The City of Los Angeles is known for many things. It is the entertainment capital of the world that hosts Hollywood, where many films are made.

The second-largest city in the country after New York has added being the most-crypto-friendly city in the United City to its profile. This is according to a study by Skynova, an online operating company working with small businesses.

32% of Small Businesses in the United States Accept Cryptocurrencies: Skynova

Skynova ran a survey of 600 small business owners and top executives in the United States. The participants expressed their views on how they felt about the cryptocurrency ecosystem and incorporating it into their businesses.

The survey dubbed “Accepting Bitcoin” seeks to discover the cities that are embracing Bitcoin the most. Skynova’s study unveiled that 32% of small business owners and top-level executives accepted cryptocurrency payments. 

The city of Los Angeles topped in all three categories focused on the research. L.A. had the most cryptocurrency ATMs, the most restaurants that accept cryptocurrency, and the highest number of retailers that accepted cryptocurrency.

Apart from listing the City of Angels as the most crypto-friendly, Skynova’s study also sought to uncover the most accepted types of digital coins. For this, the survey used 183 small business owners and 401 top-level managers. 

From the study, 58% of the respondents accepted Bitcoin over other cryptocurrencies. Bitcoin Cash, Ethereum, Litecoin, and Binance Coin followed with an acceptance percentage of 36%, 35%, 28%, and 28% respectively.

Lack of Knowledge and Environmental Impact Holding Back Crypto Take Over

The businesses that do not accept cryptocurrencies cited a lack of knowledge about them. Skynova reported that 1 in 4 small business owners and top executives out of a sample of 584 did not know much about cryptocurrencies. 

Of those who knew about cryptocurrencies and chose not to accept them, 17% were against their effect on the environment while 16% quoted their skepticism on the universal impact of each transaction. 

Despite the negative reception in some businesses, it is safe to admit that cryptocurrencies have spread considerably, and the city of Los Angeles will be the one leading the world into a crypto revolution.

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