Bitcoin Forum

In light of the market turmoil, there's some positive news.



Eduardo Abreu, the vice president of Visa’s new business is considering expanding VISA in Brazil to accept crypto, and in particular BTC (among others) payments.

At this stage, this is still an idea and it would take some time to see it implement but at least there are talks in the right direction.

Would this and similar news be enough to trigger an upward/less volatile market? Seems like we all need it, considering how the Alonzo hard fork on Cardano ecosystem had no impact on price upward movement (or maybe not yet)


https://bobosandwojaks.com/cryptocurrency-to-be-accepted-by-visa-in-brazil/

Not surprising since VISA has been providing the infrastructure for a handful of crypto-based credit cards for quite a while now. Accordingly I also believe that the market impact of such news would be rather limited as it's likely already priced in. Still, increased acceptance is always good news!

no surprise cause they have crypto dot com years to see how it goes.
now moving on to accepting it directly for the second largest country population wise in the americas.

The market fell in response to the news today that South Korea banned altcoins.The news of OP brought confidence to the panicked people.

Accepting crypto?? I mean in what direction? Are they going to use crypto for value transfer purpose in a similar way the Ripple does? Or is Visa going to allow crypto purchase through their network? I can see the below statement in the article,


Not sure which direction it will eventually take! But it's a positive news anyway!

VISA and other card payment companies has to accept crypto otherwise some other provider will roll over them in the next 10 years. They are not stupid to deny that crypto wont get worldwide acceptance in the next few years.  

Brazil became one of the countries that started accepting bitcoin. But actually Brazil has long learned about bitcoin and its application to several sectors in their country. After in 2018 Brazil had adopted bitcoin for transportation payments, they now want to integrate Visa with crypto as payment and storage. this is a great step and a good adoption for bitcoin.

There is no specific announcement regarding the launch date, but it is widely expected in the coming months.

The big advantage of adopting Bitcoin, without a doubt, is its convenience.
No need to exchange fiat currency, there is exchange optimization when using Bitcoin

Visa is doing a lot for crypto acceptance. NFT projects, crypto cards and etc. son i'm not really surprised but it's still cool.

In bear market, positive news can not do anything. It can not change the market direction.

I am not saying the market now is bearish but market participants are very fearful now. Months ago, positive news like this can help Bitcoin to have a rise in a few percent but now, nothing happens.

The index presents that they are less fearful than a few days ago but still very fearful. They need more time but needs Bitcoin to keep the support at $43,000.

https://alternative.me/crypto/fear-and-greed-index/

On the contrary, it is  good news because hopefully it acts as the seed for other countries to consider thinking along the same lines.


For sure a welcoming one, and hopefully it gives people the confidence in crypto that it is a store of asset line that is not going to disappear like many people are fearing but an actively expanding one.

After the Walmart news, let's hope that confident people will persevere.

Better to stop that and start investing in those stuffs that they're getting into because you don't know what's going to happen next and you don't want to miss out when things start gathering attention and the prices starts going up.

This is good news but not surprising to see Visa accepting bitcoin in one country, considering the recent news we saw from visa they showed us that they have made the decision to participate in the world economies adoption, and accepting bitcoin can be one step forward. Maybe, since there are some regulation issues with accepting bitcoin for any company Visa will just do the job for one country and the progress of accepting will be slower, but I expect to see more companies and more countries legalize and accept bitcoin before the next halving cycle in a new years.

I was curious how they could accept Bitcoin or anything else since they are basically just the link between a bank and a merchant.


So, it's nothing different from what Binance, Wirex and Coinbase are doing right now.
You're still going to need a bank account and a bank that accepts cryptocurrencies.


No, it's not.
For a country to "accept" bitcoin it needs to be considered legal tender, and no such thing happened in Brazil.
There is a huge difference between a country accepting a currency and letting its citizen own and trade something.

Um I don’t think this is the first time that Visa is talking about Bitcoin or cryptocurrency in general. Before now I’ve been seeing talks about visa and cryptocurrency and things like that, So this doesn’t seem like a much of a surprise to me. And I don’t think it’s only visa in Brazil that is planning to do this, or doing it already.

I have Once seen on the visa official website where they talked about accepting cryptocurrency for payments, And right now I am sure they are accepting USD coin. and based on other news that I’ve seen they plan to expand the number of cryptocurrencies they are accepting.  They also rolled out a new feature that allows people to send and receive cryptocurrency while they are offline.

It's actually already possible to acquire a Visa credit card when using crypto apps. So who knows if this possibility is already helping the market to move upward like we are constantly seeing day by day?

Personally for me a bitcoin adoption by Visa wouldn't make any additional difference, because I'm already customer of a local exchange which guarantees a Visa credit card and zero fee taxes when converting bitcoin to fiat or vice versa. Furthermore there isn't any other additional fee for using the credit card as well. It's quite the opposite, because there is even cashback feature on every purchase.

If they're about to do that certainly in Brazil, that's like a pilot testing for them to see if it's going to be effective with a country that has a massive population.

Still a good news but until it's finally working there, there's no effect that will make the market move upwards because of this news. However, we're all still bullish with or without this news.

They need to step forward or else some company will do it and will take away their popularity just because they don't adopt the innovation of the crypto industry. I think they already learned from the mistake of companies that were hard-headed not to adopt any innovation and lead to their totally demise like for example NOKIA when they totally wrecked by ANDROID. If VISA won't upgrade or develop their system on accepting crypto payments other will do and they cannot stop its popularity. They are on the right mind these days when they consider not to skip those ideas.

Bitcoin payments are widely used in american country recently i think this is a good start for cryptospace so we could see the effectiveness of bitcoin payment as a common payment for doing any daily transaction.
I've seen in this forum also, the thread that someone said he opened a bitcoin payment in his shops with lightning network with no fees at all, which means bitcoin transaction is able to implement even on small transactions