How Practical is Bitcoin As Payment Service? - page 10.

Bulljcak

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Quote from: MattLeBlanc on June 26, 2018, 01:52:54 AM

There are many online businesses who accept cryptocurrencies, most of them accept Bitcoin as it is the most popular and widely used. But, I have seen some restaurants started accepting Bitcoin and other crypto as a payment recently.

In highly urbanized city and places,bitcoin is easily to use.Practically in the mode of payment.You dont have to go to bank or fall in a long line of ATM machines.

m.mendoza

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Quote from: MattLeBlanc on June 26, 2018, 01:52:54 AM

There are many online businesses who accept cryptocurrencies, most of them accept Bitcoin as it is the most popular and widely used. But, I have seen some restaurants started accepting Bitcoin and other crypto as a payment recently.

Bitcoin payment is a practical because less hassle and far from any crime. The practical approach is when we can use the bitcoin in similar fashion as if we would use the fiat currency on daily basis. Thats my logic behind it.

dellmoon

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Well, these days many services accept Bitcoin as a method of payment. It also depends on which country you belong to, because many services are specific to some particular countries. Hope this helps.

alinalovedoogie

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It actually depends from one country to another regarding the practicality of bitcoins as a means of exchanges. So, if anyone is interested in using bitcoins as a means of exchange, we need to see if it is being used in our country or not. Normally people convert these into currencies for transactions.

maman09

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Quote from: cryptostream209 on June 26, 2018, 01:20:55 AM

i am new here and i came to ask fellow users about how practical bitcoin as payment method is? i paid for domain on namecheap via bitpay and it was okishh experience. I mean how much i can use bitcoin to pay online for shopping,services and goods?

the choice is not much, but maybe a few decades ahead there are many options and in using bitcoin as a means of payment transactions. some countries that receive bitcoin have made payments via bitcoin. but not for countries that prohibit it.

jannatakter

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I think this is totally practical and espesially in business.
But over all the payment is well.

Pearls Before Swine

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As long as it doesn't take too long for the minimum number of confirmations needed and as long as the blockchain fees are reasonable, bitcoin works just fine. I would still much rather use my debit card for online transactions because of those factors (which generally are problematic) and because I'm not concerned about anonymity or stealth.

One of the major advantages bitcoin has is that it's not tethered to banks or to any governments, but for normal transactions people aren't really concerned about that. I'd say bitcoin is actually less practical than fiat is, but that's not to say it doesn't have some advantages. You have to ask yourself whether it was easier to pay for your item using Bitpay than it would have been if you'd paid cash. That will answer your question for you.

Quote from: wantjokull on June 28, 2018, 01:57:29 AM

There is no way we are paying the payments directly from our preferred wallets which re supposed to be our banks for us and being controlled by us due to decentralised nature of it.

Plus the merchant isn't receiving bitcoin. They're getting fiat on their side. Bitpay just converts what the buyer sends into whatever local currency the merchant accepts.

wantjokull

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Lets face the reality guys. We still need third party invention to load the money, go for the purchase and then pay indirectly with the bitcoin currency. Thats the biggest drawback of it. There is no way we are paying the payments directly from our preferred wallets which re supposed to be our banks for us and being controlled by us due to decentralised nature of it.
The practical approach is when we can use the bitcoin in similar fashion as if we would use the fiat currency on daily basis. Thats my logic behind it.

millionaireshs

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Quote from: cryptostream209 on June 26, 2018, 01:20:55 AM

i am new here and i came to ask fellow users about how practical bitcoin as payment method is? i paid for domain on namecheap via bitpay and it was okishh experience. I mean how much i can use bitcoin to pay online for shopping,services and goods?

Sir your question how much spending bitcoin use to pay online or to other services? find the legit merchant that accredited bitcoin of course all prices you need to pay is absolutely stated their on where you can avail your items. be sure that before you proceed to transact for payment your wallet is fully protected.

xamxam

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Well, for me bitcoin as payment service is good because lots of store now accepting bitcoin, but i can observe that when we convert our bitcoin in our local money, it is too high the fees of it whereas we can say that the bitcoin is very expensive for the investors when they invest or buy bitcoin. But over all the payment is well.

Ankit Arora

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Bitcoin has become quite practical , especially in businesses. Payments are quite easier in bitcoin and now One can shop at Amazon with bitcoins , there are some discounts available too. If one is ordering something off the market and from another country , both the seller and the buyer prefers bitcoin as no information and sensitive data is being exchanged. Since the transaction fees is much lower than the credit cards and debit cards , all goes well and easily.

hassan2654

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You don't need to bother posting transactions of your bitcoin here. You can simply ask and say anything related to the crypto currency in the forum.

hassan2654

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YES I think this is totally practical and you can use bitcoin as payment option where it is accepted. However, in that case make sure that you have a well secured wallet for your cryptos

allen67

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In now bitcoin is worldwide popular. There are so many services are connect with bitcoin. You will get discount from Amazon when you use bitcoin transaction.

jseverson

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Quote from: cryptostream209 on June 26, 2018, 01:20:55 AM

i am new here and i came to ask fellow users about how practical bitcoin as payment method is? i paid for domain on namecheap via bitpay and it was okishh experience. I mean how much i can use bitcoin to pay online for shopping,services and goods?

Using Bitcoin for other things shouldn't differ much from your experience on using it to buy domains. Most merchants use payment processors like Bitpay anyway. If you thought that was practical enough, then it's probably practical for you.

But yeah, you can absolutely use Bitcoin exclusively for pretty much everything for as long as you find a good merchant that accepts it. It's probably not as practical as other traditional options for daily use, but I'd say it's definitely practical enough.

PeRo

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Defend Bitcoin and its PoW: bitcoincleanup.com

There are many services and shops that accept Bitcoin but it isn't popular enough, you have to do a bit of searching if you want to pay daily stuff or bills and similar with Bitcoin. I don't think that the fees are high right now, at least not when paying once with a larger amount of money, of course it is expensive if you split payments in smaller parts. I only bought games with my Bitcoin and it went well, but I don't know for physical stuff, I guess it's the same as cash.

Jacsnuffles

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I like Bitcoin but using it as a pasyment yo buy goods and stuffs would be difficlicult. One move of the price of BTC might cost you double or thrice the price of a specific item. Volatility is a big problem to this. Practicality will not be achieved.

cryptostream209

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Quote from: odolvlobo on June 26, 2018, 01:36:17 AM

There are various services that accept Bitcoin.

There is also Purse.io, which can be used to buy stuff from Amazon at a discount using Bitcoin.

My country don't have amazon but have other alternates but none of them support bitcoin but i have found many other global sites which can deliver same things i want with bitcoin but with higher price and shipping fees

mmo4me.2016

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You can easily integrate your payment method with Bitcoin payments! Currently, there are many web sites that support api functions so you can do that!
Only thing, bitcoin and altcoin prices are very volatile, if applied to commodity products you will probably have no profit or negative profit.

cryptostream209

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Quote from: moonami on June 26, 2018, 01:52:27 AM

Quote from: cryptostream209 on June 26, 2018, 01:20:55 AM

i am new here and i came to ask fellow users about how practical bitcoin as payment method is? i paid for domain on namecheap via bitpay and it was okishh experience. I mean how much i can use bitcoin to pay online for shopping,services and goods?

In my opinion, it is practical by means in paying on a site using bitcoins or transfer money thru bitcoin. I tried sending bitcoins on my friends as payment for a vpn that I purchased. but it its not good for purchasing goods and foods.

I find it difficult to pay through bitpay for namecheap domains and transaction fee are too high.

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