Third of UK SMEs expect Bitcoin on the high street in two years

Recently we found out an interesting fact that we would like to share with you. Cryptocurrency payments will be a reality on the high street within two years, say SME owners, according to new research from card machine provider Paymentsense in the UK. This is quite an important study for our business, because MicroMoney issues loans for small business and we are working with both - crypto and fiat currencies.
As previously mentioned , over a third (35%) of SME owners expect cryptocurrency payments to become a reality on the high street within two years. Some small business owners are even more optimistic about its potential, with over a fifth (21%) predicting that cryptocurrency will start appearing on the high street within a year.
Right now one-in-ten small business owners said they already accept cryptocurrency payments (13%) - It’s not a lot. So, we can conclude that the study revealed hesitation amongst SMEs to take the plunge and start accepting the payment method.
On the other hand, a report claims that the recent volatility of Bitcoin doesn’t seem to have discouraged SME owners. They observe fluctuations of the cryptocurrency market very calmly. Almost six out of ten SMEs (59%) said they’d consider investing in BTC, with approaching a fifth of them (18%) already investing. Perhaps, as we hope, this suggests that SME understands the ideology of decentralization and self-value of cryptocurrency, not combing it with fiat, but giving it its original importance as a new phenomenon that could change , and is changing the financial system of the world.
On the internet you can find shops, entertainment venues and other services where you can pay in crypto. For instance , even in real bars - in Berlin , Moscow you can purchase a cocktail using crypto. Cryptocurrencies are a really exciting payment option.
The study also revealed that the variety of payment options have established a foothold amongst UK’s small businesses.
Almost half (46%) of SME owners questioned the possibility of accepting alternative currencies, with over a quarter (27%) involved in schemes such as the Bristol, Liverpool, Brixton and Lewes pound to encourage local spending. Other 15% said they accept national bartering schemes such as Bartercard, with 11% taking regional gift vouchers.
Guy Moreve, head of marketing at Paymentsense, said: “It’s clear that cryptocurrencies are moving swiftly towards the mainstream. However, small business owners considering cryptocurrency as a payment option should be clear about how they can integrate it with their existing financial arrangements. Will suppliers or staff accept it? Can they pay local and national government agencies with it?”
Mr Moreve also said that the value of unregulated cryptocurrency can fluctuate rapidly, which could have “significant implications” for a small business’s revenue security.
To sum up, we can say that such reports are good news for crypto market in general. If Britain will show its cooperation , many others in Europe will join the new economic path with it.
From our perspective , we can safely say that cryptocurrency already plays a big role in Asia, because a lot of people who are unbanked own e-wallets and they are not afraid to work for crypto. This is their way of joining the global financial system. MicroMoney aims to provide the best solution to individuals and SMEs to meet their financial needs. The behavior of our customers shows that there’s a high demand for micro-loans among individuals and SMEs who previously didn’t have access to financial services.
Mostly , now they prefer to get loans in fiat money, but we are ready for the time when they will ask for crypto. We can use our AMM tokens as a collateral . Blockchain transactions are transparent and secure. You only pay a small fee for transaction and no other extra fees. Also , all you need is your partner’s e-Wallet address, you don’t have to sign a lot of papers as everything is written in a smart contract. This can save time and money as well as help cross borders - because crypto money have a real value that depends on the demand and on how much real people think it should cost, government can’t speculate on it’s price.
Join the cryptosystem with us and contribute in a global change !

Commissioned research took place from January 17-21, 2018 amongst a nationally representative sample of 504 small business owners.