How Practical is Bitcoin As Payment Service?

[shoreno]

I think 10 minutes of block time makes it somewhat uncomfortable for fast purchases.

the transaction time depend's on the fee that you put before you send the payment , the higher the fee the faster the process and the lower the fee the slower it takes to mine the blocks ( vice versa )  .  i forgot that it'll also depend on how congested the network is  .

now if someone would say that bitcoin is practical as a payment service , id say no it isnt because as on what i understand the term practical means cheap but bitcoin payments arent really cheap at all  .  there are still other payment methods  out there that we can use for free without any charges like fore example paypal .

[Dextract]

I think 10 minutes of block time makes it somewhat uncomfortable for fast purchases.

Oh yeah thats a good addition maybe if the sites acceot Lightning Bitcoin then maybe its solved or other cryptos like Dogecoin

[Emily_Davis]

Compared to cash and credit/debit cards, bitcoin is definitely easier and more ideal for one simple reason: the transaction is much faster and easier, all thanks to blockchain technology for making it possible.

[Kim Addington]

Bitcoin is an outstandingly easy way of payment - especially (but not only) for cross-border transactions. The experience would be even better if businesses accepted Bitcoin natively without the fiat conversion crap. But this will need some time to happen... For now any business that accepts Bitcoin is a big win for our free decentralized market money.

[April Ford]

I've used bitcoin to pay for stuff when I wanted a degree of anonymity and when I did not trust the retailer enough to use a credit card. However IMO, using bitcoin for retail purchases is bad for bitcoin when the retailer (or the payment service) will immediately trade it for fiat, putting downward pressure on bitcoin's price. I think bitcoin's price and market cap needs to be much higher in order to reduce its price volatility and increase its utility as a medium of exchange.

[Ibas samara]

a natural thing, make bitcoin as a payment tool for online shopping needs.
but in my opinion, if for shopping needs and doing transactions using bitcoin, depending on the bitcoin you have, try to make a percentage based on your bitcoin asset allocation. For example:
- 30% for investment
- 50% for trading
- 20% for shopping
with these references you have the limit to use bitcoin as best as possible. there are times when you collect profits, and there is a time for expenses, so there is a balance in managing your bitcoin assets.

[izanagi narukami]

the use of bitcoin is very practical in my opinion and the process is fast. there is no limit to using bitcoin if you have a lot of bitcoin to buy, eat and transfer bitcoin

Unfortunately my government still not agree with cryptocurrency because they still categorized as criminal money.
Personally,  bitcoin is a new way to transaction, transaction that can be done with internet not similar with CC, it can be use for transferring all money around the world which IMO will increase global mobility for better future !

[keykey1]

I think that it is not very popular as a means of payment, but there is such a practice. There are a number of places where bitcoin payment is accepted and everyone can take advantage of it.

It is not popular as the payment system now. When several years pass, and having Bitcoins in a wallet will be a norm, people will be more active to buy and sell things for crypto.

[Thyristor]

i am new here and i came to ask fellow users about how practical bitcoin as payment method is? i paid for domain on namecheap via bitpay and it was okishh experience. I mean how much i can use bitcoin to pay online for shopping,services and goods?

I paid using by btc to bought domain in https://www.namecheap.com/ but i send btc from coinbase wallet https://www.coinbase.com/
and may be namecheap received after few minutes 200 confirmation good working payment service i think.

[stigmacryptonight]

I believe utilizing cryptocurrency such as bitcoin because repayment is extremely useful. It's safe to transport anyplace as well as at any time. Whenever you want to journey in a nation, we are able to utilize bitcoin with regard to repayment within vendor as well as I believe it's truly useful.

[budi691]

Bitcoin as a payment service in practical is simply possible. This is all through the adoption that is happening all around as well the user friendly applications that are getting into usage. Initially people will feel some difficulty in using the services, which further let's them use it same as that of using PayPal and other services.

Until now, Bitcoin's use of payment is more to the upper middle class who better understand digital technology, and do not want their identity to be known publicly. Because bitcoin ownership is anonymous, making some people like it rather than payment using fiat money. What makes it practical is the peer to peer system, direct transactions even between countries.

I think not only for the upper middle class, this is only a part for people who are interested in knowing what bitcoin is, even the lower classes can use bitcoin as long as they are able and understand to use it, I think it is easy and suitable for current economic progress.

[OSYA]

i am new here and i came to ask fellow users about how practical bitcoin as payment method is? i paid for domain on namecheap via bitpay and it was okishh experience. I mean how much i can use bitcoin to pay online for shopping,services and goods?

There are not so many options with products and services where you can pay with a bitcoin. The selection is getting wider every day but at the moment it is not really a comfortable method of payment for me. It needs more time to expand.

[readygoaw]

in my area I don't find so many practical ways of using bitcoin in my daily life, nevertheless there are a few online services/shops/persons that are accepting bitcoin and the number is increasing...
What I think mostly everyone does is having an account that allows you to deposit bitcoin and convert it to fiat, directly (linking an exchange account with your fiat bank account), or using a card from the company that supplies the service, and the availability of the card, depends on the country you are in

Not only in your area, my friend. I think, the number of the sites and the places where you can use Bitcoin to buy or sell something is not great. But in time, everything will change.

[Xising]

i am new here and i came to ask fellow users about how practical bitcoin as payment method is? i paid for domain on namecheap via bitpay and it was okishh experience. I mean how much i can use bitcoin to pay online for shopping,services and goods?

I would say that it can be a good payment method since like any other internet based payment method, it can be really convenient since today's era is so much inclined with the use of the internet. Online payments, these days, are very much widely accepted, and since cryptocurrency is one of those available options, people would soon enough accept it if it will be introduced properly for the people to totally embrace. However, the main challenge is the availability of the coins that are willing to be accepted by people.