You Can Now Shop With Bitcoin on Amazon Using Lightning

[TimeBits]

You Can Now Shop With Bitcoin on Amazon Using Lightning

Bitcoin spenders can now use the lightning network to shop at e-commerce sites like Amazon.

Crypto payment processing startup Moon announced today that any lightning-enabled wallet can now also be used through Moon’s browser extension. Before this lightning feature, roughly 250 beta users already used Moon to spend crypto on e-commerce sites by connecting the browser extension to exchange accounts like Coinbase.

To be clear, Amazon itself never touches bitcoin. Kruger declined to specify which traditional financial institutions are helping convert the bitcoin to fiat on the backend so that Amazon merchants actually receive fiat currency for their wares. However, Kruger added that by 2020 the lightning-enabled feature should work on almost any e-commerce site, regardless of whether that platform accepts bitcoin directly.

“There’s no direct merchant integration,” Kruger said, clarifying that Moon also manages payment channels and merely offers a simple interface for sending payments.

https://www.coindesk.com/you-can-now-shop-with-bitcoin-on-amazon-using-lightning

What are you thoughts about this one? Remember you have to download your browser's extension and then connects your wallet. And this what worry me most. As this could be another potential loopholes that hackers can exploit. And I assume that the fee's here will be high as well.

I also heard negative press about the people behind this company. So this is not an endorsement of any kind. Just wanted to brought this to the community. Always used your common sense.  

Edit: https://www.reddit.com/r/ethereum/comments/auqrhf/psa_on_moon_browser_extension/

I was shopping on amazon with bitcoin in 2013, buy a gift card with bitcoin from gyft.....

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[Genemind]

It's a new beginning for online businesses and merchants and even bitcoin users. It would be easy for us to purchase products in Amazon on our convenience. I just hope that there would be a low transaction fee since that's a struggle for most buyers. Let's see if it could affect the value of Bitcoin in the coming days.

[Anonylz]

It is better to be safe than sorry, am not ready to subject or compromise my personal wallet information just because i want to shop online with btc when there is still fiat alternative that is well secured,
I would rather wait when there are better ways to make transactions securely, for now i will maintain using fiat till such a time when more secured options are available. But it is a great idea.

[Chikitita2004]

You Can Now Shop With Bitcoin on Amazon Using Lightning

“To be clear, Amazon itself never touches bitcoin. Kruger declined to specify which traditional financial institutions are helping convert the bitcoin to fiat on the backend so that Amazon merchants actually receive fiat currency for their wares.“

Its quite suspecting. The name of the browser extension itself is not that well known, I wonder if there will be bitcoin holders that will trust this browser with their wallet details. Besides it says there that Amazon itself never touches bitcoin so in the event of conflict or problem, How can Amazon be responsible in solving it since its been stated already there that they are taking their hands off the matter?

[teejayrichard2]

well I dont know how true this is because i have not heard anything about it yet but then it will be a very welcomed development since we all desire bitcoin to be used for all kinds of transaction.

[blockchainwriters]

Most awaited bitcoin payment system and that too in amazon with this integration we can expect more adoption with big companies and big merchants may happen in the  coming future

[calandra78]

In any case, this is positive news, and we see how the market comes to life thanks to such news. I think this is a matter of time.

I am agree with you when said about this good for bitcoin market. such news to pump bitcoin price and they make it one for sell all they have bought and taken profit. amazon not accepted bitcoin, only third party where they do for all merchant like that.