Too much crypto payment projects but little people accepting crypto payments

[Finestream]

What is keeping cryptocurrencies from mass adoption? No regulation, so some people think that cryptocurrencies are used mainly for illegal activities.

Yes.It's really hard to realize mass adoption even in the future knowing that there are no strict regulations behind it.The government itself would still be the answer for this.If only they can backed up cryptocurrency then it will be more easy for the people to believe in crypto and use it in different transactions.Legalization from the government and its adoption would really give clarity to all the issues.

[starblocks]

You are right lots of startups are too focused on producing the fastest theoretical transaction speeds and designing fancy looking apps and not on real world use cases and these projects will likely be superseded so make sure you avoid investments of this type if they don't have a decent strategy to achieve broader adoption

[beerlover]

The initial and most noticeable of crypto is payment. Launching a project based on payment usage of crypto is also the easiest. However, like the OP stated, very few payment project turned to reality. A majority of those projects were created to scam people or so. Very very few projects were and are being seriously developed.

The same problem goes with platform projects. Many coins were created to be platforms for other coins. But along with the fall of ICO trend, many platform coins were put into trash bin. Projects with running product is as rare as gold in the sand now.

Since most of those projects offer the same services, can they just out their own coin idea aside, jettison it and work with those coins that are already established to serve this purpose, if they don’t do that now, we will have too many coins to choose from serving the same project.

If every project established is always to serve as a payment gateway, they what product do they want to use such payment for? We already have some that has already been fully established, is that not the sole reason why Bitcoin was created? Sometimes I just see other payment idea as a way of really duping people professionally since they know that it will eventually not work out in the future.

[Ucy]

There are indeed lots of these kinds of projects and almost all are struggling at the moment. I just think they tend to ignore the most important thing: the product marketing , the product ease of use and incentives

[sctunter]

need many step before we hit there
especially when crypto need to regulations to avoid ilegal or evil activity on crypto. And need to sphread to peoples about crypto

[angrybird3591]

Yes. If electronic money is used by many people to pay, then alt prices will rise very fast. I hope one day there are many areas of using electronic money to pay

[steveabrahams]

It's so true actually, too much crypto payments projects but in reality people don't even know that project and most of them are not accepted in public. I think it takes time imo, it's hard to courage people to accept crypto payments in their life and also so many people still don't know what crypto is.

[icalical]

I think it is because some people actually don't know what is cryptocurrency, and even though they know they will mostly heard the bad things about crypto. However, that kind of thing happens to almost every innovation and invention. People always hard to accept and event fear something new that they do not know about yet. Other factors might be the government regulation, some of the government still have grey regulation regarding cryptocurrency.

[Bitfling]

I think it is because some people actually don't know what is cryptocurrency, and even though they know they will mostly heard the bad things about crypto. However, that kind of thing happens to almost every innovation and invention. People always hard to accept and event fear something new that they do not know about yet. Other factors might be the government regulation, some of the government still have grey regulation regarding cryptocurrency.

For merchant, they will accept bitcoin as payment as long government regulation allow it. But many country ban bitcoin or crypto for payment and their reason is crypto used for criminal activity like money laundering. I think need more explanation about crypto to peoples who dont know about cryptocurrency

[Jrfranco]

I believe one of the major setbacks of the present crypto space is a lot of new projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions however considerably lower effort is placed on the vendors who are actually going to be accepting payment in form of cryptocurrencies because what is the use of having a crypto payment card full of money that you cannot spend.

Whitmore payment gateways a inform of PayPal and the likes accepting crypto payments from multiple coins without necessarily issuing their own coin then there will be better adoption of cryptocurrencies by both business owners and customers.

I understand somehow your sentiment about the proliferation of different payments but only few has adapted in it, well for me, its not an overnight success, it would depend on the team and developers on how they work on their project, if they give up then it should not be fine, as we are all aware that there are thousands of supporters and investors.

[Jrfranco]

I believe one of the major setbacks of the present crypto space is a lot of new projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions however considerably lower effort is placed on the vendors who are actually going to be accepting payment in form of cryptocurrencies because what is the use of having a crypto payment card full of money that you cannot spend.

Whitmore payment gateways a inform of PayPal and the likes accepting crypto payments from multiple coins without necessarily issuing their own coin then there will be better adoption of cryptocurrencies by both business owners and customers.

This issue depends in our individual analysis,. we see that there are hundreds of exchangers nowadays, but they also have limitations, most and few people are not satisfied in it, maybe this is the reason why some developers tried to make an ICO for exchanger project, which is a good thing, a hundreds competitors still the best, as long as they dedicated to their project

[efxtrader]

I believe one of the major setbacks of the present crypto space is a lot of new projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions however considerably lower effort is placed on the vendors who are actually going to be accepting payment in form of cryptocurrencies because what is the use of having a crypto payment card full of money that you cannot spend.

Whitmore payment gateways a inform of PayPal and the likes accepting crypto payments from multiple coins without necessarily issuing their own coin then there will be better adoption of cryptocurrencies by both business owners and customers.

This issue depends in our individual analysis,. we see that there are hundreds of exchangers nowadays, but they also have limitations, most and few people are not satisfied in it, maybe this is the reason why some developers tried to make an ICO for exchanger project, which is a good thing, a hundreds competitors still the best, as long as they dedicated to their project

I am agree. Crypto investor have choice to select their own exchangers. Cryptocurrency can not used as payment because government regulation and i think its different perspective. In several country, like Japan, merchant accept bitcoin or others crypto.

[Script3d]

Hopefully soon bakkt will launch, it will solve the problem of bitcoin and definitely help both bitcoin and the merchant, and more and more services will accept bitcoin as a payment method because they will receive fiat at the end, 

[SistaFista]

I believe one of the major setbacks of the present crypto space is a lot of new projects are focused on providing the fastest easiest crypto coin to be used for payment purposes and transactions however considerably lower effort is placed on the vendors who are actually going to be accepting payment in form of cryptocurrencies because what is the use of having a crypto payment card full of money that you cannot spend.

Whitmore payment gateways a inform of PayPal and the likes accepting crypto payments from multiple coins without necessarily issuing their own coin then there will be better adoption of cryptocurrencies by both business owners and customers.

Yeah, because peoples still afraid to using cryptocurrency. For example there are still peoples that thinks bitcoin is a ponzi scheme.
There are many of them bought bitcoin and altcoins in 2017, and having a great loss since then.
Need more good news in cryptocurrency world to get more peoples join and using crypto as our global currency.

[kawetsriyanto]

Well, not all crypto projects for payments have the trusted team and concepts by the companies that relate to the payment and transaction. First is about the uncertainty and volatility of the crypto that cannot be ignored. Of course, it will make some commerce companies fear to accept and use the crypto for payment method. It also relates to the security and trust of the users.
Although there are actually some good coins that really feature and match to the payment and transactions, they probably need other moments to be more accepted by many more people.

[wedosgibas]

Well, they are more focused on investment, because they continue to make development and road maps. So that investors know how they are going forward, is it worth investing?

[ajdaj]

Well, they are more focused on investment, because they continue to make development and road maps. So that investors know how they are going forward, is it worth investing?

I very much hope that in the near future we will really observe the development of all those companies that conducted Eco companies and that their coins will actually not only be involved, but also have corresponding value.  It is not for nothing that analysts speak negatively about most cryptocurrencies in the cryptocurrency market, since they are practically garbage.

[Levyathan]

Well, they are more focused on investment, because they continue to make development and road maps. So that investors know how they are going forward, is it worth investing?

Basically, we know that every investment had risks, so does setting up a project. Setting up and making a project is one hundred more risky than investing.

[ivanserfg]

cryptocurrency really has one big minus in terms of payments for goods. this is volatility. T, e in the case of return of the goods at what price to return the cryptocurrency. Both the buyer and the seller can play on this.
 

[bitstalker]

in my opinion for the project problem like that there are several projects whose crypton payment cards can only be used but are still limited, not like emoney, which is wider in scope but in the future crypto payment cards may be able to be wider and more useful.