{"id":12501,"date":"2021-09-24T22:54:16","date_gmt":"2021-09-24T22:54:16","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/small-business-owners-study-says-los-angeles-ranks-the-most-crypto-friendly-city-in-the-us\/"},"modified":"2021-09-24T22:54:16","modified_gmt":"2021-09-24T22:54:16","slug":"small-business-owners-study-says-los-angeles-ranks-the-most-crypto-friendly-city-in-the-us","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/small-business-owners-study-says-los-angeles-ranks-the-most-crypto-friendly-city-in-the-us\/","title":{"rendered":"Small Business Owners Study Says Los Angeles Ranks the Most Crypto-Friendly City in the US"},"content":{"rendered":"

A recent study conducted by the online invoicing company that works with small businesses Skynova explains that the city of Los Angeles (LA) is the \u201cmost crypto-friendly city in the United States.\u201d Skynova surveyed close to 600 small business owners and top-level executives from the U.S. in order to get their perception of the cryptocurrency ecosystem.<\/strong><\/p>\n

LA Ranks the Most-Friendly Crypto City in Recent Small Business Owners Study<\/h2>\n

According to a research study<\/a> which leveraged nearly 600 executives and small business owners, LA ranks #1 when it comes to crypto ATMs, and merchant acceptance. The Skynova<\/a> study called \u201cAccepting Bitcoin,\u201d that attempts to determine the most bitcoin-friendly cities in America today. \u201c32% of small businesses owners and top-level executives said that their business currently accepts cryptocurrencies,\u201d the Skynova researchers detail. Moreover, bitcoin (BTC<\/a>), bitcoin cash (BCH<\/a>), and ethereum (ETH<\/a>) are \u201cthe most commonly accepted cryptocurrencies.\u201d<\/p>\n

\u201cLos Angeles was the top-ranking city for all three factors of this study: crypto-ATMS, the number of restaurants that accept crypto, and the number of local retailers that accept crypto,\u201d Skynova\u2019s study says. \u201cGenerally, businesses that accept bitcoin as payment tend to be located on the coast.\u201d The researchers further added:<\/p>\n

Chicago was also a standout city for bitcoin business. The city ranked second for ATMs and second for bitcoin-accepting restaurants. Illinois has been making intense pushes to become the epicenter of cryptocurrency, while the state is home to one of the largest Bitcoin mining facilities in the Midwest.<\/p>\n

Primary Reason Why Surveyed Respondents Resist Crypto: Volatility<\/h2>\n

Other key facts from the survey had shown close to half of the participants don\u2019t accept crypto and do not plan to in the future. \u201c1 out of 4 small businesses owners and top-level executives that do not accept cryptocurrencies would like to do so, but their companies do not have the knowledge on how to do so,\u201d the survey notes. This particular section of the survey utilized \u201c584 small-business owners and managers about their perception of accepting cryptocurrencies.\u201d<\/p>\n

In another part of the study in order to figure out the most accepted crypto-asset, 183 small-business owners and 401 top-level managers chose BTC<\/a>, BCH<\/a>, ETH<\/a>, LTC<\/a>, and BNB<\/a>. BTC<\/a>\u2019s percentage among the surveyed was 58%, BCH<\/a> 36%, ETH<\/a> 35%, LTC<\/a> 28%, and BNB<\/a>\u2019s stats were around 28%. \u201cThe primary reason businesses reported still resisting cryptocurrency is the volatility of the market,\u201d the Skynova survey explains. \u201cMany financial experts say volatility is crypto\u2019s only certainty. Another 45% felt it was just too risky for their businesses to accept crypto.\u201d The Skynova researchers\u2019 study further adds:<\/p>\n

Just over a third admitted that they didn\u2019t know enough about it yet. Not everything that they did know was positive, however: 17% disliked that it was harming the environment, while 16% feared the implications of every transaction being public. When all is said and done, most business owners seemed to be warming up to the idea.<\/p>\n

What do you think about Skynova\u2019s survey concerning the friendliest U.S. cities for crypto assets and the poll\u2019s other findings? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, 600 respondents, BCH, bnb, BTC, Chicago, Crypto, crypto assets, Crypto ATMs, ETH, Illinois, LA, Los Angeles, LTC, Midwest, Skynova, Skynova Survey, Small Businesses, Surveyed Respondents, US crypto acceptance, volatility<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent study conducted by the online invoicing company that works with small businesses Skynova explains that the city of Los Angeles (LA) is the \u201cmost crypto-friendly city in the United States.\u201d Skynova surveyed close to 600 small business owners and top-level executives from the U.S. in order to get their perception of the cryptocurrency…<\/p>\n","protected":false},"author":0,"featured_media":12502,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12501"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12501"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12502"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}