a bitcoin logo in it, to have mugs, glasses, items and merch that has bitcoin's image will definitely make bitcoin adoption better. Think of some famous brands we have right now, that happened because people can always see their projects everywhere because of paid advertisements. What more we can do if we advertise crypto for free.

[airdnasxela]

It's not necessary for small businesses to learn crypto. Different countries also have different views on cryptocurrency that's why this data could be a lot different from other countries. Small businesses were used to traditional system with fiat. If they don't really have the initiative to learn cryptocurrency, then don't expect that they will understand it. And in fact, small businesses only have small transactions from their customer and fiat is easier to use with small amount transactions than crypto.

[Wysi]

We need to first think about the reason why merchants and customers are not interested to use crypto as a real-life payment method ((those who are already aware of crypto just like us). I feel they are afraid of further confusion as well as losing out on their value if the market fluctuates as they cannot be dependent on a fluctuating currency to pay and receive their fixed payments. They might about stable coins but not other cryptos.

[chip1994]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

Actually, people who do business will often know about big issues like this but they mean they don't want to get caught up in this fraud game. Most businesses in Asian countries too, they know it but do not dare to touch it because they know the risk is very high.
we will hardly be able to convince many businesses to accept payments with crypto because it is not a stable currency, the prices of coins often fluctuate so exchange will be very inconvenient. That is the problem that coins are unable to do.

[lixer]

How can we actually expect micro businesses to know about cryptocurrencies? Even without any survey or research we can assume that mostly 60% of the local entrepreneurs might not be aware that even cryptocurrencies exist. They might perhaps have went through some post or stories roughly and it would have given the remaining ones some idea about what the cryptocurrencies actually are.

Micro businessman actually focus on the local product sales and promotions. They would not have time to look for any other earning platforms introduced by the cryptocurrencies. Also as long as I can think, most of the entrepreneurs would not accept accepting cryptocurrencies as a payment method in their store.

[Danne87]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

Actually, people who do business will often know about big issues like this but they mean they don't want to get caught up in this fraud game. Most businesses in Asian countries too, they know it but do not dare to touch it because they know the risk is very high.
we will hardly be able to convince many businesses to accept payments with crypto because it is not a stable currency, the prices of coins often fluctuate so exchange will be very inconvenient. That is the problem that coins are unable to do.

Of course, it will be especially dangerous for enterprises if the state sharply and at one point imposes bans. It will be a collapse

[msarro]

in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

There are reasons for this no and they are very much justified in saying NO. Merchants need fast system like visa that have high transaction rate while bitcoin transaction rate is only 7 per second. Price volatility is another reason and perhaps the primary one.

[Kevondo]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

Actually, people who do business will often know about big issues like this but they mean they don't want to get caught up in this fraud game. Most businesses in Asian countries too, they know it but do not dare to touch it because they know the risk is very high.
we will hardly be able to convince many businesses to accept payments with crypto because it is not a stable currency, the prices of coins often fluctuate so exchange will be very inconvenient. That is the problem that coins are unable to do.

Of course, it will be especially dangerous for enterprises if the state sharply and at one point imposes bans. It will be a collapse

I think risk is the part of every business, so traders should not use it as a factor for not accepting cryptocurrencies. For me people who call this business a fraud and are not ready to invest in it either have less knowledge about it or are wrongly introduce about it. If one only focuses on the risks and downfalls of it he will not find it interesting. Traders should also focus on the positive and benefit side of it.

[TedMosby]

32.9%? Wow it’s great. 1 out of 3 micro-entrepreneurs knew it.

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

1. I dont know.
2. 67.1% accept bitcoin, but will the customer pay with bitcoin? Will they spend their bitcoin, or just hodl it like nowadays. It won’t affect anything if the community just hodl their bitcoin and do nothing about it.
3. Of course, there will be my country, Indonesia. LOL. However, We are on transition from fiat to cashless payment with digital currency (centralized digital wallet). Thanks to Gojek, they provide many service (most of them are daily needs) that can be paid with digital currency. It will be a good step of introduction to educate people about internet money.

[Danne87]

In Mexico, the UENI research firm conducted a study, in a field composed of 1287 Mexican microentrepreneurs, that is: supermarkets, restaurants, clothing sales, accessories, among others. In which it was concluded that 67.1% of respondents were unaware of the world of cryptocurrencies. The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

https://www.criptonoticias.com/negocios/67pc-pequenas-empresas-mexico-desconoce-bitcoin-criptomonedas/

What you think?
-Why does the population know cryptocurrencies?
-What would happen if at least 67.1% of microenterprises accepted Bitcoin as payment methods?
-Could it be that there are more countries like Mexico in which the population does not know or fear this new technology?

Actually, people who do business will often know about big issues like this but they mean they don't want to get caught up in this fraud game. Most businesses in Asian countries too, they know it but do not dare to touch it because they know the risk is very high.
we will hardly be able to convince many businesses to accept payments with crypto because it is not a stable currency, the prices of coins often fluctuate so exchange will be very inconvenient. That is the problem that coins are unable to do.

Of course, it will be especially dangerous for enterprises if the state sharply and at one point imposes bans. It will be a collapse

I think risk is the part of every business, so traders should not use it as a factor for not accepting cryptocurrencies. For me people who call this business a fraud and are not ready to invest in it either have less knowledge about it or are wrongly introduce about it. If one only focuses on the risks and downfalls of it he will not find it interesting. Traders should also focus on the positive and benefit side of it.

I agree. But people are afraid and for good reason. Or, for example, the law directly forbids them

[Astvile]

I'm pretty sure they must have heard about cryptocurrency before it is just that they don't really paid attention and study it that's why they are saying they don't know it.
But it is still a good thing that even though it is just 32% who actually knows cryptocurrency if you're gonna put them to a perspective that's a lot of businessmen that knows and half of them are willing to use it as a payment method which is a really good thing because they are ready to adopt and accept cryptocurrency totally which will lead to more micro-entrepreneurs to accept crypto too.

[MRrey]

More than 67,1% of micro businesses don't know whit cryptocurrency because many countries not legal using bitcoin as payment transaction, if many countries have accepted bitcoin as legal transaction many micro business will know with cryptocurrency and most likely using bitcoin and altcoin as payment transaction than using fiat currency or cash money.

[gundala]

I'm pretty sure they must have heard about cryptocurrency before it is just that they don't really paid attention and study it that's why they are saying they don't know it.
But it is still a good thing that even though it is just 32% who actually knows cryptocurrency if you're gonna put them to a perspective that's a lot of businessmen that knows and half of them are willing to use it as a payment method which is a really good thing because they are ready to adopt and accept cryptocurrency totally which will lead to more micro-entrepreneurs to accept crypto too.

That's right, we also have to pay attention to its functionality and effectiveness. Most people would consider using fiat more effective and practical as an instant payment, especially for micro needs. I also salute to companies and businesses that open and accept cryptocurrency as an alternative payment, this is a form of financial evolution. Although it has not been maximally used, one day it will definitely be a better change for the convenience of all.

[vintages]

The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

Their answer is "no" untill people have a demand for paying with crypto

We don't have to wait till when there is a demand for that before using crypto as a payment method.
It's not like there is a general rules preventing it, its just lack of low adoption.
If we see crypto as money, it becomes so.

[TastyChillySauce00]

The remaining 32.9% who said they knew the concept of cryptocurrencies, were asked another question, in which they were asked, if they would be willing to accept cryptocurrencies as a method of payment? and the result was that 50.4% of respondents he said no .

Their answer is "no" untill people have a demand for paying with crypto

Actually if the way to implement cryptocurrencies as payment method into their business is simplified to the point it's as easy as receiving cash they certainly would. There's no harm in accepting cryptocurrency and you could benefit to cover a wider customers target. Even there are some services out there that are taking advantage of the fact that they are accepting cryptos and use it for marketing purpose.

[yulionoo]

I think not only in Mexico, almost all countries that accept bitcoin. the number of companies that are willing to accept bitcoin as a means of payment is very small because there are still many who do not understand cryptocurrency. and in my opinion the biggest obstacle why bitcoin cannot be accepted as a means of payment is because its value is very volatile.

[huige007]

I think not only in Mexico, almost all countries that accept bitcoin. the number of companies that are willing to accept bitcoin as a means of payment is very small because there are still many who do not understand cryptocurrency. and in my opinion the biggest obstacle why bitcoin cannot be accepted as a means of payment is because its value is very volatile.

The reason why it is not accepted by many is not volatile, it is because it is not supported by the government as many countries has put a ban on it. It is also because many people are not aware of it, once people get to know about this they will start using it and will be accepted be many also.

[joinfree]

That's the mistake we as crypto enthusiasts make, we tend to think that people have gotten to know about cryptocurrencies and what they are but i must be honest with you i had this friend who is a university graduate yet does not know a single thing about bitcoin or cryptocurrencies. So i am not surprised with this analysis made, we really need to expose cryptos more and make them understand its use only then do we stand a chance of letting them integrate cryptocurrencies as a mode of payment.

[X-ray]

The reason why it is not accepted by many is not volatile, it is because it is not supported by the government as many countries has put a ban on it. It is also because many people are not aware of it, once people get to know about this they will start using it and will be accepted be many also.

That's right. there are slight worries of accepting crypto as payment because it could possibly get them to trouble if the country is rather against crypto or even worse prohibit it. Micro business doesn't have the resource for such inconvenience and is really fragile. Even if 100% of micro business know or educated about crypto there are chances majority of them still hesitant to use it.

[secone]

of course some micro bussiness didn't use other currency, and sometimes didn't use bank payment.
we must starting it, try to ask about bitcoin payment to buy in his store.
in fact chinese is the best crypto support for small business in dec 2019 bank of chinese issues 2.8B to small bussines use blockchain tech
https://www.coindesk.com/bank-of-china-issues-2-8b-in-bonds-for-small-businesses-using-blockchain-tech

[Aurora Castro]

I'm pretty sure they must have heard about cryptocurrency before it is just that they don't really paid attention and study it that's why they are saying they don't know it.
But it is still a good thing that even though it is just 32% who actually knows cryptocurrency if you're gonna put them to a perspective that's a lot of businessmen that knows and half of them are willing to use it as a payment method which is a really good thing because they are ready to adopt and accept cryptocurrency totally which will lead to more micro-entrepreneurs to accept crypto too.

That's right, we also have to pay attention to its functionality and effectiveness. Most people would consider using fiat more effective and practical as an instant payment, especially for micro needs. I also salute to companies and businesses that open and accept cryptocurrency as an alternative payment, this is a form of financial evolution. Although it has not been maximally used, one day it will definitely be a better change for the convenience of all.

I agree, although many people see this as something dangerous due to the volatility of the crypts. I think it could be done, and that would incentivize the community. Maybe it's not the time yet. But I think these are options that should not be completely ruled out. Since it would cause an evolution at a financial level.

[dothebeats]

Saying that 67.8% of micro-businesses don't know about bitcoin without mentioning that the sampled survey is only in a single country means that this study is somewhat flawed or the article is click-baiting. While the number seem to be so high at first, it's worth mentioning that people still know something about bitcoin, and it's enough for a start. Businesses shouldn't take immediate risks without fully assessing their moves, hence it's just their heads working when they don't accept bitcoin immediately. Besides, bitcoin cannot cover operating costs and supplies at all times, and for most of these transactions, cash is still king.

Recognizing bitcoin and crypto exists is already a good start. Accepting and integrating it within these businesses is far better, but do consider that these are businesses that needs to thrive and make profit.

[Savemore]

It is expected because we are still in introduction cycle, many micro businesses are not yet have knowledge sbout the new mode of payment system which are the cryptocurrencies specially bitcoin, introducing other people to adopt bitcoin is not easy as you think. It need more a lot of years before the micro businesses to adopt bitcoin as new mode of payment.

[Danne87]

It is expected because we are still in introduction cycle, many micro businesses are not yet have knowledge sbout the new mode of payment system which are the cryptocurrencies specially bitcoin, introducing other people to adopt bitcoin is not easy as you think. It need more a lot of years before the micro businesses to adopt bitcoin as new mode of payment.

Though it has created in 2009 and has passed many stages of its development. But it is still in its early period of development. Every new innovation takes time to be known and accepted by the people. Bitcoin’s present strong value gives the guarantee of its successful future. Its publicity among people is very important so that people get to know about it. Small businessmen still do not have knowledge due to governments restrictions.

True. this technology still needs a lot of time and policy changes so that we can see it everywhere