Lettuce Pay, a Stellar Community Fund grantee, surveyed 130 U.S. small business owners on cryptocurrency payment acceptance. Key findings: 30% have been asked to accept crypto, 75% would if it instantly settled to USD, and two-thirds believe crypto will become mainstream in five years. The company is building a product to let merchants accept crypto while dealing only with USD.
Lettuce Pay, a Stellar Community Fund grantee, surveyed 130 American small business owners about their willingness to accept cryptocurrency payments. Thirty percent have already been asked by customers to accept crypto, almost always Bitcoin. The critical finding: 75% would accept cryptocurrency if it immediately settled to USD, removing the volatility and settlement risk that currently deters adoption. About one-third of respondents have no reservations about accepting crypto; another third cite lack of knowledge as their main barrier. Small businesses see four key benefits: lower transaction fees, fraud reduction through irreversible payments, instant settlement, and access to new customers. Looking forward, two out of three business owners expect crypto to become widely accepted within five years. Lettuce Pay, backed by the survey results, is developing a new product to enable merchants to accept crypto while only handling USD.