Building a store that accepts ERC20 tokens

[Giest]

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat.  However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services?  It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

[1715179996]

1715179996

[Zadicar]

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat.  However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services?  It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

Don't know why you do talk about metamask on this one yet we do know the functionality of it and since you do talk about merchants or projects that do have this kind of idea then I would say I didn't see much of those projects do succeed into this matter where having a store that do accepts erc20 tokens.I do rather believe that merchants do focuses out on Bitcoin itself since they do know its reputation when it comes to value than on erc20 which are most shitty tokens or doesn't have really use at all.

[Giest]

If you build a store that accepts them they have more purpose than Bitcoin.  A token with stable value is far easier to use as a medium of exchange than Bitcoins whose price fluctuates wildly and is non inflationary.

The small market value of tokens also make them easier to tailor fit into a micro ecosystem.

Has anyone coded transactions like this with erc20 tokens?

[7jaka7]

If you build a store that accepts them they have more purpose than Bitcoin.  A token with stable value is far easier to use as a medium of exchange than Bitcoins whose price fluctuates wildly and is non inflationary.

The small market value of tokens also make them easier to tailor fit into a micro ecosystem.

Has anyone coded transactions like this with erc20 tokens?

I don't think decentralized token with stable value exist. And usually they're manipulated very easily due to low trading volume and low market cap.

[AAlex48]

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat.  However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services?  It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

Many projects have already been created in this sphere.The question is which of them really work.

[Giest]

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat.  However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services?  It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

Many projects have already been created in this sphere.The question is which of them really work.

Which Projects are the best examples of this?

[FlamingFingers]

I don't understand why anyone would want to spend ERC20 tokens on goods and services. They weren't (aren't) made for this purpose, nor do they have enough value to be considered 'currencies.' There are quite a few of coins that are made to be used for services and goods, and are being utilised (Bitcoin, Litecoin, Ethereum, Monero, Verge, Dash, and even Dogecoin, soon XRP and NANO as well).

[hermankoles]

if you mean special merchants that are directly connected to erc20 tokens, then I will exemplify that the electroneum whose prices continue to fall starting in early 2018 is now starting to rise when they partner with merchants who can immediately receive ETN quickly and this is proven by ETN prices slowly began to rise and I'm sure it will continue to improve

[ChrisPop]

That would be a really interesting thing to be able to pay with any ERC20 tokens but you need to build a system to match the payments on another exchange with liquidity. Maybe try adding new accepted ERC-20 tokens slowly and only the ones which have a large community who use the tokens for various payments. You're trying to do a big project so I guess you will need a couple of skilled blockchain programmers.

[ionomy]

That would be a really interesting thing to be able to pay with any ERC20 tokens but you need to build a system to match the payments on another exchange with liquidity. Maybe try adding new accepted ERC-20 tokens slowly and only the ones which have a large community who use the tokens for various payments. You're trying to do a big project so I guess you will need a couple of skilled blockchain programmers.

You also need deep markets and liquidity. The biggest issue with using tokens or crypto for goods is the supply chains are still in fiat. So at some point in the process the coin will have to be exchanged. That kind of adoption is going to take a long time and will most likely be filled a niche currency in the markets that need them. (like the Marijuana coins)

[trademaniac]

many projects issuing their own tokens have a marketplace in the back, for example Sapien. You can buy clothes, gadgets and more for their token.

[ABYANSYARIF]

building store that accepts ERC20 means having to determine which tokens can be used for transactions, even though the number of tokens is very large, it will be impossible to accept all tokens, if choosing a popular token will lose to exchange, because token holders will prefer to trade their tokens, if they choose a less popular token, the volume will be small, and it will be a little difficult to cash the token, because store operations will need cash.
the volatility of the token price will also make it difficult to determine the price of goods and services sold.
I think a project like that would be very good if it could happen, but it would be very difficult

[CryptoToxicAvenger]

One of such projects is Akaiito. They had some problems with fees and they extended the ICO, but the idea is interesting. And like the team is trying to work. I do not know what they will succeed in the end, but here is one example of such a project.

[ninis45]

One of such projects is Akaiito. They had some problems with fees and they extended the ICO, but the idea is interesting. And like the team is trying to work. I do not know what they will succeed in the end, but here is one example of such a project.

akaito project is an interesting project and I participate in it only for its implementation it might be limited to an online store and to be applied to real stores like fiat then it takes time because many things will become obstacles

[mistemb]

well i heard PundiX can be used this way with much efficiency i saw a shop down town in my location that accept Crypto BTC / LTC / ETH only no other fiat just casual shop that offer breakfast to dinner as well some light weight drinks . been there for a both 2x with my community meeting , place is good and a great way to spend your crypto earnings without moving it to fiat first

[walerikus]

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat.  However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services?  It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

You have a great idea of token integration in real market, that would be huge

[CryptoPowerL]

I've seen many projects where you can buy products for ERC20 tokens. Now these projects are just developing. I think soon it will become a common thing to buy goods for crypto currency

[malu2121]

 just released GUSD, TrueUSD  in addition to USDT,  the first  backed by real dollars. I guess soon buy product from any currency will become a reality

[pedangrusak]

more merchants and online stores that accept crypto payments will make crypto better known and more valuable. today I read an article where youtube has supported the payment of ripple (xrp)
https://www.ccn.com/content-creators-on-youtube-twitch-and-wikipedia-can-now-accept-ripple-xrp/

with the increasing number of established coins accepted as digital payment instruments, in the future erc20 or tokens will follow according to the demands of information technology that requires easy, fast and safe digital payments

[jems]

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat.  However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services?  It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

in my opinion it will be difficult, although some time ago I heard that there were shops that had received Crypto. To make that a reality we really need coins with stable prices because the prices of goods or services cannot change every day like crypto.