Topic: Why aren't people utilising cryptocurrency payment methods? - page 6. (Read 920 times)
Mostly that's because of the lack of knowledge people will not use and trust anything they don't know especially if it's related to money however time after time people are getting more knowledge so they will use these methods instead of the fiat, and this will take some time and it's the same whenever a new payment method and technology comes up I expect to see more people are using these systems in a few years later very soon, also the cryptocurrencies should adopt and give more reliability to people for using them as a payment method.
Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.
The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.
Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.
Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
It is not just about people not using crypto payment but about the availability in your local community, crypto payment and acceptance is still very limited in most part of the world.
The options to pay with cryptocurrency is hardly there in 99% of local stores. In situations like this, your hands are tied coz there is hardly anything to do.
Aside from the fact that Bitcoin isn't really widely accepted as a form of payment, it could be that Bitcoin is worth saving than fiat, yes? Or that fiat is worth spending than Bitcoin. With inflation wreaking havoc on people's savings, it isn't surprising if people would find it much wiser to spend fiat than Bitcoin. And with fast devaluation of fiat, it isn't also surprising if people would look for a much better alternative in keeping their wealth. And Bitcoin seems to be a sound choice.
1. Regulation
What makes bitcoin and others unable to be used as a transaction tool at this time is government regulations that do not give permission to be used as a transaction tool for goods and services, so there is no legal umbrella for people to use them instead they will be subject to fines or violations of the law if use itThis you said is true for some people in different countries and not so for other people. Apart from the regulation drama of a thing, even if bitcoin is to be adopted nation wide, many people will also not use bitcoin. They prefer it as an investment asset instead of currency. That is the reason they keep hodling. It is clear that Satoshi initial idea or plans of bitcoin has been changed and it is expected that it could happen so since it is technology, it's ever changing.
In the community here, people receive praises for hodling bitcoin and also people receive praises for using bitcoin for purchases or payment for services. We don't actually know what we want I can say. So, however you want, do you bitcoin. The most important is that you know bitcoin and you are using it
Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.
If we narrow the scope to just the community [not about the wider community], then I don't think people will think crypto payments are a scam. There are regulations out there that prohibit people from using bitcoin or cryptocurrencies as legal tender, and you are expected not to violate them. You must submit to the jurisdiction of any country you visit which means bitcoin is still limited in adoption as legal tender in certain countries.Global adoption is something you can't expect to happen easily, it's not as easy as turning the palm of the hand because the government is eager to maintain its centralized financial system. Bitcoin would only be good as an alternative option, so you can't expect it to be adopted in all countries. As for the second reason is because some people just want to use it to make a profit from trading or investing regardless of adoption.
1. Regulation
What makes bitcoin and others unable to be used as a transaction tool at this time is government regulations that do not give permission to be used as a transaction tool for goods and services, so there is no legal umbrella for people to use them instead they will be subject to fines or violations of the law if use it 
1. Regulation
2. Volatility
3. Lack of awareness
4. Still observing
These are the things on why we arent seeing about full integration of crypto payments into most businesses which is indeed a fact.
We do see the advantages but we arent that blind on not to notice about the con's and this is where most business owners do really mind off
or really been concern of.
2. Volatility
3. Lack of awareness
4. Still observing
These are the things on why we arent seeing about full integration of crypto payments into most businesses which is indeed a fact.
We do see the advantages but we arent that blind on not to notice about the con's and this is where most business owners do really mind off
or really been concern of.
let us not forget that most crypto holders are holding for the mere thought of possible high gains in the future. this is why some holders are not keen on spending it with their everyday expenses. as much as possible, they are holding it as investments and not for payment purposes. also, the availability of merchants accepting crypto is still a common bottleneck for some crypto users who are ready to spend some of their satoshis.
Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.
The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.
Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
We will get there soon, just waiting for everyone to finally get interest in bitcoin and other cryptos and start to own them. For the meantime, while bitcoin is still giving us good opportunities to earn and gain, then what’s the use of spending them. If we are looking forward to make profits, spending it and using it to pay for our needs is not necessary when we can use fiat as payment and save bitcoin for future gains. The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.
Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
2. Volatility
3. Lack of awareness
4. Still observing
These are the things on why we arent seeing about full integration of crypto payments into most businesses which is indeed a fact.
We do see the advantages but we arent that blind on not to notice about the con's and this is where most business owners do really mind off
or really been concern of.
Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.
The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.
Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
We will get there soon, just waiting for everyone to finally get interest in bitcoin and other cryptos and start to own them. For the meantime, while bitcoin is still giving us good opportunities to earn and gain, then what’s the use of spending them. If we are looking forward to make profits, spending it and using it to pay for our needs is not necessary when we can use fiat as payment and save bitcoin for future gains. The crypto payment industry is continually growing. Nonetheless, recognition is not at the top of the list. As is customary, there are Bitcoin maximalists who refuse to spend their cryptocurrency on things.
Some people, however, are taking advantage of the cashback chances offered by cryptocurrencies and cryptocurrency cards. I realise that cryptocurrencies and blockchain are only a small portion of the public, but why are those who are currently interested not using bitcoin for payment?
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
Most people still not believe in Bitcoin or cryptocurrency and some consider this as their investment, that’s why many are still not utilizing its full potential and because of the significant rise in price of this market, many just want to hold their crypto until they made a good profit.
Payment methods with cryptocurrency is also risky for a small businesses because of its volatility, this has been the problem since then and many can’t sustain to accept crypto as mode of payment because of this.
Payment methods with cryptocurrency is also risky for a small businesses because of its volatility, this has been the problem since then and many can’t sustain to accept crypto as mode of payment because of this.
Most people are limited to using crypto currency for online purchases if businesses in their locality to take crypto for payment, and most businesses don't. It isn't convenient to hold crypto if you're aimlessly converting back and forth depending on how you have to spend your funds. The conversion fees get expensive, and in some jurisdictions you're required to pay taxes when you cash in your crypto.
I think the problem is somewhere else. If most people think crypto is a scam then there are still some people( This number is high) who believe in crypto.
Obviously.They will surely use crypto but right now there isn't much convenient way to use crypto as a payment method. Most business doesn't want to accept crypto because its price fluctuates very fast. Nobody wants to put their business at such risk.
Services such as BitPay already exist(where crypto automatically gets converted to fiat, removing risk of volatility), that mostly online service providers like VPNs and proxies use. There isn't much demand outside of this category simply because there isn't much demand. 
Because most people still think that bitcoin/crypto is a scam.
I think the problem is somewhere else. If most people think crypto is a scam then there are still some people( This number is high) who believe in crypto. They will surely use crypto but right now there isn't much convenient way to use crypto as a payment method. Most business doesn't want to accept crypto because its price fluctuates very fast. Nobody wants to put their business at such risk.
I think the number of people who are outside any cryptocurrency-related business is higher than the people who are crypto-oriented and educated and the people who have no idea believes that Bitcoin and other cryptocurrency is a scam and that has been their major reason why they still don't believe that making payments are easier with bitcoin than fiat. Secondly, the people who sees Bitcoin as a risky business are those who are yet to understand Bitcoin's volatile nature.
Because most people still think that bitcoin/crypto is a scam.
I think the problem is somewhere else. If most people think crypto is a scam then there are still some people( This number is high) who believe in crypto. They will surely use crypto but right now there isn't much convenient way to use crypto as a payment method. Most business doesn't want to accept crypto because its price fluctuates very fast. Nobody wants to put their business at such risk.
Infrastructural deficit is one of the challenges of utilizing Biitcoin payment services. Some areas in my locality don't have access to electricity or internet facilities to aid such transactions. In these places if you don't have fiat, you can't transact any form of business. People also see Bitcoin majorly as a form of investment rather than a legal tender. They prefer to use fiat in buying and paying for services while they HODL their Bitcoin hoping that the price would rise. Countries would attract more investors in the Bitcoin space if diverse restrictions placed on Bitcoin transactions are lifted.Then we can have a Bitcoin ATMs just life conventional bank ATMs.
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
Back to state regulations, today all countries say crypto can be used as a general sale/purchase transaction that is done by people like fiat and provides crypto services in all aspects, today you will see everyone will use crypto as a life goal.That's the problem, many governments do not support the presence of Bitcoin as a legal currency to spend, some governments only recognize it as an investment asset and risky, That's the reason people don't dare to use it as a payment method that is done in general.
Many other reasons, that's as my thought.
Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.
Even to say that many people rejected Bitcoin being a currency, I'm still thinking it was not a failure. People see its potential in the other way as an investment that seems to be more fit rather than a currency. I actually have no claim why and asking it because I know the reason already and that is the volatility of its price. Not all are able to lose a few cents but fortunately, many people can afford to take risks through investment where they can earn more. Adoption can be improved, it will just take time, not an instant.
I have seen multiple websites are starting to accept bitcoin payments. Heck, even Tesla did it at one point. But if you're referring to day to-day trades like buying a coffee, I don't think the bitcoin blockchain is even capable of handling that number of transactions. The lightning network does provide a workaround to this problem tho, so we'll see.
They're not familiar of it, remember the saying "You can't teach old dog new tricks." it's the same thing with this one, some people just can't fathom to let go of using traditional money in favor of cryptocurrency so they end up sticking to the old ways, don't worry though, I am not speaking for all of them and there will always be newer generations that's going to be more familiar than the old ones.
I work on the 80/20 principle, where 80% of all the coins that I buy are hoarded and 20$ of those coins are spend. I have a entertainment budget for movies/gambling/takeaways etc... for every month and some of that are converted into Bitcoin, so that I can pay for some of that in Bitcoin. (The movies does not accept Crypto currencies in my area) 
So, I do spend some of my coins.... and I tend to spend more.... when the price is much higher than usual.. because then I will get the best bang for my bucks.
So, I do spend some of my coins.... and I tend to spend more.... when the price is much higher than usual.. because then I will get the best bang for my bucks.
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