Coinbase Launched “Coinbase Commerce Button” for Merchants like PayPal Plugin

[Jeffery Musk]

Coinbase, one of the largest cryptocurrency exchange has launched “Coinbase Commerce button” for merchants. By integrating this new service on websites, merchants will have direct access to crypto payments from Coinbase merchants which was otherwise completed only after creating an account on Coinbase.
Know More: https://coinpedia.org/news/coinbase-launched-coinbase-commerce-button-for-merchants-like-paypal-plugin/

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[jseverson]

Wait, if they're not open to new merchants then who exactly is currently using the service? Or is this more like a teaser launch?

It sounds great though. I won't say no to additional avenues of crypto payment. I hope it catches on. Bitcoin has been labeled unusable because of the clogged network at the end of 2017, and people need to know that's not the case anymore. All signs point to an increase in Segwit adoption (Coinbase is about to come out with support too!), and that should help handling the demand plenty.

[vv181]

Wait, if they're not open to new merchants then who exactly is currently using the service? Or is this more like a teaser launch?

It sounds great though. I won't say no to additional avenues of crypto payment. I hope it catches on. Bitcoin has been labeled unusable because of the clogged network at the end of 2017, and people need to know that's not the case anymore. All signs point to an increase in Segwit adoption (Coinbase is about to come out with support too!), and that should help handling the demand plenty.

And Don't forget the lighting network implementation. I'm sure when the segwit adoption already widely used and the lightning network already being implemented in the mainnet, it will surely boost Bitcoin market. I believe Coinbase deliver it perfectly for the mainstream to use Bitcoin easily and efficiently.

[bitfocus]

sounds great to me! now I will be able to accept Bitcoin payment directly from clients on my websites!

[lizardbtc]

The sad truth is what exactly are merchants using. They are using these 3rd party processors suchas BitPay and Coinabse to integrate crypto payments within their systems which means that it gives the power for these 3rd parties to track every payment for every item and second those coins are mostly sold right away - it is great for merchants since only what they need is to integrate their API and they are ready to accept crypto and get fiat and are doing this because they want more people to of course buy their products. But at the end of the day most of those merchants are not holding crypto and are looking into maybe even pay salaries in crypto.

Just imagine that few websites you buy from use coinbase and you don't care much and buy from the same address, well what will this mean for coinbase? Who knows if coinbase and other payment proccessors aren't working together and are conecting the dots of who is moving and buying what. Imagine what impact on privacy this would have.

[Coffee135]

Coinbase was created for American users. But there are fewer cryptocurrency users in America than in other countries. So I'm not sure this will set a precedent. After the problem of speed and price of the transaction will be solved sellers and buyers will be able to directly make payments in cryptocurrency. Exchanges should be engaged in what they are created for.

[alyssa85]

Wait, if they're not open to new merchants then who exactly is currently using the service? Or is this more like a teaser launch?

It sounds great though. I won't say no to additional avenues of crypto payment. I hope it catches on. Bitcoin has been labeled unusable because of the clogged network at the end of 2017, and people need to know that's not the case anymore. All signs point to an increase in Segwit adoption (Coinbase is about to come out with support too!), and that should help handling the demand plenty.

Maybe they'll roll it out to existing merchants to see what the response is.

What Coinbase really needs to do is add alts. Merchants are leary of bitcoin because of getting burnt last year with transaction times and fees.

[xdrpx]

There were a couple of things with Coinbase exchange service that would keep me away even from their Merchant services. I'm expecting the fees to be high sometime in the future i.e; Until they gather enough merchants as their customers and start charging high fees, also them being painfully slow in processing support tickets and also implementing important feature implementations for Bitcoin (possibly accepting Bitcoin payments over the Lightning network like ACINQ Strike). Hence, like their exchange service, I would also be very cautious about their mechant services.

The only upside I see here is BitPay now has a competitor and this would help end their monopoly in this vertical. A better alternative for a merchant presently would be BTCPay which is an OpenSource project and would give the merchant to be in control over their funds with a little hard work to set it up (it's a one-click install to deploy on Azure).

[poptok1]

Just imagine that few websites you buy from use coinbase and you don't care much and buy from the same address, well what will this mean for coinbase? Who knows if coinbase and other payment proccessors aren't working together and are conecting the dots of who is moving and buying what. Imagine what impact on privacy this would have.

This is definitely a thing to consider, I'm not sure what is coinbase policy with account registration, do people are required to give them real personal informations? If yes, than anonymity is already lost. Never was a fan of this "wallet", to much strange informations where floating around, regarding withdraw issues, frozen accounts and in general rather worrying stuff. If someone asks me, I will always dissuade usage of this platform. When I stumble upon a shop that sells stuff through them than I'm probably not going to use it.

First part of your post is also very adequate, I don't like how merchants instantly swap coins to fiat, it feel so opportunistic (but hey, that's just business), doesn't do much good in bigger picture perspective.

The only upside I see here is BitPay now has a competitor...

Fair point, the more the merrier.

[johnwan980]

This is great for coinbase users

[sakib.bro]

that seems awesome
i hope in a next few months there will be added  more features in coin base