Can Amazon Integrate Bitcoin?

[Lounadolcy]

If you use the BitPay wallet then you can already purchase an Amazon gift card by pressing the button present on your wallet GUI. This card is added directly to your Amazon account and  you’re making Amazon purchases with Bitcoin…

[mimienamphine]

Amazon will move to the next level in online trading if they integrate cryptocurrency into their payment system.This is because more people around the world will like to own their token so that they can easily purchase goods and enjoy discounts.They will need to build a strong system though so that fraudsters will not take advantage of people to steal their money and buy goods from amazon.

[Falmera]

Amazon is the largest e-commerce marketplace globally, and within a span of few years, it has quadrupled its market cap to $532 billion. It processes an unprecedented amount of orders and hence, the integration of payment technology or digital currency would require a prudent testing process and cautious implementation.

At this point, the demand for bitcoin is evidently increasing at an exponential rate, as the price of bitcoin recently surpassed the $7,000 mark for the first time in history. But, the scalability issues of bitcoin cannot be dismissed, since the size of the bitcoin mempool has increased back up to 50 million and the block size has remained above 1.04 MB in the past few days.

Currently, some of the most widely utilized bitcoin wallet platforms such as Blockchain and Coinbase are recommending transaction fees above $1. With SegWit-enabled wallets, the fees would likely be below $0.7, since as hardware wallet manufacturer Ledger stated, SegWit provides at least 35 percent reduction in transaction fees.

But, Amazon cannot expect general consumers or beginner bitcoin users to use SegWit-enabled wallet and enjoy lower fees, and in the short-term, the company may receive complaints in regards to high fees.

Read more here...

The recent buzz on the possibility that soon Amazon can be adopting Bitcoin as one of their medium of exchange or transactions is sending excitement all over. This can be a holy grail we are all waiting for. However, there are those who seriously look into the matter and concluded that there are still some big hurdles that have to be ironed out before Amazon would really start working for this dreamed adoption.

I am sure that all of us here are already familiar with that one big hindrance and we are also complaining about this since time immemorial. We keep on hoping that soon this thing can be given the right solution as paying a high transfer rate is actually not what Bitcoin is made for. Maybe Amazon is really just waiting for the right time to come and take Bitcoin but for now they must have concluded to temporary shelve the whole idea for reasons we already know.

As the innovation is made possible by the use of advance technology, I think it is possible. They maybe are studying it deeply before they will integrate it with bitcoin. Or is obseving the movement of the crypto currency around the world.

[sirmitchel]

I believe it is highly possible, we may see Bitcoins on almost all paying sites and
transaction options in the near future. Bitcoin is perfect to such a challenge, I
think it's even highly qualified to be so. Amazon, Zappos, Ebay and other well
known shop sites must integrate and innovate to keep up and get into the future
of online transactions. Bitcoin is the best solution for this. Let's just wait and see.

[lingwistiko]

If Amazon can integrate bitcoin and other cryptocurrencies for their online goods and services, then that will be a very good feature their company could have for the betterment of their business most especially for their clienteles.

[Sir Paijoe]

Amazon is the largest e-commerce marketplace globally, and within a span of few years, it has quadrupled its market cap to $532 billion. It processes an unprecedented amount of orders and hence, the integration of payment technology or digital currency would require a prudent testing process and cautious implementation.

At this point, the demand for bitcoin is evidently increasing at an exponential rate, as the price of bitcoin recently surpassed the $7,000 mark for the first time in history. But, the scalability issues of bitcoin cannot be dismissed, since the size of the bitcoin mempool has increased back up to 50 million and the block size has remained above 1.04 MB in the past few days.

Currently, some of the most widely utilized bitcoin wallet platforms such as Blockchain and Coinbase are recommending transaction fees above $1. With SegWit-enabled wallets, the fees would likely be below $0.7, since as hardware wallet manufacturer Ledger stated, SegWit provides at least 35 percent reduction in transaction fees.

But, Amazon cannot expect general consumers or beginner bitcoin users to use SegWit-enabled wallet and enjoy lower fees, and in the short-term, the company may receive complaints in regards to high fees.

Read more here...

The recent buzz on the possibility that soon Amazon can be adopting Bitcoin as one of their medium of exchange or transactions is sending excitement all over. This can be a holy grail we are all waiting for. However, there are those who seriously look into the matter and concluded that there are still some big hurdles that have to be ironed out before Amazon would really start working for this dreamed adoption.

I am sure that all of us here are already familiar with that one big hindrance and we are also complaining about this since time immemorial. We keep on hoping that soon this thing can be given the right solution as paying a high transfer rate is actually not what Bitcoin is made for. Maybe Amazon is really just waiting for the right time to come and take Bitcoin but for now they must have concluded to temporary shelve the whole idea for reasons we already know.

As the innovation is made possible by the use of advance technology, I think it is possible. They maybe are studying it deeply before they will integrate it with bitcoin. Or is obseving the movement of the crypto currency around the world.

Of course they are very careful to implement blockchain technology, this is to make them no more errors when, I'm sure that Amazon has done an analysis to apply and accept bitcoin and it happens soon.

[casternetwork]

I hope that Amazon will approach and accept Bitcoin in the future. Amazon is the largest corporation in the world, if Amazon accepts Bitcoin, I believe other corporations will also accept Bitcoin.

[cheeseandcrackers]

They're way more likely to create their own token when crypto becomes more widely accepted.  Either way, there's nothing stopping them from accepting bitcoin now, they probably don't want to deal with the hassle when it'll be such a small percentage of customers though.  There is the problem with constantly fluctuating value as well, so they'd have to come up with a way to sell directly for values of bitcoin, not amounts of other fiat currency.  That will probably stop a lot of people from using it in the beginning as well, just the confusion of how much things cost.  I think it's coming though, there's no stopping the crypto train.

[MendozaCharles]

I think that Amazon will have to intervene in electronic money as well as make Bitcoin a payment currency, but through the forums, it is clear that Bitcoin is a high risk for investors. Be careful in dealing with virtual currencies.

[YED]

no i don't think that's possible now..  even if Amazon had planned to integrate bitcoin in the past few months, the integration process could take years of research development, and testing, given the difference in the magnitude of the Amazon ecommerce platform in contrast to its rivals.

[baundul]

Next Level for Cryptocurrencies: When Will Amazon Accept Bitcoin Payments?
Experts agree that the future of cryptocurrencies will critically depend on whether they are accepted as a regular payment from leading online retailers. The signs for that are not bad.

https://www.ccn.com/next-level-cryptocurrencies-will-amazon-accept-bitcoin-payments/

[mrbamboo]

I think Amazon can integrate. Because using Bitcoin as a trading currency will have the added advantage of being fast and secure. This will benefit both the shopper and the seller as Amazon. Amazon's policy is very interested in satisfying customers. So choosing Bitcoin as a currency to better serve the needs of consumers is a matter for Amazon. I believe this will come true.

[mrbamboo]

no i don't think that's possible now..  even if Amazon had planned to integrate bitcoin in the past few months, the integration process could take years of research development, and testing, given the difference in the magnitude of the Amazon ecommerce platform in contrast to its rivals.

Right. The decision to use a digital currency to purchase goods is a big deal for the home business. Because they are just a business, not an investor. With the use of dollars as a trading currency, they can easily control the profitability of their jobs. But Bitcoin is different. The value of Bitcoin is unstable, and this is a difficult one for business people like Amazon. But that is the problem now, in the future everything will be different. Amazon will consider appropriate measures to make Bitcoin a trading currency for Amazon.

[victorski]

Why not?) I will be pleased if I could buy from my favorite store with bitcoin and they will beat their all business enemies by doing that

[kumala_abi]

I hope that Amazon will approach and accept Bitcoin in the future. Amazon is the largest corporation in the world, if Amazon accepts Bitcoin, I believe other corporations will also accept Bitcoin.

that will make great effect to cryptocurrency market.main effect is bitcoin price will rise sharply and followed by altcoin maybe.new investor and new institution that accept bitcoin going bigger.

[trako]

Because BitCoin is a very flexible and volatile market, Amazon may not prefer this. constant updating is required.
this can create opportunities for the buyer and the seller, but it can also be caused by the damage.
I do not think they will prefer it.

[localcrypto]

amazon is going to use blockchain for logistics and so Amazon may develop their own crypto currency in near future rather than accepting eth and btc

[Boov]

It is a risk for a company to use bitcoin as a medium of payment, why? It is no secret that bitcoin can go up and down , just like within 2 years from 500 dollars to more than 10 thousands  dollars and dropping from more than 10 thousand  dollars to less than 10 thousand dollars. As a financial student it will be hard for a company to input its financial record because of the changes of bitcoin from time to time so I think amazon will not use bitcoin as their payment.

[MiXxe]

Amazon is a very big company. It makes millions for many people. But for amazon to integrate with bitcoin? I doubt. Well I think, they are interested to trading bitcoin but the to accept it as a payment for the Amazon users? I don't think it will be strategic for them. Or should I say it will be risky for them. The thing is that, when bitcoin price is high, that means very high profit for Amazon, but as a company, they cannot totally rely to a volatile payment so when price goes down, Amazon will absolutely go down as well.

[peter0425]

How about using payment processor like Bitpay? It's a secure bitcoin payment that they can implemented and as user, its will also be beneficial on our end so its a win-win situation, most merchants are using Bitplay so somewhat mitigate the volatility of cryptocurrency. I do hope that Amazon is still open on accepting bitcoin as payment because we all know that they are the no. 1 online retailer will and accepting bitcoin as payment will be a good decision on their end because bitcoin is slowly growing and its still in its infancy and soon gonna explode an if they got in early, they might as well take a huge slice in the pie. Just saying.