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

[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.

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[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.