Should more companies embrace crypto payment gateways?

[cryptohulk47]

The crypto scene where I'm from isn't that vibrant, but there are still cafes and some places that accept cryptocurrency as a legitimate form of payment. Just curious if bigger companies would hop on the train too, and if they do, how would that impact the market?

[cryptosza]

Several high end brands like Christofle Paris and the Bel-Air Fine Art Gallery have already adopted the Aditus crypto payment gateway. It definitely feels like a strategic move in keeping up with the times as they could tap into a new segment of the market (i.e those who hold their wealth in crypto).

On a smaller scale though, would you consider buying something more mundane like a cup of coffee with crypto? Not sure how that would play out with the volatility of the market and other factors.

[gemajai]

If I were the owner of a big company and I had a team of trading experts who could manage my cryptos even when in the low, then I would accept it. Because if its value goes up, I could gain more than what my customers paid. But if I don't have such a team and I am not that knowledgeable about trading and how to use cryptocurrencies in my favor, then I may lose a lot of money. It's still too risky for businesses to embrace it. They might, when cryptocurrency becomes more stable and it's not that volatile anymore.

[Manc89]

Several high end brands like Christofle Paris and the Bel-Air Fine Art Gallery have already adopted the Aditus crypto payment gateway. It definitely feels like a strategic move in keeping up with the times as they could tap into a new segment of the market (i.e those who hold their wealth in crypto).

On a smaller scale though, would you consider buying something more mundane like a cup of coffee with crypto? Not sure how that would play out with the volatility of the market and other factors.

Why not? If will be very great if we can buy a cup of coffee with cryptocurrency.
But if the payment confirmation takes very long then i will not use cryptocurrency to buy something. I will use if its already quick.

[kevoh]

The crypto scene where I'm from isn't that vibrant, but there are still cafes and some places that accept cryptocurrency as a legitimate form of payment. Just curious if bigger companies would hop on the train too, and if they do, how would that impact the market?

If these companies know they will be able to achieve convenience, security, speed, and save costs through the use of a crypto payment gateway I believe they will adopt it.

Bigger companies like Amazon, Alibaba e.t.c would definitely make a huge positive impact on the market if they were to hop on the train.

[JeffBrad12]

The crypto scene where I'm from isn't that vibrant, but there are still cafes and some places that accept cryptocurrency as a legitimate form of payment. Just curious if bigger companies would hop on the train too, and if they do, how would that impact the market?

Not sure about that but it looks like the major crypto coins have a chance to be accepted by the companies to pay their service.

About those are having medium marketcap and volume and that will be so difficult because the companies need to liquidate it instantly.

Just like what already done on steam when it was accepting bitcoin as payment. And it must be sold in the market instantly.

The scalability has a big role in this case.

[creeps]

The crypto scene where I'm from isn't that vibrant, but there are still cafes and some places that accept cryptocurrency as a legitimate form of payment. Just curious if bigger companies would hop on the train too, and if they do, how would that impact the market?

If big companies like facebook and google I think the impact is very huge and it can really pump the market but it will not happen easily, It will take more time or it may not happen. For now let's just appreciate those companies who are accepted cryptocurrency without any hesitation because they saw a true potential of this technology.

[m.vina]

Definitely yes.

Crypto payment gateways bring a whole new revenue stream. Same applies to what happens to business when they shift from only accepting cash to accepting cash and credit cards, more business is brought in! Cryptocurrencies are the future and will play an important role in consumer spending very soon. Early adopters who incorporate crypto in their businesses will reap the rewards. Mark my works.

[xuan87]

It will give a huge impact to the crypto, the first impact will be the transactions volume that rising and because the transactions volume go up ,it will make the price going up, I think it's a good idea for big companies to accept crypto, BTC was created as the global currency, so using crypto payment could expand the business even further

[siddartha1492]

Well, I think of it as another way to increase sales and bring new customers. If any company starts accepting crypto payments, then they have a lot of advantages.
 
Firstly, they are getting more customers. Secondly they are getting exclusive customers, which their competitors are missing because they don't accept cryptos. Thirdly, they are getting free advertisement on so many crypto news websites, forums etc. Just remember how the sales of KFC increased when they launched their Bitcoin chicken (whatever its name was).

The only disadvantage is the slow transaction speed and more importantly the volatility of the cryptos. But there are many crypto middleman companies which protect the companies from this volatility in exchange for some fees. Like Unocoin does that in India. And for transaction times, well Bitcoin lightning network sounds promising for Bitcoin, and other coins usually have 1-15 min transaction times. So, I think these transactions are more suitable for online shopping than shopping in a store, where quick checkouts are extremely important.

[cryptosza]

Several high end brands like Christofle Paris and the Bel-Air Fine Art Gallery have already adopted the Aditus crypto payment gateway. It definitely feels like a strategic move in keeping up with the times as they could tap into a new segment of the market (i.e those who hold their wealth in crypto).

On a smaller scale though, would you consider buying something more mundane like a cup of coffee with crypto? Not sure how that would play out with the volatility of the market and other factors.

Why not? If will be very great if we can buy a cup of coffee with cryptocurrency.
But if the payment confirmation takes very long then i will not use cryptocurrency to buy something. I will use if its already quick.

Oh it would definitely be great! But like you said, transaction time might be an issue with these quick purchases. Now if you were buying something online or maybe even buying real-estate overseas it would be less of an issue, but for quick transactions like coffee that would definitely pose some problems.

I actually got the coffee example from this: https://medium.com/aditusnetwork/8-challenges-to-overcome-to-enable-cryptocurrency-payments-c7a49e379d61

Interesting read, but not sure if I agree with some parts of it. Definitely believe that crypto payment gateways are the way of the future though.

[neinnein125]

Yes for sure, crypto payments may become great tax avoiding schemes for buyers. I personally plan to use cryptocurrencies if some digital markets start to use taxes against me. Good incentive for me to choose them over others..

[Afnan_faizah]

Yes, especially companies in financial and technology field. Cryptocurrency payment can eliminate the cost of bank service. Cryptocurrency can boost their growth, and this will also help all cryptocurrencies to be accepted in real world.

[Ailmand]

The crypto scene where I'm from isn't that vibrant, but there are still cafes and some places that accept cryptocurrency as a legitimate form of payment. Just curious if bigger companies would hop on the train too, and if they do, how would that impact the market?

If that happens, I am sure that the landscape of the cryptocurrency, or the Bitcoin market to be specific, will change. I say that because I think if the small and ground level business which are closer to people would accept cryptocurrency as a means of payment, it would imply that they are accepting its legitimacy as a market asset like any other prevailing currency, and so, that would make people see that there is nothing to fear when investing or doing ventures by the use of cryptocurrencies. It could give them the idea that since businesses accept it, then I can also accept it.

[labake]

This is a great topic we should look into in the crypto community as a whole. I would say, it’s nice one if big companies would accept crypto as a means of payment gateway. We have crypto investors who owns companies too. Everyone who is a crypto investor or lover who has company may start from their company.

[Naman1111]

Yes ,,crypto is the future. Earlier adoption will give advantage to whoever moves in first.
Main hindrance right now is the awareness and spend of transactions. Once companies start imbibing the crypto gateway  people will automatically start reading about it.
Its also advantageous for the companies bcz they free marketing and also they earn in btc or eth which is in long term going to increase in value so more profit for them

[qiman]

I would love to see more venors taking on crypto as a payment option, but so many people are still wary of crypto and because of the sheer volatility of cryptos right now, taking on crypto payment gateways could probably make or break a company in terms of profit. The only way it would work if the payment gateway actually calculates in Fiat and then immediately exchanges the tokens, so the vendor actually receives in fiat but the buyer has sold off tokens in an interim exchange provided by the payment gateway itself, like what happens with crypto debit card usage in ATM machines and also in shopping with it.

[sourish]

Right now its difficult to foresee such a possibility, because cryptos are still shrouded in uncertainty and growing pains, still in infancy and at an experimental stage, there is a blanket of unawareness towards its essence, existence and future.

[cryptokingdom]

Any company that accept or embrace crypto payment gateway is taking the best decision because this will grant the company financial transaction without restriction.