them as a means of payment. These cryptocurrency paymentsare not yet considered traditional payments. You will probably need paymentprocessing software that accepts the digital currencies most used by yourcustomers. According to the Quebec users surveyed, the most popular virtualcurrencies are: Bitcoin (80%) Ethereum (50%) Dogecoin (23%) Cardano (22%)Litecoin (20%) However, SMEs should be wary of the fad effect that affects someof these cryptocurrencies.
the introduction of Bitcoin to the market in 2009 , theirmainstream adoption remains relatively Phone Number List new. The majority of respondents basedin Quebec are recent users: 30% of them have been using one or more virtualcurrencies for 6 months to a year, and the same proportion (30%) has purchasedor used one. or cryptocurrency(s) in the last 6 months. graphic illustratingcryptocurrency usage trends among Canadian users Tip for SMEs : Although theappeal of digital currencies is undeniable for the financial sector, they aregenerally decentralized and not subject to any government regulation. Theirvalue is derived from supply, demand and speculation. The growth and decline oftheir value makes them volatile investments . Businesses could thereforebenefit from
financial risk management software to assess the risksassociated with investments made using cryptocurrencies. What motivates usersto invest in cryptocurrencies? If you're wondering why trends are growing soquickly, you might be interested in the answers to our survey. Understandingthe motivations of investors in digital currencies could well help companiesconvert them into repeat customers. According to our survey, most Canadiancryptocurrency users (58%) seem to want to generate profits above all. However,nearly 48% also value being part of an innovative and alternative movement,which may reflect their values as buyers. reasons why Canadians invest incryptocurrencies As for the method used to make these investments, 82% of
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