BTC Adoption in El Salvador is far below expectation says survey report.
El Salvador registered their name in history by becoming the first country which adopted BTC as a legal tender. Prediction of adoption of BTC was high but recent survey proved that Adoption of BTC is way below expectations.
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According to the latest survey conducted by chamber of commerce it is revealed that majority of companies didn't use BTC transaction for their business. Only 14% of the respondents use BTC transaction. Almost 91% of the respondent said that BTC adoption has created little impact on their sale.
Majority of the surveyed companies about 71% were small companies, 16% were large companies and 13% companies were medium size companies.
It is strange that BTC failed to get massive adoption despite President massive incentive on adopting BTC. Maybe dip in BTC worth and high volatility of the assets are the few reason which refrain companies to adopt BTC.
Experience of BTC is only six months old. It's small time to judge. Let's see if the coin gets massive adoption in business. Massive adoption will definitely open new ways and other country may follow this model. What is your opinion my friends?
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I believe is a gradual process and sooner or later they will accept to use it and also know the positive impact as well.
This is acceptable. It's takes resources and effort for people to adapt to Bitcoin. What you are used to, literally you are forced with this crypto it's difficult. It's slow progress !
It is strange that BTC failed to get massive adoption despite President massive incentive on adopting BTC. Maybe dip in BTC worth and high volatility of the assets are the few reason which refrain companies to adopt BTC — well , Rome wasn’t built in a day . The mass adoption of btc in El-Salvador could still be on the downward trend for now but I’m sure it won’t stay like this permanently. People are quick to observe what the market is saying particularly a volatile market like crypto before investing their money in it . Let’s all see how things unfold in the coming months .
Best Regards!!