Topic: How Practical is Bitcoin As Payment Service? - page 9. (Read 2757 times)
Not very, as online is the only place you can buy stuff with it. I am yet to see an irl merchant that accepts Bitcoin payments. And the tech seems a bit slow, will definitely need some more honing to be commercial-grade ready.
Bitcoin is still treated as an asset more than a payment method or a currency by the majority of the BTC community, in my opinion. However it is still used as a currency sometimes and there are many marketplaces online, including the one of this forum, supporting BTC as a payment method. But I think most people prefer to hold their coins and paying with fiat money instead of BTC and cryptocurrencies.
they can work on him if that is not practical. but future is in blockchain, he will understand soon.
It's very practical. Especially if you're looking to pay someone overseas, it is the most convenient form of payment that you are able to find. In that regard, bitcoin really serves well as a medium of exchange globally, which is something that fiat does not have.
You can pretty much buy anything you need with bitcoin, without having to convert it back into fiat at this point. There are obviously also services where you are able to buy anything you want that accepts credit cards using bitcoin.
Just keep in mind though that merchant adoption is nowhere nearing its peak at the moment, there is still a long way to go before we can see individual merchants accept bitcoin directly. Right now, this is done mainly through the use of payment processors such as Bitpay which in the future we may see less of as adoption grows.
You can pretty much buy anything you need with bitcoin, without having to convert it back into fiat at this point. There are obviously also services where you are able to buy anything you want that accepts credit cards using bitcoin.
Just keep in mind though that merchant adoption is nowhere nearing its peak at the moment, there is still a long way to go before we can see individual merchants accept bitcoin directly. Right now, this is done mainly through the use of payment processors such as Bitpay which in the future we may see less of as adoption grows.
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?
Unfortunately bitpay becomes a bad experience for people who use third party wallets or online wallets. Their payments are made through special links which are not supported by most of the wallets.How much you can spend using bitcoin depends on you. But you should be asking how many people out there are accepting bitcoin/cryptocurrencies as payments. The answer is actually very few. Price instability is one the reasons why they are not willing to accept crypto currencies. Just look at steam. They used to accept bitcoin and now they don't.
Truly speaking it is not practical to pay via bitcoin because I am not being paid by my employer in bitcoin. If I want to pay via bitcoin; I have to first purchase bitcoin and so I will have to pay some charges for purchasing and paying bitcoin.
Under such circumstances I will be shopping by paying / using my debit / credit card which is to some extant free of charge in my country. But now I am working in bitcoin bounties; so as a reward I will be getting certain coins; which I may convert to bitcoin. Then it will be easier for me to pay via bitcoin.
Under such circumstances I will be shopping by paying / using my debit / credit card which is to some extant free of charge in my country. But now I am working in bitcoin bounties; so as a reward I will be getting certain coins; which I may convert to bitcoin. Then it will be easier for me to pay via bitcoin.
If you want to get service by using bitcoin as payment you have go and make transaction on country have allowed and legal bitcoin transaction. My country is not unvelaible for using bitcoin as payment and trasaction, you can go to United State and buy something there by using bitcoin payment, or you can go to asian country like Japan and Korean Repulic and you can using bitcoin payment. Only country was allowed bitcoin you can take service by using bitcoin payment.
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.
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.
Yea brother, but don't forget that without this third party intervention doing batter with a crypto will be practically impossible. Remember, banks serve as third (regulating) party to fiat currencies. So I suggest that we just have to make do with the system just as it is.
well in my country whenever I want to use btc for a payment I have to search the seller from online which is a private seller not a company, some of the private sellers accept btc here.
There is no doubt that bitcoin and cryptos for this matter, are gradually evolving to become a mainstream payment service. The challenges are there alright, but I am very upbeat that in no time these will be dealt with just like in the days when fiat money first came into being. Crypto has come to stay and kudos to Satoshi for this awesome invention.
as a merchant you get the security that you will not lose your money anymore because the customer charged back and you lose your money because those payment processors are flawed. but when using bitcoin there is no charge back.
as a customer you don't have to also reveal your identity each time you want to make a tiny purchase. you keep your privacy. and also you never need a third party in the middle to handle your money, you do that all by yourself. this means you can transfer money at any time anywhere in the world and pay a tiny fee!
as a customer you don't have to also reveal your identity each time you want to make a tiny purchase. you keep your privacy. and also you never need a third party in the middle to handle your money, you do that all by yourself. this means you can transfer money at any time anywhere in the world and pay a tiny fee!
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?
sometimes, a service will announce what payment they receive. well, if they accept bitcoin, of course there will be a nominal listed there, but if it's in dollar form, you just have to pay it using bitcoin according to dollar price if they accept bitcoin.
In practical situation bitcoin as payment is not developed yet. A few number of country take bitcoin as payment. It's still now famous as for investment.
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?
Besides of being a decentralized and some other great features of Bitcoin you can pay those website that accepts Bitcoin, very much low fees compare to your local remittance centers and most importantly the much faster way of sending payment is the most convenient.
Bitcoin was primarily created as a decentralized payment and avoid the hassle of having a middleman that would govern the transaction. This a good scheme and actually paying BTC is already an accepted method in some countries. I think it is a more practical payment method only if it is accepted in more countries. Sad to say there are still many countries who do not accept BTC.
In my opinion bitcoin is more of a investment medium rather than a payment services of daily goods. But there are some online shops that actually accepts cryptocurrency which is a good sign . Bad thing considering the current market situation I fear any new shop would actually accept it as a payment services.
Bitcoin is a the fastest way to get paid in an instant. I am a developer and I work from a private web development company that pays via Bitcoin. I found it cool. The only pain in ass is the value of Bitcoin in USD. I wish to see Bitcoin under 6 digits.
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?
its not that practical for now because of the limited companies that accept it as payment, but in the near future crypto will be widely used by everyone
Bitcoin as a means of payment for service is already practical,a shopping mall in Nigerian uses Bitcoin for paying of goods..
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?
I think it would be more practical if you pay using your debit or credit card. Bitcoin as of now is much better if it's used as a store of value or an investment vehicle rather than purchasing online.
You can use bitcoin to purchase almost everything. It really depends on the vendor if it accepts crypto in exchange for their products and services.
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