Topic: Why aren't people utilising cryptocurrency payment methods? - page 7. (Read 920 times)
Honestly, it's the community's fault. With the constant prospect of getting rich on the back of crypto, laser-eyed goblins talking about 100k or lows and highs, people still, for the most part, view crypto as a long-term investment than a payment method. It's always in the back of our heads, the notion that if you buy something for 100$ worth of BTC, in a year that could have been 500$ and then you basically fucked yourself over 400$. Not saying it's right, it's just how it is.
I used Bitcoin (and in one or two cases, Litecoin) in a few cases (less than 20 overall) to buy cheap IT services like hosting and domains, and in one case I also bought food from a local merchant.
From my perspective, in the countries I lived, Bitcoin can be used (if you really want) for a lot of expenses, but not always for everything. I think the main problem is that you develop buying habits, like going to a certain local grocery or so, and you don't live in a "crypto hub" like the central areas of some US and European cities, then you will have - very likely - to modify these habits if you want to pay with Bitcoin. You'll have to drive to a supermarket at the other end of the town, or have to choose from a handful of relatively expensive shops which do not really offer the products you want, etc..
The argument that your waste your "precious coins", instead, isn't that valid for me - once you're KYCed on an exchange you can always re-buy what you spent. If at least one of my preferred groceries/shops would accept Bitcoin, then I would certainly do that. Fees are currently also not a problem (at least if you buy more than a coffee, and Bitcoin isn't really for coffee ...) , and much less if your are willing to create a Lightning node.
From my perspective, in the countries I lived, Bitcoin can be used (if you really want) for a lot of expenses, but not always for everything. I think the main problem is that you develop buying habits, like going to a certain local grocery or so, and you don't live in a "crypto hub" like the central areas of some US and European cities, then you will have - very likely - to modify these habits if you want to pay with Bitcoin. You'll have to drive to a supermarket at the other end of the town, or have to choose from a handful of relatively expensive shops which do not really offer the products you want, etc..
The argument that your waste your "precious coins", instead, isn't that valid for me - once you're KYCed on an exchange you can always re-buy what you spent. If at least one of my preferred groceries/shops would accept Bitcoin, then I would certainly do that. Fees are currently also not a problem (at least if you buy more than a coffee, and Bitcoin isn't really for coffee ...) , and much less if your are willing to create a Lightning node.
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
I don't own a card yet and have no plans of getting one yet. I use crypto for my purchases online and good thing that there goes the integrated exchanges that online shops allow their customers to pay with bitcoin.It is making our lives easier and those that want to spend bitcoin for purchases. While I'm holding for long term, I allocate some for spending for the things that I want to have and need.
Whilst we're using it for purchases and holding, people that don't have an idea on it will never use it and also those people who have doubts about bitcoin, they won't just come out and use it if they're hearing negative hearsays about it.
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Why aren't people utilising cryptocurrency payment methods? Without it, the adoption would never be able to realise its full potential.
Not not using cryptocurrency payment methods, but it must also be fully authorized by all countries and governments so that all people can learn and use cryptocurrency payment methods. Because at this time not all countries have legalized the use of cryptocurrency payment methods in all cases.Quote
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?
Those who are interested in cryptocurrencies and blockchain are not unwilling to use Bitcoin for payments, but as I said that where the use of Bitcoin for any payment is still not fully legalized in all countries so its use is still very limited, because the use of Bitcoin for payments is still not in line with regulations and rules in all countries. Except for countries that have adopted it such as El Salvador and the Central African Republic. 
The decentralization of most cryptocurrencies is the major setback the crypto world faces in terms of adoption. Crypto is the best payment gateway and would have solved the money transfer issues that many are facing, with a lesser fee. Although the decentralization has a lot of advantages but gives lower room for regulations, which is the fear of many people and the world government.
They have already mention the most common answers why people aren't people utilizing cryptocurrency payment methods. I'd like to add that most probably, people want to hide their money from the government.
Because most people still think that bitcoin/crypto is a scam.
+1
Next to that, those who don't think crypto is a scam mostly use it as an investment, to HODL... Or to trade and make (or lose) some more money.
The amount of people who don't think crypto is a scam AND want to use it as an actual currency instead of an investment tool is very small...
Because most people still think that bitcoin/crypto is a scam.
So, do you use cryptocurrency or crypto cards? What are your thoughts on it if you use it? If not, what's the deal?
Outside of paying through the likes of BTCPay/BitPay, not really. I'd rather spend my fiat. Not a fan of unnecessarily submitting more and more KYC documents to business entities unless totally necessary.
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?
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