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.