The way a credit card or bitcoin works is almost the same, he can transact without fiat, that is a function of the two similarities.
But here, bitcoin has a more unique and free nature than credit cards, but some countries still doubt bitcoin technology for transactions. Will one replace a credit card? I don't think so. The most plausible reason is that no matter how good the technology or the benefits of bitcoin with its lack of stability as a currency will make it difficult to estimate the price, even if it is used as a credit system, it will pay or receive inappropriately at first.
Topic: Will cryptocurrencies eliminate the need for credit/debit cards in the future? - page 4. (Read 786 times)
March 20, 2022, 04:00:50 AM
March 20, 2022, 03:33:56 AM
I don't think so because as much as we see cryptocurrencies as a mode of money here to displace fiat and its tools like credit/debit cards... Cryptos themselves are hard to spend and credit and debit cards make it easy to spend.
You might say we have bitcoin atms and what not but these are limited to how and what coins can be used on them, which leaves these cards to be part and parcel of the future.
You might say we have bitcoin atms and what not but these are limited to how and what coins can be used on them, which leaves these cards to be part and parcel of the future.
March 20, 2022, 03:29:18 AM
Now this crypto revolution will give the solid reply to the governments and banks which are playing debth games from decades with innocent middle class people now these banks will have to accept blockchain technology and need to change its traditional structure about credit/debit card otherwise the day is not so far when crypto currencies will definitely eliminate credit/debit cards.
March 20, 2022, 02:49:14 AM
It all depends on mass adoption. In countries where Bitcoin has been recognized as a legal tender, I think debit/credit cards are slowly becoming obsolete. I do not think there will be a complete elimination unless the banks close their services. In India, we rarely use debit cards nowadays due to UPI transactions but we are still using credit cards.
So far, only a few countries have legalized Bitcoin as a means of payment.if in the future more and more countries legalize maybe either credit cards or debit cards will be abandoned,
Yes, for deletion, I don't think it will happen, but rather it will be abandoned, but anyway we need to see how it develops later
March 20, 2022, 02:22:05 AM
Once upon a time, people were shopping by barter. Later, antique coins appeared. As time passed, we started to use the paper money we use now. Currently, everyone is shopping with credit cards, and the use of paper money is decreasing day by day. We know that payment methods change over time.
One day, the use of credit cards will also end, I don't know if bitcoin or another coin will be used instead, but I think the new future technology will be related to blockchain
One day, the use of credit cards will also end, I don't know if bitcoin or another coin will be used instead, but I think the new future technology will be related to blockchain
March 20, 2022, 02:05:56 AM
Smart contracts are here to solve the most common problems of current traditional finance. If you really deep dive into how it will really solve, it's really amazing.
Especially with credit/debit cards, I believe it is possible that cryptocurrencies will be more convenient, I don't agree it will eliminate because there are still lot of people are comfortable using traditional credit/debit cards, so we can't force them.
Especially with credit/debit cards, I believe it is possible that cryptocurrencies will be more convenient, I don't agree it will eliminate because there are still lot of people are comfortable using traditional credit/debit cards, so we can't force them.
March 20, 2022, 01:40:22 AM
It all depends on mass adoption. In countries where Bitcoin has been recognized as a legal tender, I think debit/credit cards are slowly becoming obsolete. I do not think there will be a complete elimination unless the banks close their services. In India, we rarely use debit cards nowadays due to UPI transactions but we are still using credit cards.
March 19, 2022, 11:33:32 PM
can never be removed. visa, mastercard and others contribute to the government. so if they all disappear, the government will lose their income. and they will make every effort to keep them in use. one of them is limiting the influence of crypto. So crypto replacing credit/debit cards is just a dream and will never become a reality.
I believe its impossible that cryptocurrencies will going to eliminate the need of credit/debit cards in the future because this for me sounds like the question if cryptocurrency will going to replace Fiat. These debit/credit card had been part of lives of people and the company behind these are such a big and successful businesses and I would also doubt if government will going to allow this happen because of the revenue that these contribute to the country..
You're right, after all credit/debit cards are easier to trace, unlike decentralized crypto. that's why the government prefers it. The tax generated from using a credit card is also very large. so it is very difficult to make crypto replace credit/debit cards, because there will be many parties preventing all of that from happening. but there is a chance that crypto will be used as an alternative choice. and I think at the moment crypto is moving towards that possibility.
March 19, 2022, 07:00:08 PM
A few things I'd like to mention is a merchant and business that slowly accepts cryptocurrenices are mainly dependent on which regulation pressure of the country. Some may accept it as a legal tender, some in the grey area, and in some cases it strictly prohibited. As of now, looking at how difficult cryptocurrencies are being used by a regular user and how most regular Joe is already getting used to using cards, I doubt the rate of demand cryptocurrenices payment are significant.
Regarding the future stance, cryptocurrencies won't likely completely eliminate credit/debit cards. If you mean CBDC, then it may be achievable noting how the government is able to control it.
Regarding the future stance, cryptocurrencies won't likely completely eliminate credit/debit cards. If you mean CBDC, then it may be achievable noting how the government is able to control it.
March 19, 2022, 01:34:39 PM
You are right cryptocurrency is performing better and secured alternative to fiat money services and using cryptocurrency to make payments are far better than using the traditional banking system, but I don't think visa or master card will seize to exist simply because cryptocurrency become an absolute replacement. This may not be possible and also we have already some companies who are offering crypto debits cards for online payment and pos.
March 19, 2022, 12:46:49 PM
Anything is possible, but if you ask me about my point of view, I would say that cryptocurrencies will replace the roles of debit and credit cards, but not entirely, because for general payments it would be very difficult if not regulated, for example. money theft? how about after? Will the user resign themselves to the loss of their money? Of course not, in today's payment types, if something untoward happens like theft, it can all be tracked and then the service provider can block the thief's access.
It can't be done on the Public Blockchain, but it looks like it can be done on the Private Blockchain, therefore lately we often hear about CBDC, this is what will replace traditional finance in the future.
It can't be done on the Public Blockchain, but it looks like it can be done on the Private Blockchain, therefore lately we often hear about CBDC, this is what will replace traditional finance in the future.
March 19, 2022, 11:23:21 AM
can never be removed. visa, mastercard and others contribute to the government. so if they all disappear, the government will lose their income. and they will make every effort to keep them in use. one of them is limiting the influence of crypto. So crypto replacing credit/debit cards is just a dream and will never become a reality.
I believe its impossible that cryptocurrencies will going to eliminate the need of credit/debit cards in the future because this for me sounds like the question if cryptocurrency will going to replace Fiat. These debit/credit card had been part of lives of people and the company behind these are such a big and successful businesses and I would also doubt if government will going to allow this happen because of the revenue that these contribute to the country..
March 19, 2022, 03:20:31 AM
What do you think? Will cryptocurrencies eliminate the need for credit/debit cards in the future? If not, why? Your input will be greatly appreciated. Thank you very much.
can never be removed. visa, mastercard and others contribute to the government. so if they all disappear, the government will lose their income. and they will make every effort to keep them in use. one of them is limiting the influence of crypto. So crypto replacing credit/debit cards is just a dream and will never become a reality.
March 18, 2022, 10:34:20 PM
What do you think? Will cryptocurrencies eliminate the need for credit/debit cards in the future? If not, why? Your input will be greatly appreciated. Thank you very much.
For some reason I believe it will not be a legalize alternative for it. Its quite impossible to abolish debit/credit cards system and we all knew that all forms of government would not abort it anf shift to blockchain. Too many companies will be affected by it if ever we goes to that kind of scenario, banks would definitely fall to the ground as blockchain emerge like this. 
March 18, 2022, 10:34:14 PM
Maybe the government will have CBDC, VISA, Mastercard, American Express will create their own stable coins, but to get out of the world completely cashless, I don't think it's possible. Cash and credit/debit cards will always be needed under certain circumstances.
Crypto needs the internet to be used but nowadays the internet in many places is really unstable and many people in my country they have difficulty using smartphones, it will be very inconvenient for them if they live in a world without cash.
Crypto needs the internet to be used but nowadays the internet in many places is really unstable and many people in my country they have difficulty using smartphones, it will be very inconvenient for them if they live in a world without cash.
March 18, 2022, 10:26:34 PM
it is possible that the need for credit/debit cards can be trimmed. if the use of Crypto in the world is getting bigger, so is the adoption for transactions that are getting wider. public confidence in the use of Crypto may increase.
everything will look easier, with an offline or mobile wallet that can be taken anywhere. can be used as a transaction tool anywhere. of course, why do we bring a credit/debit card?
it all depends on how crypto can be used and get a place as a transaction tool or not. if no function accepts crypto transactions, then people will continue to use the same tools.
everything will look easier, with an offline or mobile wallet that can be taken anywhere. can be used as a transaction tool anywhere. of course, why do we bring a credit/debit card?
it all depends on how crypto can be used and get a place as a transaction tool or not. if no function accepts crypto transactions, then people will continue to use the same tools.
March 18, 2022, 10:25:42 PM
Bitcoin or altcoins doesn't replace fiat, so it will not eliminate credit and debit cards. Maybe credit and debit cards will be eliminated when CBDC has been widely adopted. To be honest we already can live with cashless society now, you only need a smartphone installed of your mobile banking application or your local e-money. You only need to scan barcode to pay anything, it's cashless.
March 18, 2022, 10:11:25 PM
Profit takers in the financial sector won't stop chasing users of conventional financial services. I used to think that there would be no lending services other than those offered by certain banks and agencies, and as it seems today that is very much possible in cryptocurrencies. Likewise C/D Cards, this service will gradually adopt blockchain technology so that customers stay at hand.
March 18, 2022, 06:15:56 PM
I'm not so sure yet since we all know that not all people used to using credit/debit cards or even crypto such as Bitcoin or Ethereum. I think demand will be divided or getting smaller and smaller each year. Businesses would try their best to cope up with the new technology such as Blockchain so I don't think really that this will be phased out in the future.
The new technology is under development and debit/credit card makers would try to catch with the demand the way we see it so does new regulations too.
The new technology is under development and debit/credit card makers would try to catch with the demand the way we see it so does new regulations too.
March 18, 2022, 05:57:06 PM
We’re talking about big companies here so I think crypto can’t eliminate them but crypto can compete with them. This is a competition, and the good platform will be on top while the others will stay below. Debit/credit card will stay and serve their purpose because that is the fastest way to access our money in the banks and the banks can’t die as well so for me they have to stay and we have to deal with this.
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