Topic: How reliable is crypto payment? (Read 366 times)
Payments made with crypto can be applied even though they are not stable coins, but will only be correct if converted immediately and also, the developer can enter the deposit feature with cryptocurrency which basically all must be made immediately converted so the use of crypto as a means of payment and or other transactions can still be applied even if it is not a stable coin, because the most important thing is that crypto can be spent whether it has to be converted first or not.
We are a age where everyone is getting digital. Everything is getting digital. People are adopting digital payment methods, However people are not much aware of cryptos but I think it has a good future as we have many +points in crypto.
Some people are trying to copy all the features of crypto with some payment apps (I noticed many similarity in many payment apps) but anonymity can only be provided by crypto.
TEX-LXRY
Some people are trying to copy all the features of crypto with some payment apps (I noticed many similarity in many payment apps) but anonymity can only be provided by crypto.
TEX-LXRY
Stable coins are often seen as a defence against volatiliy, but volatility has the trend to atenuate in time, as the market expands and the coin get's more distributed, so in time the part of stable coins will not be so important ...
doing/receiving crypto payments in daily life will have so many adavantages against fiat that it will be adopted widely
doing/receiving crypto payments in daily life will have so many adavantages against fiat that it will be adopted widely
I think for the crypto payment system in the future, it might be more suitable only with stable coins, as we know that stable coins only move with fixed prices different from very significant altcoin, stable coins are almost not much different from the dollar.
There was bews some time ago that such retail giants like Amazon and EBay will start to accept payments in cryptocurrencies, but the main problem is crypto`s price instability so it`s very difficult to use cryptocurrency as payment method, only few markets accept it and I can`t predict when situation will change
I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.
What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
I think to adopt payments using crypto, stable coins are more appropriate than crypto in general. Because this will give a real value at each item price, there is no change in prices in seconds.
Maybe all of us here have used crypto as payment so we can't say it's not reliable. Am I right? We need to let others know how much cryptocurrency can do when it comes to online transactions so that more people can know and understand how it really works. We can also demand them to accept or pay using crypto instead of fiat so they can try. They will have no idea if they can't see it themselves or try it on their own.
I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.
What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
Stable coins can be a way for the shops to cash out their daily sales and then they can sell those stable coins at the end of the month for USD or in their local currency.What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
But they can easily be fooled by people with fake transactions if the shopkeeper don't know a thing about digital currencies so educating them will be a big problem as accepting cryptocurrencies isn't like accepting payments through POS terminal and also not easy like accepting cards or in digital wallets.
In terms of technology, cryptocurrency was already a part of innovations nowadays. Just like we have in my country, we have an exchange where they are already accepted Bitcoin, XRP, Bch and ETH were it was very reliable and I've been using it for couple of years now even up to the present still useful and safe as well.
I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.
What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
indeed, from the first the main problem was about crypto volatility which would indeed be difficult to use for payment. so, between traders and buyers it is necessary to convert precisely the price of the goods and the value of the crypto itself so that changes in the price of crypto do not affect the price of buying or selling goods. I mean, every trader and buyer must always pay attention to the price chart, and always make it the same. if there is already an automatic conversion application, it will definitely be easier. What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
In my experience I have seen very little business use of cryptocurrencies. Even bitcoin is having hard time being accepted in many establishments. I did noticed though that it is widely being accepted as a way to donate to individual entrepreneurs, small entreps and the creators of content on many platforms. I still believe that the best use of cryptocurrency is through the remittance of digital money through the internet anywhere in the world. They should concentrate on that aspect and I think cryptocurrencies might have a chance.
Some platforms were being popular to be a payment system and I should remind you there are some like tron, iota, and many more. The majority of people consider token as an investment rather than become a payment system. Coin is different with token.
some projects have begun to make their blockchain by making their coins on their networks. It all depends on their roadmap to launch their coins. better management and will be very functional support of their platform. Until now not too many people use it for payment instruments.
Many people are confused about using crypto as payment because of its volatility but it's also very possible, the merchants must understand how crypto works, once they accept payments in crypto they can switch them to stable coin in seconds, merchants should accept well recognized coins that have good volumes only and also mix with few stable coins
Many merchants are hesitant to use cryptocurrency for payment options, the main reason being that the price of cryptocurrency is volatile.
But in my opinion the real reason is that many merchants assume that cryptocurrency users are still small, so they don't need to accept it yet
cryptocurrency as payment. Because if the reason is because of volatile prices, it is not possible. Because there are many ways to overcome
volatile crypto prices. Like using a third party or with an application that directly changes to fiat or stablecoins.
But in my opinion the real reason is that many merchants assume that cryptocurrency users are still small, so they don't need to accept it yet
cryptocurrency as payment. Because if the reason is because of volatile prices, it is not possible. Because there are many ways to overcome
volatile crypto prices. Like using a third party or with an application that directly changes to fiat or stablecoins.
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We can boldly say that, the world has been doing the right thing with cryptocurrency but, many merchants haven't understand the techniques around the digital payment methods. Due to cryptocurrency volatility, many of these merchants have been afraid of this payment methods, though bitpay has Solved some partial aspects of the volatility but not in totality. Frankly speaking, cryptocurrency payment adoption has not been growing because of fear in the minds of those merchants. The payment would have be reliable if the volatility was minimal in nature.
plus, I have a thought that cryptocurrency is more popular as an investment asset than as a means of payment. I hope that in the future there will be important events that will open people's awareness about cryptocurrency and its technology.
You see this issue about using crypto for payment is platform related, that is, where some platforms will like to use stablecoins such as Tether, there are others who see it fit using other crypto such as Bitcoin, I have seen this most times in gaming or betting platforms. So I am of the opinion that, each crypto platform uses what they want and believes in. The same Tether which might be thought to be the future of crypto payment, is the same which is doubted by many people owing to the many unpleasant news about them, coupled with centralization.
I never saw any merchants allowing the payment through USDT or any stablecoins, or maybe that's just me.
Bitcoin's being adopted by some numbers of merchants even though it is unstable so I believe that some non-stable altcoins would surely be adopted like for one ETH, that I read in this article : https://cryptonews.com/guides/who-accepts-ethereum.htm
Bitcoin's being adopted by some numbers of merchants even though it is unstable so I believe that some non-stable altcoins would surely be adopted like for one ETH, that I read in this article : https://cryptonews.com/guides/who-accepts-ethereum.htm
We can boldly say that, the world has been doing the right thing with cryptocurrency but, many merchants haven't understand the techniques around the digital payment methods. Due to cryptocurrency volatility, many of these merchants have been afraid of this payment methods, though bitpay has Solved some partial aspects of the volatility but not in totality. Frankly speaking, cryptocurrency payment adoption has not been growing because of fear in the minds of those merchants. The payment would have be reliable if the volatility was minimal in nature.
plus, I have a thought that cryptocurrency is more popular as an investment asset than as a means of payment. I hope that in the future there will be important events that will open people's awareness about cryptocurrency and its technology.
Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the Bitcoin blockchain is used to track digital currency transactions, the Ethereum blockchain focuses on running the programming code of any decentralised application.
BASID aims to drive crypto payment at the forefront of online payments. They introduce a payment gateway service that provides a secure, convenient, and reliable cryptocurrency payment solution for merchants and customers worldwide.
BASID aims to drive crypto payment at the forefront of online payments. They introduce a payment gateway service that provides a secure, convenient, and reliable cryptocurrency payment solution for merchants and customers worldwide.
I thought about the use of cryptocurrency by merchants for day to day trade settlement. When combined with fiat, it gives customers a lot of options and flexibility to chose how they transact. On the flip side, I am also thinking that crypto volatility could poss a lot of dangers and issues when adopting crypto for payment.
What do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
The world has switched to digital, including in terms of payment or transaction. Cryptocurrency is still fluctuating in price, but as an alternative payment and investment, I think cryptocurrency will continue to grow both in terms of technology and priceWhat do you think about the future of cryptocurrency payment, will conventional altcoin (non-stablecoins) have a chance or the race will solely be won by stablecoins?
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